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BOE: Jan Mortgage Approvals Edge Up In January, M4 Slumps

Posted:

--BOE Jan M4 Ex-intermediate OFCS +4.9% 1Q Ann; +2.1% 4Q Ann --BOE: UK Jan House Purchase Approvals 45,723 vs 42,719 Dec --BOE: UK Jan Net Mortgage Lending stg1.801bn vs -stg0.268bn Dec ...

UK Feb Markit/CIPS Manufacturing PMI Sticks At Survey High

Posted:

--PMI Activity Index At 61.5 Vs Rev. Jan 61.5 (62.0); MNI Median 61.3 --Inflation Pressures Remain Elevated; Employment At New Record High LONDON (MNI) - UK manufacturing activity remained at a record high in February, according to the Markit/CIPS purchasisng managers' survey which began in 1992. ...

UK February manufacturing PMI 61.5

Posted:

Pretty much in line with median forecast of 61.0. January mortgage approvals 45,723, much better than median forecast of 43,000. Mortgage lending +1.801 bln, much better than median forecast of +0.15 bln, and highest since Febraury 2010. On the flip side, January consumer credit -0.333 bln, weaker than median forecast +0.14 bln ...

CORRECTION CORRECTION: Middle East buys EUR/USD

Posted:

In recent trade. So much for that theory. I think I need stronger glasses. Totally misread message sent to me. Apologies.

Germany Seeks Bids On E5 Bn Top Up Of 2.00% S159 Bobl Mar 2

Posted:

FRANKFURT (MNI) - The German federal government on Tuesday formally sought bids for the E5 billion top-up of its 2.00% coupon Series 159 5-year Bundesobligationen (Bobls) to be sold March 2. Bids are due by 1000 GMT on Wednesday, March ...

Euro zone February final manufacturing PMI 59.0

Posted:

In line with flash estimate and as expected. Elsewhere, Italian January unemployment 8.6%, unchanged from December and as expected.

Germany’s SA Unemployment -52K In Feb, Beating All Forecasts

Posted:

SA Unemployment: -52k (pan-German), -39k (West), -13k (East) MNI survey median: -52k m/m MNI survey range: -30k to -8k m/m -- FRANKFURT (MNI) - The ranks of the unemployed in Germany fell much more than generally expected in February, the Federal Labour Office reported on Tuesday. ...

German February s.a jobless total falls -52k to 3.069 mln

Posted:

Much better than median forecast of -15k. Unemployment rate falls to 7.3% from 7.4% in January. EUR/USD has been up to 1.3845 on run of better than expected PMI and German jobs data.

German February final manufacturing PMI 62.7

Posted:

Up fractionally from flash estimate of 62.6.

French February final manufacturing PMI rises to 55.7

Posted:

Up very marginally from flash estimate of 55.3.

Italy February manufacturing PMI 59.0

Posted:

Up from 56.6 in January, some way better than median forecast of 57.0 and highest read since April 2000

EUR/USD slips back slightly; notable seller seen

Posted:

We sit at 1.3817. Sources report a large US hedge fund has stepped in selling EUR/USD in recent trade. Talk of buy stops now through 1.3840. I'd hazard a guess they're not overly large given proximity of Feb 2 high at 1.3862. Talk of stops gathering in 1.3865/75 area, which is ...

Swiss PMI index 63.5 in February

Posted:

Stronger than median forecast of 60.9.

Pop goes the weasel

Posted:

Barrier at 1.6300 is no more. Stops tripped just above and we've been as high as 1.6321 so far. Sell orders seen 1.6335/50. Probably more stops just above there. Trailing stops now being left in 1.6280/85 area by "range break buyers" I'm being told.

EU document for March 11 leaders’ talks: Euro zone should have national debt rules

Posted:

Up to euro zone countries to decide on form of fiscal rule Euro zone countries should make pension, social benefit systems sustainable Wage, productivity developments key for competitiveness, unit labour costs to be monitored EU exec to present proposal on common consolidated corporate tax base in coming weeks (now why do I think ...

JAPAN DATA: Japan’s tax revenue fell 2.3% on year in.

Posted:

JAPAN DATA: Japan's tax revenue fell 2.3% on year in January, reversing a 3.4% rise in December, mainly because inheritance tax revenue fell 35.2% from a year earlier, when it was up sharply on a tax system change, the Ministry of Finance said. Income tax revenue fell 1.7% in January ...

Japan Corporate Sector Leads Recovery, Risks in Households

Posted:

By Yasuhiko Seki TOKYO (MNI) - Japan's industrial output rose for a third straight month in January and core private-sector machinery orders snapped a three-month decline in December in a sign that the world's third-largest economy is moving out of a temporary lull. ...

JAPAN DATA: Sales at major Japanese department in….

Posted:

JAPAN DATA: Sales at major Japanese department stores improved in February from January, preliminary data released by some of them showed. Sales at Isetan rose 2.6% on year in February, up from +1.7% in January. Sales at Mitsukoshi were up 10.8% y/y in February, also up from +8.1% in January. ...

Foreign Ministry says China to maintain diversified investments for foreign currencies

Posted:

Seems like a jolly good idea.

Cable ticks higher as Europe gets underway

Posted:

Cable has advanced about 20 pips since I got in, presently at 1.6285. Interesting to see Sean's report of China with a 1.60-1.6300 dnt in place. Certainly makes sense given recent price action and all the talk Sean had of China buying down around 1.6000. Gotta expect fairly lumpy stops ...

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