Spain Eco Min

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• Spain Eco Min: Thursday bond auction to go ahead despite market volatility
• US Data Preview: July payrolls Weighed Down by Weak Demand
• US Pres Obama: Debt ceiling crisis had unnecessary negative impact on US economy
• Euro stumbles again above 1.4340
• Berlusconi: Fin Markets Are Underestimating Italy’s Potential
• Analysis:FOMC Faces Tough Econ Challenges With Limited Tools-2
• Analysis:FOMC Faces Tough Econ Challenges With Limited Tools
• Another good day at the office for Gold…
• US’s Reid: Hits GOP For ‘Outrageous’ Blocking Of FAA Extension
• WTI support threatened at $91.10 after the EIA data
• White House: Clear that US growth has slowed as economy grapples with high energy prices, other headwinds
• Greek Fin Min: All Greek banks except Atebank and Postbank will take part in Greek rescue deal
• Survey: Analysts Push BOE Rate Hike Forecast Back To Q2 2012
• Survey Table: Analysts Forecasts For BOE MPC Bank Rate, QE
• EU DebtWatch: ECB May Pause Rate Hikes Amid Sovrgn Debt Crisis
• Cable closing in London just off the day’s highs
• IMF’s Borges: “Early conclusion” needed in talks between Greece and private creditors
• Italian PM Berlusconi: Market tensions show no signs of easing, Italy has solid economic fundamentals
• Berlusconi’s next up the ramp..
• Greek FinMin says expects to complete entire procedure for EU rescue deal by early October, will be able to go back to bond markets in 2014

Spain Eco Min: Thursday bond auction to go ahead despite market volatility Posted: Hopes EU President comments calms markets ahead of Thursday bond auction

US Data Preview: July payrolls Weighed Down by Weak Demand Posted: By Chris Cermak WASHINGTON (MNI) – Economists are slowly moving toward the view that weakening demand growth could be pushing the U.S. labor market and wider economy into much more than just a temporary slowdown. Yet shock over the anemic May-June payrolls figures still has many hoping that businesses may have overshot, prompting most forecasters [...]

US Pres Obama: Debt ceiling crisis had unnecessary negative impact on US economy Posted: US government may lose $1 bln from FAA impasse in Congress Urges Congress to break aviation impasse, expects it resolved by end of the week

Euro stumbles again above 1.4340 Posted: This price action hints at a barrier at 1.4350, but i can’t confirm it. If there is , stops are likely through the level, which could tweak a move up to 1.4450 again. Think that’s more likely to depend on the actions of those EUR/CHF guys who have dictated the afternoon’s direction. May be some [...]

Berlusconi: Fin Markets Are Underestimating Italy’s Potential Posted: ROME (MNI) – Tensions on Italy’s financial markets do not reflect the economic fundamentals nor the progress made in reducing the public deficit, Prime Minister Silvio Berlusconi argued Wednesday. “We have solid economic fundamentals,” Berlusconi declared in a speech to the lower house of parliament. “Our banks are liquid, solvent and passed the European stress [...]

Analysis:FOMC Faces Tough Econ Challenges With Limited Tools-2 Posted: By Steven K. Beckner (MNI) – Further clouding the outlook is the market’s disappointed reaction to the $2.4 trillion debt deal. Stock prices have continued to plunge in a show of investor doubt and disapproval of a highly contingent scheme to cut spending far less than the amount deemed necessary to avoid a U.S. debt [...]

Analysis:FOMC Faces Tough Econ Challenges With Limited Tools Posted: By Steven K. Beckner (MNI) – Despite a deluge of discouraging data, it’s probably too soon to expect Federal Reserve policymakers to charge forward with more monetary stimulus at their Federal Open Market Committee meeting next Tuesday. The groundwork may be laid for future action if the economic picture does not improve. But with limited [...]

Another good day at the office for Gold… Posted: Just wish i had some…. New record highs today of $1672.65 and Euro 1180.28 (Reuters) Silver hasn’t done badly either, up around $1.25 to $42.03 as the safe-haven band wagon rumbles on.. NB. Reports earlier in the week that South Korea had bought over $1bln worth of Gold for the first time in 10 years has also helped [...]

US’s Reid: Hits GOP For ‘Outrageous’ Blocking Of FAA Extension Posted: –Senate Majority Leader: House GOP Refused To Pass Routine Extension –Has Said 80,000 Jobs Are In Jeopardy –House Minority Whip Hoyer: ‘We Need To Get This Done Today’ –Sen. Schumer: FAA Dispute Occured ‘Under The Cover’ of Debt Hike Fight By John Shaw WASHINGTON (MNI) – Senate Majority Leader Harry Reid ripped into Republicans Wednesday [...]

WTI support threatened at $91.10 after the EIA data Posted: We’re just off the lows earlier of 91.21, but bounces look a bit ’dead cat’ at the moment. Sept Crude is around 91.55

White House: Clear that US growth has slowed as economy grapples with high energy prices, other headwinds Posted: Does not believe there is a threat of a double dip US recession ‘Looking at different options’, it may have to possibly end FAA shutdown, but says should be resolved by Congress

Greek Fin Min: All Greek banks except Atebank and Postbank will take part in Greek rescue deal Posted:

Survey: Analysts Push BOE Rate Hike Forecast Back To Q2 2012 Posted: –Analysts See Little More Than 1-in-4 Chance of More QE LONDON (MNI), Aug 3 – Analysts’ expect the Bank of England’s already prolonged policy pause to continue until the second quarter of next year. The median forecast in a Market News International survey showed analysts’s median forecast was for no further quantitative easing and for [...]

Survey Table: Analysts Forecasts For BOE MPC Bank Rate, QE Posted: LONDON (MNI), Aug 3 – Analysts have once again pushed back their forecasts for the first hike in Bank Rate. The median forecast in Market News’ survey ahead of the August Bank of England Monetary Policy Committee meeting is for the first hike to come in the second quarter of 2012. In the July survey [...]

EU DebtWatch: ECB May Pause Rate Hikes Amid Sovrgn Debt Crisis Posted: WASHINGTON (MNI) – The following is a roundup of key developments and events Wednesday in the ongoing European sovereign debt crisis: * The European Central Bank may signal a pause in its push to raise interest rates as it confronts a slowdown in economic growth and a possible worsening of the Eurozone debt crisis. The [...]

Cable closing in London just off the day’s highs Posted: Around 1.6405 after a peek up at 1.6424 earlier, with sterling benefitting on the day from some diversification after real money looked for alternative investments following swiss sales. Some chat of offers now at 1.6420/25 with stops through $1.6430

IMF’s Borges: “Early conclusion” needed in talks between Greece and private creditors Posted: High participation by private creditors needed to resolve Greece’s financing challenges “Timely decisions” needed by private creditors about participation in debt exchange plan Private sector involvement will help Greece realize cash flow relief

Italian PM Berlusconi: Market tensions show no signs of easing, Italy has solid economic fundamentals Posted: Juncker, Rehn confirmed their appreciation of Italy austerity package US debt ceiling deal hasn’t eased market tensions Markets still don’t reflect important decisions taken by EU on debt crisis Must bring certainty to markets Tensions not only affecting italy, also many others in euro zone As often happens in in confidence crises, markets not tightly [...]

Berlusconi’s next up the ramp.. Posted: Speaking in a few minutes to the lower House, where he could possibly boost the effectiveness of the Tremonti austerity plan by bringing forward some future planned spending cuts..

Greek FinMin says expects to complete entire procedure for EU rescue deal by early October, will be able to go back to bond markets in 2014 Posted: