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- Chinese diplomat: China supports EU efforts to solve debt crisis
- AUD/USD struggling with 200day MA resistance and EUR/AUD buying
- US investment house seen on top in EUR/USD as well
- Cable trading little easier on the day, notable seller seen
- ITALY DATA: October business confidence fell to 94.0.
- Russia been selling EUR/USD
- Pop goes the weasel
- Trichet: Countries cut off from markets must be helped
- European Financial Stability Fund chief Regling to visit Beijing on Friday – EU delegation
- Here ya go, bit of a timetable….
- China ForMin: Hopes EU takes effective measures to restore market confidence
- ECB’s Stark: ECB’s bond buying programme removes key incentive for govts to cut deficits – Magazine
- FRANCE DATA: Global demand for French manufactured…
- Greek FinMin told banks 50% haircut likely – Paper
- Soc Gen CEO: Could turn to shareholders if needs more capital
- Germany Import Prices Recover Slightly More Than Expected
- GERMANY DATA: September import prices +0.6% m/m, aug.
- Eurostoxx 50 futures down -0.2%
- German September import prices +0.6% m/m, +6.9% y/y
- Merkel puts rescue fund to German vote before debt crisis summit
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…But says there is nothing concrete on China’s investment in the EFSF SPV… EFSF spokeman: Cannot confirm China’s commitmment to participate in investing in the SPV EFSF’s Head Regling is travelling to China on Friday for talks with buyers of EFSF bonds..
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AUD’s still feeling the effects of that CPI data o/n and is now looking at the Asian lows around 1.0355. The 200 day MA at 1.0395 seems to be proving tough resistance this morning in Europe and EUR/AUD buying in continuation of yesterday’s big rally isn’t helping the cause either. Seems to be some bids [...]
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Having been as high as 1.3949 we’re down at 1.3925 presently. Busy going nowhere……. It’s doing my head in
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We’re down at 1.6005 from around 1.6035 when I arrived. Talk is a UK clearer with strong far eastern connections has been notable seller this morning. Yesterday I mentioned sell orders layered 1.6020 through 1.6060 and they’re proving sticky for the cable bulls so far, the most recent rally fizzling out around 1.6040.
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ITALY DATA: October business confidence fell to 94.0 from 94.5 in September on worsening order expectations, posting the lowest level since January 2010 (93.4), ISTAT said. October current orders fell to -29 from -27 in September; while current inventory levels (+1) and the 3-month outlook for output remained stable (-1), posting the same level as [...]
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In recent trade. That’s the central bank by sounds of it. Not that we’re alot lower mind you. We’re at 1.3933 from session high 1.3942.
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Well if there was any doubt earlier, then there isn’t now. Barrier option interest in EUR/CHF at 1.2200 is now history. THE major Swiss commercial bank has been notable seller of USD/CHF in recent trade. We’re down at ..8740 from around .8780 when I sat down. The cross is down at 1.2180.
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Aid for countries must come with strict conditions Euro zone institutions must directly intervene in countries Reiterates call to create euro zone finance ministry Arguement for finance ministry stronger now than in June Comments from guest commentary in Handlesblatt. As reported by Dow Jones.
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Hey matey, lend us a few bob.
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11:00 GMT: Merkel to address Parliament on EU summit 15:15-15;45 GMT: Arrival of members of the European Council 16:00-17:00 GMT: Euro-area summit 27 heads of state 17:15 GMT: Leaders of 17 euro zone countries meeting EUR/USD touch firmer at 1.3930. And guess who’s been buying? Yes indeedy, it’s our good friends from the Middle East… Talk [...]
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Whatever…. EUR/USD sits at 1.3925 in very quiet trade. It’s almost as though the market is waiting for something.
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He isn’t wrong.
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FRANCE DATA: Global demand for French manufactured goods has slowed, with a majority of manumfacturers expecting demand to fall further in the fourth quarter – France 4q mfg demand outlook -6 vs 3q +7 (+8)–INSEE survey – France 4q mfg foreign demand outlook -1 vs 3q +14 – France oct sa mfg capacity utilization 82% [...]
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According to newspaper Kathimerini, Greek FinMin Venizelos told Greek banks that the most likely outcome of EU summit is a 50% haircut for bondholders, who would receive cash and new 30 year bonds in return for the debt. Reuters reporting.
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No need for state funds. Banks’ reserves stronger than ever Banks ready to help Greece Haircut on Greek debt not an issue for Soc Gen Italy has means to pay its debt Confident about EU summit on debt crisis Amount needed for recapitalization will be manageable
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September: +0.6% m/m, +6.9% y/y MNI survey median: +0.5% m/m, +6.9% y/y MNI survey range: -0.3% to +1.1% m/m August: -0.7% m/m, +6.6% y/y July: +0.8% m/m, +7.5% y/y – FRANKFURT (MNI) – Import price inflation in Germany came in marginally higher than expected in September, boosted by gains in all major components, led by [...]
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GERMANY DATA: September import prices +0.6% m/m, +6.9% y/y; aug +6.6% y/y – Germany September import prices above MNI median m/m fcast (+0.5%) – Germany September export prices unch m/m, +2.9% y/y; aug +3.2% y/y – Germany September ex-oil/oil products unch m/m, +3.6% y/y – Germany September import prices: energy goods +1.9% m/m, +28.4% y/y [...]
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DAX futures down -0.3%, CAC 40 futures down -0.3%.
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Slightly stronger than Reuters’ median forecasts of +0.5%, +6.8% respectively. EUR/USD steady around 1.3910 in cagey start to European trading.
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Bloomberg article.
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