German ZEW economic sentiment -37.6 in August

ZEW economist: Surveyed experts more sceptical due to euro zone development, disappointing German growth

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Scepticism regarding future economic growth increased dramatically Expectations in line with pessimism prevailing on stockmarkets about economic growth Situation in Germany still positive, but deteriorated considerably in August Size of drop in indicator is a surprise Last time ZEW saw similar drop was after Lehman failure Key reasons for drop in indicator are bad outlook [...]

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Ughhh Much worse than median forecast of -26.0. EUR/USD down at 1.4445.

Update: UK Jul Mortgage Approvals Highest Since Jun ’10 – BBA

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–Adds Detail To Version Transmitted At 0830 GMT –UK BBA: Jul Sa Mortgage Approvals 33,417 Vs 32,123 Jun –UK BBA: Jul Sa Remortgage Approvals 26,043 Vs 24,311 Jun –UK BBA: Jul Value Of Loans For House Purchase Stg4.926 Bln LONDON (MNI) – July mortgage approvals rose to their highest levels for 13 months, according to [...]

Option expiries for todays 14:00 GMT cut

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EUR/USD: 1.4200, 1.4230, 1.4250, 1.4300, 1.4500 USD/JPY: 75.00, 76.00, 77.00 GBP/USD: 1.6500 EUR/CHF: 1.1300, 1.1400 AUD/USD: 1.0395, 1.0435

UK July Mortgage Approvals Highest Since June 2010 – BBA

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–UK BBA: Jul SA Mortgage Approvals 33,417 VS 32,123 Jun –UK BBA: Jul SA Remortgage Approvals 26,043 VS 24,311 Jun –UK BBA: Jul Value Of Loans For House Purchase Stg4.926 Bln LONDON (MNI) – July mortgage approvals rose to their highest levels for 13 months, according to the latest British Bankers’ Association data. The number [...]

Spain’s PM: Extreme market volatility threatens to prolong economic crisis

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Sharp rise in Spanish spreads not justified Economy maintains recovery despite market turbulence Significant non-resident participation in bond. bill sales in last 2 months Euro zone finance ministers working to approve July 21 accord by beginning of Sept ECB bond buying programme can only be transitory New economic measures to ensure meeting deficit targets, job [...]

Austrian FinMin: Does not see solution in euro zone row over Greek collateral

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EUR/USD at 1.4470 from session high 1.4486. Many states oppose special treatment for Finland in Greek collateral case

Germany’s constitutional court says will announce verdict on Greek aid, euro rescue on Sept 7

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China C.Bank advisor Xia Bin: US sovereign credit rating downgrade adds to US dollar depreciation risks

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Comment not helping dollar, which is seeing across the board weakness. China worried about safety of its foreign exchange reserves China fx reserves needs to diversify into non-financial assets

Euro zone manufacturing PMI for August 49.7

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Down from 50.4 in July, and pretty much in line with median forecast of 49.5. Services PMI 51.5 from 51.6 in July, bit better than median forecast of 50.9. Stops tripped above 1.4460 and we’ve been as high as 1.4477, presently at 1.4470.

Cable firmer on day; sell orders, stops noted

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Cable up at 1.6518 from around 1.6485 when I sat down. Talk sell orders clustered now at 1.6520/30 (being chewed thru at writing) and more clustered 1.6550/60. Also talk of buy stops gathering through 1.6610 and 1.6620. What’s 10 pips in the main scheme of things.

AUD/USD trades firmer; sell orders noted

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AUD/USD up at 1.0498 from around 1.0450 when I sat down, with model funds notable buyers this morning. Talk of sell orders clustered now up at 1.0520/30.

Germany’s DIHK insitute foreign trade chief says doe not expect euro to become noticeably weaker on average this year

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Well it’s doing OK so far this morning, EUR/USD presently at 1.4435. Hedge fund been seen notable buyer EUR/USD and EUR/CHF in recent trade. EUR/CHF up at 1.1385 from around 1.1320 when I parked my bum.

German manufacturing PMI 52.0 in August

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Same as July, but stronger than median forecast of 50.8. EUR/USD rallies off data, presently up at 1.4420. On the flip side services PMI 50.4, down from 52.9 in July and weaker than median forecast of 52.0.

Using my amazing analytical powers…..

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Ok kinda crappy analytical powers then; I’d hazard a guess that there are sell orders clustered up at 1.4445/55 in EUR/USD and buy stops gathered up at 1.4460/65. Just like yesterday in fact We’re at 1.4400 in thoroughly turgid trade today. (that’s alliteration, well at least I think it is)

Wow look at that kiwi go!!!

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Go figure We’re up at .8325. You can thank Joe for that one when he gets in.

China CBank advisor Xia: US dollar likely to weaken in long-term, but short-term rebounds possible

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Go figure

French manufacturing PMI falls to 49.3

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Down from final 50.5 in July, and slightly weaker than median forecast of 49.7 On the flip side though services PMI rises to 56.1, up from 54.2 in July and better than median forecast of 53.5. EUR/USD touch firmer on services rise, presently at 1.4395 in truly turgid market. Caaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaack!!! That’s better