ECB’s Asmussen wants bail-in mechanism in place by 2015



Link to ForexLive

Posted: 14 May 2013 02:00 AM PDT
  • 36.3 prev
  • ZEW current conditions May  8.9  vs 10.00 exp  9.2 prev
Weaker than expected   EURUSD lower at 1.2987
Finding a few bids though as EZ ind prod better than expected
ZEW president says:
  • Eurozone economic situation still “poor”
  • situation reflected by interest rate cut
  • survey shows 77% of respondents not expecting further rate cut in next 6 months

Posted: 14 May 2013 02:00 AM PDT
  • Prior 0.4% Feb revised down to 0.3%
  •  y/y-1.7% vs 2.2% exp. Prior -3.1% Feb revised down to -3.2%
Decent gain for industrial production though the price action is being trumped by the worse than expected German Zew

Posted: 14 May 2013 01:46 AM PDT
  • Sells €1.01bn 6 month bills at 0.492% down from 0.530% prev
  • Sells €3.03bn 12 month bills at 0.994% from 1.235% prev
Posted: 14 May 2013 01:36 AM PDT
  • SME’s also targetted in a bid to encourage growth
Posted: 14 May 2013 01:10 AM PDT
Fund names have been selling this morning but we’re still at 1.3000 with good interest seen both sides of the price action. Currently 1.2998
Sellers 1.3010,1.3030,1.3050,1.3070,1.3100
Buyers 1.2985,1.2970,1.2935,1.2900,1.2880,1.2850
eurusd orders 14 may

Posted: 14 May 2013 01:03 AM PDT
  • +0.1% prev
  • y/y + 1.1 % vs +1.2% exp  +1.2% prev
Posted: 14 May 2013 01:02 AM PDT
Trading around 1.5300 again as I type after decent buying interest from middle east names earlier. Currently 1.5301 after dip just now to 1.529794
Sellers 1.5320,1.5350,1.5380,1.5400,1.5420,1.5450,1.5485,1.5525
Buyers 1.5285,1.5275,1.5255,1.5225,1.5200
gbpusd 14 may
Posted: 14 May 2013 12:33 AM PDT
I’m hearing reports of funds selling this pair so far this morning
Currently on session lows in a rush at 1.2991
Posted: 14 May 2013 12:17 AM PDT
  • FTSE +0.2%
  • DAX +0.3%
  • CAC40 +0.2%
  • IBEX +0.3%
  • FTMIB +0.6%
Posted: 14 May 2013 12:06 AM PDT
  • +0.4% prev
  • y/y +1.4% vs +1.4% exp  +2.4% prev
Posted: 14 May 2013 12:04 AM PDT
  • says he wants single bank resolution mechanism in place along with single supervision in middle of 2014
  • out on reuters
Posted: 13 May 2013 11:52 PM PDT
I posted earlier on the dip down to 101.27 and mentioned there were buyers lining up at 101.25 and 101.00
The pair has  wiped its feet at 101.50 but has just posted 101.52 as I type. EURJPY trading at 132.00 again
Posted: 13 May 2013 11:45 PM PDT
  • Feb revised down from EUR -4.9 bln
EURUSD unchanged at 1.3003
Posted: 13 May 2013 11:33 PM PDT
I’m hearing talk of middle east buying interest so far this morning on this pair.
Currently 1.5318 from 1.5294 lows
Posted: 13 May 2013 11:29 PM PDT
  • y/y -0.4% vs -0.3%
This was out earlier with the CPI but slipped under my radar. Apols.
No impact anyway

Posted: 13 May 2013 11:02 PM PDT
  • down 23.79 points
Posted: 13 May 2013 11:01 PM PDT
  • -0.5% prev
  • y/y +1.2 % vs +1.2% exp  +1.2% prev
  • HICP m/m -0.5 % vs -0.5% exp -0.5% prev  y/y  + 1.1 % vs +1.1% exp  +1.1% prev
Posted: 13 May 2013 10:51 PM PDT
The pair is back below 101.50 and has just traded at 101.29 as JGB yields remain firm. Also talk of repatration for US treasury redemptions and coupon payments
Buy orders reported at 101.25 and more at 101.00
Posted: 13 May 2013 10:32 PM PDT
The Bank of Japan has just announced it will join the ECB, US Fed and others in raising its concerns over recent revelations that journalists have had access to private data, including the Bloomberg messenger conversation service used by traders.
Bloomberg CEO Winkler has apologised for the practice, calling it “inexcusable” but said that it had allowed only “limited” access.
The FT this morning carries this story, Bloomberg users messages leaked online.
The story is gated but can be read by signing up to a free registration or else search for the headline
Posted: 13 May 2013 10:18 PM PDT
We’ve been posting on this subject for a while now and the debate is beginning to take centre stage here
With PM Cameron now rushing through a bill to secure a vote by 2017, should they be re-elected, the tactic should be seen as  an attempt to placate his own party right now more than the electorate
Here’s this morning’s editorial from UK commuter freebie City am which suggests that the govt will not even see out its full term, a possibility that I have raised here before.
The Independent carries this story
The on-going uncertainty should continue to weigh on the pound.

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