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UK Feb Services Growth Slows After January Rebound

Posted:

--UK Feb CIPS Services PMI 52.6 Vs 54.5 In Jan - Markit/Reuters --Markit Says Underlying Pace Of UK Growth 'Flattish' ...

Spain sells 1146 mln in 2014 bond, 2652 mln in 2016 bond

Posted:

Top end of the 3 billion to 4 billion target range. Solid demand. Will have helped EUR/USD steady from slight early weakness. 2014 bond bid to cover ratio 3, average yield 3.592% 2016 bond bid to cover ratio 2.2 (up slightly from 2.1 previously), yield 4.389%, down from 4.542% previously.

SNB’s Jordan: No need for currency interventions as deflation risk has diminished

Posted:

USD/CHF AND EUR/CHF marked down on comment. Swiss franc at very strong level at the moment Liquidity has to be withdrawn in the longer term At the moment liquidity withdrawal is not necessary Raising rates is not a question of today or tomorrow Still large uncertainties about economic development Guess subsequent dovish remarks will be helping limit swiss ...

UK February services PMI 52.6

Posted:

Down from 53.6 in January and weaker than median forecast of 53.5. Cable down at 1.6295 from around 1.6320 prior to release as stops tripped through 1.6300.

If anyone really cares…….

Posted:

Talk of light stops through 1.3830 in EUR/USD. We're presently down at 1.3843. Swiss bank who sold EUR/JPY also seen selling EUR/USD this morning. ACB also said to have sold earlier. Didn't get name. I did receive reports Korea had sold above 1.3865 overnight, so could have been them again. Talk ...

Swiss National Bank Reports CHF 19.17 Bln Consolidated Loss

Posted:

FRANKFURT (MNI) - The Swiss National Bank Thursday reported a consolidated loss of CHF 19.17 billion for 2010. The bank's net result from gold was CHF -1.502 billion and its net result from foreign currency positions was CHF -29.066 billion. ...

Euro zone February final services PMI 56.8

Posted:

Below 57.2 flash estimate. Composite 58.2, slightly below flash estimate of 58.4.

German February final services PMI 58.6

Posted:

Below flash estimate of 59.5.

French February final services PMI 59.7

Posted:

Below 60.8 flash estimate.

Italy February services PMI 53.1

Posted:

Up very nicely from 49.9 in January and better than median forecast of 51.2. Highest read in 3 months.

Riksbank Gov Ingves: Excessively Strong Fx Could Pose Problem

Posted:

FRANKFURT (MNI) - Swedish exports could be at risk if investors continue to see benefits in pouring capital into the Swedish economy, Riksbank Governor Stefan Ingves warned Thursday. The Governor told the country's parliament that it "cannot be ruled out ...

EUR/USD touch easier in very slow trade

Posted:

EUR/USD has slipped very marginally, presently at 1.3850. Sources report a Swiss bank offloading a chunk of EUR/JPY, which accounts for some of the decline. The cross is down at 113.30 from around 113.55 when I arrived. Just under five hours to go before Trichet. Give me strength.......

USD/JPY whizzing all over the shop…….

Posted:

Just checking to see if anyone's still awake. Probably not. USD/JPY sits at 81.82 bid from 81.86 bid when I arrived. Buy orders 81.50/60, stops below. Corporate sell orders 82.10/20, stops through 82.25 before more sell orders up at 82.40/50. Happy Dayz.....

Swiss retail sales -2.6% y/y in January

Posted:

Compared to revised -0.8% in previous month. Not very edifying. Don't know what the median forecast was and to be honest couldn't care less.

Spain’s February services PMI 50.8

Posted:

Up from 49.3 in January and better than median forecast of 49.5. Highest read since July.

Cable steady early….

Posted:

Let's see if that works. Yesterday when I posted similar headline the proverbial hit the fan. Cable sits at 1.6320, unchanged over past couple of hours. Talk of light trailing stops just below 1.6300. Talk barrier option interest 1.6350. Talk stops just above there. Lotta talk, precious little action. 09:30 GMT sees release of ...

Eurostoxx futures up 0.5% early

Posted:

DAX futures up 0.4%, CAC 40 futures up 0.4%

Irish February services PMI rises to 55.1

Posted:

From 53.9 in January. Expanded at fastest pace in seven months. We always like a bit of good Irish news here at ForexLive, to be sure.

German January prelim retail sales +1.4% m/m, +2.6% y/y

Posted:

Stronger than median forecasts +0.5% m/m, +1.6% y/y

Germany’s January Retail Sales Outperformed Expectations

Posted:

Real, seasonally adjusted retail sales: January: +1.4 m/m, +2.6% y/y MNI survey median: +0.9% m/m MNI survey range: +0.4% to +1.1% m/m December: +0.3% m/m, -0.5% y/y FRANKFURT (MNI) - ...

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