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| UK DATA: DCLG says UK house prices rose 0.5% m/m in.. Posted: UK DATA: DCLG says UK house prices rose 0.5% m/m in Dec, rose 3.8% y/y    |
| Posted: We're at 1.3535 from session high 1.3542. Forget the ZEW rumour. UPDATE: West coast-based US commercial bank also notable seller in recent trade.  |
| Sweden’s Riksbank Hikes Key Repo Rate To 1.5% From 1.25% Posted: - Raises Repo Rate Outlook FRANKFURT (MNI) - Sweden's Riksbank increased its repo rate by 25 basis points to 1.5% as expected on Tuesday and adjusted its forecast for the repo rate upwards. "A gradual rise in the repo rate reduces ...  |
| UK January CPI +0.1% m/m, +4.0% y/y Posted: Exactly in line with median forecasts. Highest y/y since November 2008. Had been some fears that data could be even worse than forecast and fact is hasn't been has seen slight sell-off in cable, presently down at 1.6060. ONS says biggest upward impact on annual CPI from fuel, restaurants (do people still ...  |
| All the way back to where we started and a little bit more Posted: EUR/USD rallying hard, presently back up at 1.3535, marginally firmer from where we started. First thing this morning had reports of sell orders 1.3545/55, stops through 1.3565. Somewhat belatedly getting reports of Asian sovereign buying during this latest rally, shock horror. I think we could have guessed that one.  |
| Germany’s Merkel Determined To Make Weidmann BBK Head: Press Posted: BERLIN (MNI) - German Chancellor Angela Merkel is apparently determined to make her 42-year old top economic advisor, Jens Weidmann, the next president of the Bundesbank, the mass daily Bild reported Tuesday. The Free Democrats, the junior partner in the ...  |
| ITALY DATA: prel 4Q10 GDP +0.1% Q/Q, +1.3% Y/Y by…. Posted: ITALY DATA: prel 4Q10 GDP +0.1% Q/Q, +1.3% Y/Y buoyed by agriculture and services. --3Q GDP was revised to +1.2% y/y from +0.3% q/q, +1.1% y/y. --Full-year 2010 work-day adjusted GDP gained +1.1% y/y, up from -5.1% in 2009. --The 4Q result gives a platform of 'acquired' growth of +0.3% for ...  |
| Cable ticking higher; sell orders, stops noted. CPI data awaited Posted: Cable up at 1.6075 from around 1.6055 when I arrived. Well known US investment bank noted buyer in recent trade. Talk of sell orders up at 1.6090/00. Sean mentioned buy stops through 1.6115 earlier. Market now awaits the release of important CPI data for January at 09:30 GMT, expected +0.1% m/m, +4.0% ...  |
| Italy Q4 GDP +0.1% q/q, +1.3% y/y Posted: Very marginally below median forecasts +0.2%, +1.4% respectively.  |
| Germany EconMin: Indicators Signal Positive Econ Devels In 1Q Posted: BERLIN (MNI) - German quarterly economic growth will remain favorable in the first quarter of this year, Economics Minister Rainer Bruederle said Tuesday. Setbacks due to the early start of the winter will be offset in the coming spring months, ...  |
| For those with an interest in EUR/CHF Posted: Someone just told me UBS has raised it's 3-month target for the cross to 1.3500 from previous 1.3000. Don't know whether they did it today or before, but they've done it. Cross sits at 1.3100.  |
| Germany: Train Drivers To Start Warn Strikes Next Week: Press Posted: BERLIN (MNI) - The German train drivers' union GDL will start staging warning strikes in passenger and freight transport from next Monday to push through its demands in the current pay round, the German daily Sueddeutsche Zeitung reported Tuesday. Moreover, the union will call ...  |
| For those who like a rumour….. Posted: Rumour doing the rounds that China is set to raise the reserve ratio requirement again today. Take it for what you will. I'll take it with a rather large pinch of salt.  |
| EUR/CHF ticks higher in early European trade Posted: EUR/CHF up at 1.3105 from around 1.3090 when I arrived. Talk Swiss private bank out of Zurich has been decent buyer this morning.  |
| USD/JPY marginally firmer in early European trade Posted: USD/JPY up at 83.58 from around 83.40 when I arrived. Large US custodial notable buyer in early European trade. UK clearer also seen buying. Talk of stops lined up through 83.80. UPDATE: Oops nearly forgot. As Sean mentioned overnight, there is also talk of sell orders parked up at 83.70 just ahead of the ...  |
| BOJ Gov Shirakawa: Upside, downside risks to Japan’s economy balanced Posted: Carefully watching long-term interest rate moves Chance of Japan economy recovery heightening Japan economy moving in line with January forecast Sees both benefits, drawbacks to strong yen Long-term rate rises reflect expectation for US economic recovery Japan long-term rate rises smaller than other countries  |
| EUR/USD slips lower; buy orders, stops noted Posted: The disappointing French growth data, and to a lesser extent slightly disappoining German growth data, has put the single currency under some pressure. We're presently down at 1.3472. Talk of buy orders clustered 1.3450/60, stops below there. More stops through 1.3420.  |
| German prelim Q4 GDP +0.4%, +4.1% y/y Posted: Slightly weaker than median forecasts +0.5%, +4.1% y/y.  |
| French FinMin: Sees stronger growth in Q1 2011 Posted: Maintains 2% growth forecast for 2011 Says 2010 deficit will be better than 7.7% expectation, must keep 2011 target at 6% Maintains 2011 inflation forecast at 1.5%  |
| GERMANY DATA: Overall economic activity in Germany… Posted: GERMANY DATA: Overall economic activity in Germany slowed in fourth quarter of 2010 to +0.4% q/q, resulting in an annual change of +4.0% in workday adjusted terms, preliminary estimates out of the Federal Statistical Office reported on Friday. -- Germany 4Q real GDP SA Q/Q below MNI med. forecast (+0.5%) -- Germany ...  |
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