Euro zone manufacturing PMI 47.3 in October

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• AUD/USD open to a look lower…
• Merkel to brief heads of parliamentary groups on EU summit around midday – Parliamentary sources
• BOE Tucker: Regulators Need Freedom On Minimum Margin Rules
• Euro zone manufacturing PMI 47.3 in October
• Italy govt coalition partners Northern League against raising pension age
• World power swings back to America
• Dutch business confidence -3.2 pts
• German manufacturing PMI for October 48.9
• Japan Vice FinMin Igarishi: Need to take decisive measures on currencies if there are signs of speculative moves
• BOE MPC Broadbent: Decision On Stg75bln QE Not Precise: Press
• Japan business lobby head: Would like to see firm action by Japan
• JAPAN DATA: The Bank of Japan says its Sept real a…
• French manufacturing PMI for Oct 49.0
• MNI Survey: Japan Sep Jobless Rate Seen At 4.4%
• French Budget Minister: Euro zone is “progressing towards a deal”
• Japan warns will act decisively vs excess fx moves
• JAPAN DATA: Domestic shipments of audio and visual…
• Japan Sep Supermarket Sales -3.6% Y/Y, Hit By Typhoons
• European stocks seen opening firmer
• Banks and Europe clash over Greek debt deal

AUD/USD open to a look lower… Posted: Heading  lower largely on the back of EUR/USD , after recent highs of 1.0425 after Europe opened. Being told there is little on the orders board on the 1.0300 handle, but prop a/c interest to sell is still seen around the 1.0410/15 level. The 200 day MA currently sits arounds 1.3091 and we’ve yet to [...]

Merkel to brief heads of parliamentary groups on EU summit around midday – Parliamentary sources Posted:

BOE Tucker: Regulators Need Freedom On Minimum Margin Rules Posted: LONDON (MNI) – Bank of England Deputy Governor Paul Tucker backs US Treasury Secretary Tim Geithner’s call for an international agreement minimum margin requirements for uncleared over the counter derivative contracts, but says such an agreement would not go far enough. In a speech at a European Commission Conference Tucker says that he agrees with [...]

Euro zone manufacturing PMI 47.3 in October Posted: Down from 48.5 in September and weaker than median forecast of 48.0.  Lowest since July 2009. Services PMI 47.2 in October, down from 48.8 in September and weaker than median forecast of 48.5.  Also lowest since July 2009. Composite PMI 47.2, down from 49.1 in September and below median forecast of 48.8. Lowest since July [...]

Italy govt coalition partners Northern League against raising pension age Posted: Will propose alternatives  – Senior party official That’ll go down well with the Germans and French.

World power swings back to America Posted: Love him or loathe him, latest from AEP at The Telegraph.

Dutch business confidence -3.2 pts Posted: Down from -0.5 in September.

German manufacturing PMI for October 48.9 Posted: Weaker than Reuters’ median forecast of 50.0 and down from final 50.3 in September.  First reading below 50.0 since September 2009. On the otherhand services PMI 52.1, up from final 49.7 in September and stronger than median forecast of 49.7. EUR/USD sits around 1.3905, having reached session high 1.3953 in stop-fuelled early European rally.  BIS [...]

Japan Vice FinMin Igarishi: Need to take decisive measures on currencies if there are signs of speculative moves Posted: One-sided moves in currencies could be a problem

BOE MPC Broadbent: Decision On Stg75bln QE Not Precise: Press Posted: LONDON (MNI) – The Bank of England Monetary Policy Committee’s decision to sanction stg75 billion in quantitative easing at its October meeting, as opposed to some other amount, was not a precise process, MPC member Ben Broadbent told the Financial Times. Broadbent told the FT that he looked at the Bank’s research on the impact [...]

Japan business lobby head: Would like to see firm action by Japan Posted: Including sole intervention to stop yen rise.

JAPAN DATA: The Bank of Japan says its Sept real a… Posted: JAPAN DATA: The Bank of Japan says its Sept real export index rose a seasonally adjusted 3.5% m/m to 124.0 (100 for the 2005 base year), the 5th straight m/m rise, with the pace of increase accelerating from +0.1% in August and +0.4% in July. The September reading was the highest since 126.5 in September [...]

French manufacturing PMI for Oct 49.0 Posted: Better than Reuters’ median forecast of 48.0 On the otherhand services PMI 46.0, worse than median forecast of 50.5.  27-month low. Composite PMI falls to 46.8 in October from final 50.2 in September, 29-month low.

MNI Survey: Japan Sep Jobless Rate Seen At 4.4% Posted: – See Separate Table For Details of Individual Forecasts TOKYO (MNI) – Japan’s seasonally adjusted unemployment rate is forecast to have risen slightly to 4.4% in September from 4.3% in August while the ratio of job offers to seekers is seen improving to 0.67 in September from 0.66 the previous month, according to the median [...]

French Budget Minister: Euro zone is “progressing towards a deal” Posted: Near a deal in which private partners accept a bigger haircut on Greek debt French banks will recapitalize with private money French banks’ exposure to Greek debt is 8 billion All problems, not only Greek, but also Italian and Spanish must be addressed Spent too much time to ratify July 21 accord All euro zone [...]

Japan warns will act decisively vs excess fx moves Posted: Reuters article.

JAPAN DATA: Domestic shipments of audio and visual… Posted: JAPAN DATA: Domestic shipments of audio and visual electronic appliances totaled Y192.3 billion, down 42.0% on year in September, posting y/y falls for two months in a row, data released by the Japan Electronics and Information Technology Industries Association showed. The September decline followed -26.2% in August and +16.9% y/y in July. TV shipments stood [...]

Japan Sep Supermarket Sales -3.6% Y/Y, Hit By Typhoons Posted: TOKYO (MNI) – Sales at supermarkets in Japan open for at least a year fell 3.6% in September from a year earlier to Y987.1 billion, posting the second straight y/y fall in light of bad weather conditions, an industry group said Monday. Sales fell as two major typhoons hit Japan in September, and relatively high [...]

European stocks seen opening firmer Posted: According to Reuters, financial spreadbetters expect FTSE, DAX and CAC 40 to all open up around 1.1%.

Banks and Europe clash over Greek debt deal Posted: ‘Leading banks are at loggerheads with European leaders after lenders offered to accept losses of up to 40% on their Greek holdings, a proposal seen as insufficient by politicians.’