Eurozone Retail Sales Fall To 16-Month Low In March

Analysis: Eurozone Retail Sales Fall To 16-Month Low In March

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Real, seasonally and workday-adjusted retail sales: March: -1.0% m/m, -1.7% y/y MNI survey median: +0.2% m/m, flat y/y MNI survey range: -0.3% to +0.7% m/m February: +0.3% m/m (revised from -0.1%) January: +0.3% m/m (revised from +0.2%) December: -0.2% m/m (revised from -0.3%) November: -0.1% m/m (revised from flat) -- ...

EMU DATA: Retail sales surprised to the downside in..

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EMU DATA: Retail sales surprised to the downside in March, falling 1.0% on the month to give an annual decline of 1.7%, Eurostat reported on Wednesday. -- EMU March retail sales m/m below MNI median fcast (+0.2%) -- EMU February retail sales rev +0.3% m/m (-0.1%) -- EMU 1q retail sales ...

CIPS/Markit: UK Construction PMI Slowed Markedly In April

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--UK House Building Sees Contraction For First Time This Year --Construction Sector New Orders See Continued But Slower Growth --Markit/CIPS Cast Doubt On Dismal NS Q1 Construction Data ...

Euro zone March retail sales -1.0% m/m, -1.7% y/y

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Demonstrably weaker than median forecasts of +0.1%, flat respectively. On the flip side, Februarys' data revised upward to +0.3% m/m (prev -0.1%), +1.3% y/y (previous +0.1%)

For what it’s worth…..

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Being told a "well repected" central bank has been selling EUR/AUD in recent trade. But I thought they always moved together? Why dey botherin?

UK Mar Mortgage Approvals Rise; M4 Ex-IOFCs Growth Slows: BOE

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--BOE: Q1 M4 Ex-Intermediate OFCS 0.9% 1Q Ann; 1.7% 4Q Rate --BOE: UK Mar House Purchase Approvals 47,557 vs 46,708 in Feb --BOE: UK Mar M4 Ex-IOFCs 1.0% 3m ann.; 1.7% 12m Rate --UK Mar Net ...

UK construction PMI 53.3 in April

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Down from 56.4 in March and weaker than median forecast of 55.5. Cable tanks to 1.6460 at writing. Elsewhere, UK March mortgage approvals 47,557 vs Februarys' 46,708, pretty much in line with median forecast of 48,000. Highest since Nov 2010

Euro zone April (final) services PMI 56.7

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Down from flash 56.9 Composite unchanged from flash estimate at 57.8.

Italian April services PMI 52.2

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Down from 53.3 in March and below median forecast of 52.9 French April services PMI (final) 62.9, down from flash 63.4 German April services PMI (final) 56.8, down from flash 57.7 Down, down, leader of down. EUR/USD down at 1.4837. Large prop trader been selling in recent trade. Chop, chop, chooooooopy!!!

BIS sells EUR/USD

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Above 1.4870. We're at 1.4865 presently.

Aha, now it might get interesting…..

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Getting reports a large US custody bank has stepped into the market and is selling AUD/USD. We're presently at 1.0868. At times this entity can be pretty lumpy (do large amounts), so will be interesting to see whether they can slow the present rally.

EUR/USD firmer

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Up at 1.4857. Asian sovereigns been buying EUR/USD and AUD/USD. Run it up, run it down, run it up, run it down. Same shit, different day. Still ensconsed in 1.4750-1.4900 range though. I might get excited if I see 1.4915 bid......but then again maybe not.

BOE Offers Unltd Usd In 7-Day Repo, Fixed Rate 1.10%

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LONDON ((MNI) - The Bank Of England said Wednesday it was offering an unlimited supply of U.S. dollars in a 7-day repo operation, settlement date May 5 maturing May 12 2011. The Bank said the repo would be at a fixed-rate, with the ...

AUD/USD firms

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Article from David Bassanese (apparently one of the better-rated RBA watchers) in AFR is being noted. He opines that an aussie rate rise is coming sooner than expected....... Oh-eh. AUD/USD up at 1.0865 from around 1.0815 when I arrived.

Portuguese 10 year govt bond yield falls to 10.9%, around 14 bps down on day after bailout deal

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Portuguese/German 10-year govt bond yield spread tightens to 681 bps, 14 bps narrower on day Portugal's PSI celebrates by soaring...............................0.3%

USD/JPY rocking and rolling….

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Not really. Just checking to see whether you're all awake. Up 9 pips since I've been in though. Buy orders mentioned yesterday at 80.70 down to 80.50 continue to provide some support. Usual mumblings of Kampo in residence down there. Closer we get to the psychological 80.00 level, the greater the fear of official intervention. Now ...

Portugal bailout deal includes up to 12 bln for possible banking sector recapitalisation – Source

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Portuguese banks have to raise core tier capital ratios to 9% end-2011, 10% at end-2012 Bailout deal envisages 5.3 bln in privatisation revenues until 2013