Euro zone industrial production +1.2% m/m, +5.3% y/y


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Demonstrably stronger than Reuters’ median forecasts of -0.7%, +2.2% respectively
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Poor recent UK unemployment has stretched the cross up to  around 0.8782 just now and falls just short of the 100 day MA at 0.8786. As Sean and Gerry have already mentioned the 0.8800 level is pivotal with stops set on a break up through there. A closing break above here points towards a move [...]
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BERLIN (MNI) – German Economics Minister Philipp Roesler said Wednesday that the government will likely revise downward its economic growth forecasts for Germany made in April. “The tendency is that due to the agitated situation on financial markets in the Eurozone as well as on global markets and in emerging economies, our growth forecasts will [...]
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Hedge fund buying has been a very notable feature of this latest rally in EUR/USD. We’ve been as high as 1.3770, presently at 1.3765.  An Asian central bank has been selling above 1.3750, slowing but not as yet stopping the rally.
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–Sep Claimant Count Unemployment +17,500 m/m; Rate 5% –Aug Average Weekly Earnings +2.8% vs +2.9% in July –Aug Average Weekly Earnings ex bonuses +1.8% vs +2.1% in Jul –Jun-Aug ILO Unemployment +114,000; Rate 8.1% –Aug Claimant Count revised to +19,100 m/m from +20,300 LONDON (MNI) – Unemployment rose at is fastest pace for more than [...]
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Still a poor number , with claimant count better than expected, but overall unemployment rate  up at 5% It’s all doooom and gloooom….. Cable’s still bid though  and chewing through the earlier mentioned retail offers from 1.5685 to a high of 1.5691 NB. Hearing the Reuters trading system is down , where the majority of [...]
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1.3700 change 1.3740 in EUR/USD.  Guess we know where the stops were then. Still getting reports of strong hedge fund buying (plural) in this latest move through 1.3700.
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–Adds Detail To Version Transmitted At 0859 GMT LONDON (MNI) – Developments overseas are key for the setting of UK monetary policy and for what happens to the domestic economy, Bank of England Chief Economist Spencer Dale says in a Reuters interview published Wednesday. In the interview Dale highlights how BOE policymakers are at the [...]
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Bush telegraph now saying retail  offers just planted at 1.5685 through to 1.5705. High on the day so far has been 1.5685
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Up through 1.0000 and stalling at Monday’s high of 1.0015, before tripping stops and accelerating up  through 1.0050 (high so far on the day is 1.0053). Now hearing some offers just put in the frame at 1.0055/65 from buyers in the lows 0.9900′s
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Ireland is on its way to an export-led recovery (hooooooray!!!) Growth is now stalling in Europe (boooooo) We are in a very dangerous situation (boooooo) Not been able to put out financial market bush fires Growth slowdown has been related to financial market turbulance Consensus about what needs to be done is in the making [...]
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Think we kind of gathered that one Expects Slovakia is aware of its responsibility towards Europe Direct help for bank recapitalisations from EFSF is not at all doable Too early to make decisions on bank recapitalisation, looking at options
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LONDON (MNI) – Developments overseas are key for the setting of UK monetary policy and for what happens to the domestic economy, Bank of England Chief Economist Spencer Dale says in a Reuters interview published Wednesday. In the interview Dale highlights how BOE policymakers are at the mercy of events overseas and how they unfold [...]
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TOKYO (MNI) – Amid fears of a global slump, economists have revised down further their forecasts for Japan’s economic growth next year, but predict consumer prices will stop falling in about two years, the latest monthly survey by the Cabinet Office’s Economic Planning Association released on Wednesday showed. The association polled 42 economists and research [...]
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VIENNA (MNI) – It is not prospects for inflation that should be worrying people, but rather those for the economy, European Central Bank Governing Council member Ewald Nowotny said late Tuesday. Speaking before a group of financial managers, the head of the Austrian National Bank predicted tame inflation next year but described as challenging the [...]
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We cannot step in for govts any more than we can for the private sector Euro area is being affected by a crisis that is clearly global in scale Govts must boost EFSF with leverage if needed Trichet’s comments (well at least the headline and the EFSF leverage one) giving the single currency a further little lift [...]
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RIGA (MNI) – The Eurozone is not a transfer union, European Central Bank Executive Board member Juergen Stark said Wednesday. Stark told a conference of the Bank of Latvia that “the euro area is not a transfer union” and reminded his listeners that he is “a strict opponent” of a transfer union. –Frankfurt bureau tel.: [...]
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RIGA (MNI) – The current sovereign debt crisis in Europe is at bottom a reflection of macroeconomic imbalances and poor fiscal policies of Eurozone member states, European Central Bank Executive Board member Juergen Stark said Wednesday. Speaking at a conference of the Latvian central bank, Stark — who has resigned from the ECB and awaits [...]
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Got that right pumpkin.  Time to cut those rates!!! Expect a clear decline of inflation, under 2% in the second half of 2012 There is the risk that we will enter a relatively long phase of weaker economic growth On Greece – As long as there is no permanent rescue mechanism, an isolated sovereign default [...]
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European governance reforms step in right direction, but short of quantum leap ECB favours Euro zone difficulties highlight need for sustainable fiscal policies, stability begins at home
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