USD/CAD lower on the day; notable seller seen

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• USD/CAD lower on the day; notable seller seen
• UK Data: April Mortgage Lending Falls 14% On Month – CML
• UK April Capital Issuance Dips From March High – BOE
• ECB’s Makuch: Troika mission results needed before deciding on further steps for Greece
• Cable ticks higher, tripping stops along the way
• For the nutters…..
• ITALY DATA: March industrial orders rose 8.1% m/m in.
• EMU DATA: The Eurozone current account deficit came..
• Italy March industry orders s.a +8.1% m/m, unadj +21.2% y/y
• Cable steady as a rock
• Dutch May adj consumer confidence -10 pts
• USD/JPY bank recommendation
• Spain’s PM: Govt studying committee decision not to allow weekend protests
• MNI Survey: Japan April Retail Sales Seen -6.0%; Mar -8.3%
• George Soros sells his gold
• MNI Survey: Japan April Trade Seen Posting Y696 Bln Deficit
• GERMANY DATA: Apr PPI +1.0% M/M, +6.4% Y/Y; Mar……
• German April PPI +1.0% m/m, +6.4% y/y
• Spain vote threatens to uncover debt – WSJ
• Another humdinger in Asia

USD/CAD lower on the day; notable seller seen Posted: USD/CAD down at .9648 from around .9670 when I arrived. Reports have a US. investment bank a notable seller of the pairing this morning. Same bank is also said to have been notable buyer of the NZD. Guess they’re a little partial to them there commodity currencies.

UK Data: April Mortgage Lending Falls 14% On Month – CML Posted: LONDON (MNI) – Gross mortgage lending fell back sharply in April, with April seeing two Easter Bank Holidays and an extra Royal Wedding Bank Holiday. Gross mortgage lending fell to stg9.8 billion in April, 14% down from the stg11.4 billion seen in March and down 5% from the stg10.3 billion seen in the same month [...]

UK April Capital Issuance Dips From March High – BOE Posted: LONDON (MNI) – Capital issuance fell back in April from the local peak in March, according to data issued by the Bank of England Friday. Total capital issuance by UK residents in April fell to stg51.64 billion from stg55.948 billion in March. April saw the second highest issuance this year, while the March outturn was [...]

ECB’s Makuch: Troika mission results needed before deciding on further steps for Greece Posted: “Troika mission”, sounds like something out of Man From U.N.C.L.E. Inflation well-anchored in mid to longer term in euro zone Recent inflation spike just temporary I’d label those last couple of comments “dovish.” EUR/USD back to where we started, namely 1.4320. Ho hum.

Cable ticks higher, tripping stops along the way Posted: Aforementioned stops through 1.6245 and 1.6260 have been tripped and we’ve been as high as 1.6270 so far. I’ve had reports of a UK clearer selling EUR/GBP this morning (down at .8808 from early 8820), but not much else.

For the nutters….. Posted: Who like to trade EUR/CHF. Getting reports of sell stops through 1.2580. We’re presently at 1.2590.

ITALY DATA: March industrial orders rose 8.1% m/m in. Posted: ITALY DATA: March industrial orders rose 8.1% m/m in seasonally-adjusted terms on increased domestic and foreign orders, posting the highest m/m gain since January 2006 (+10.9%). Orders gained 21.2% in unadjusted y/y terms, up from +16.2% y/y in February. –Mar seas. adjusted m/m domestic orders +3.7%; foreign orders +16.3% –Mar seasonally-adjusted turnover +15.5% m/m, workday [...]

EMU DATA: The Eurozone current account deficit came.. Posted: EMU DATA: The Eurozone current account deficit came to E4.7 billion in March from February’s E6.5-billion level, the European Central Bank said on Friday. – For more information, please see MNI MainWire

Italy March industry orders s.a +8.1% m/m, unadj +21.2% y/y Posted: Demonstrably firmer than median forecasts +0.5%, +15.7% respectively. Go Italy!!! Do you know I had gnocchi for the first time ever earlier this week. I rather liked it Had it smoothered in a really tasty pesto sauce. Elsewhere, euro zone s.a current account balance -4.7 bln in March vs -6.5 bln in February.

Cable steady as a rock Posted: Sits at 1.6225. Where it was when I sat down. Getting reports buy stops through 1.6245 and more through 1.6260.

Dutch May adj consumer confidence -10 pts Posted: Unchanged from April. Talking of unchanged; EUR/USD is unchanged from when I got in around 3 hours ago, presently at 1.4315. Just hearing earthquake shaking buildings in Tokyo.

USD/JPY bank recommendation Posted: Nomura apparently out with trade recommendation in USD/JPY. Buy 81.40. Stop 80.90. Target 82.40.

Spain’s PM: Govt studying committee decision not to allow weekend protests Posted: He respects peaceful youth protests Wants all rights to be guaranteed Deepest concern is job outlook Country has recovered from high jobless rates in the past No more cuts planned Collective bargaining agreement is near IMF replacement should be European Sees very positive jobs data in May It’s good for electoral mandates to last 4 [...]

MNI Survey: Japan April Retail Sales Seen -6.0%; Mar -8.3% Posted: TOKYO (MNI) – Japanese retail sales in April appeared to have posted a second straight year-on-year drop of 6.0% but the pace of decline would be slower than a revised 8.3% drop in March, according to the median forecast by economists polled by Market News International. The Ministry of Economy Trade and Industry will release [...]

George Soros sells his gold Posted: Interesting……..

MNI Survey: Japan April Trade Seen Posting Y696 Bln Deficit Posted: TOKYO (MNI) – Japan is expected to have posted a trade deficit of Y696.1 billion in April and a 12.4% year-on-year drop in exports after the March 11 earthquake disaster wrecked supply chains for automobiles and electronics, according to the median forecasts by economists surveyed by Market News International. The Ministry of Finance will release [...]

GERMANY DATA: Apr PPI +1.0% M/M, +6.4% Y/Y; Mar…… Posted: GERMANY DATA: Apr PPI +1.0% M/M, +6.4% Y/Y; Mar +6.2% Y/Y;Feb +6.4% –Germany Apr PPI above MNI median m/m fcast (+0.5%) –Germany Apr PPI above MNI median y/y fcast (+5.9%) –Germany Apr PPI ex-energy +0.4% m/m, +4.2% y/y; Mar +4.4% y/y –Germany Apr PPI ex-petroleum products +1.0% m/m, +5.7% y/y –Germany Apr PPI energy +2.6% [...]

German April PPI +1.0% m/m, +6.4% y/y Posted: Stronger than median forecasts of +0.6%, +6.0% respectively.

Spain vote threatens to uncover debt – WSJ Posted: As Socialists risk losing key areas, economists fear ‘hidden’ bills. Oh-eh.

Another humdinger in Asia Posted: More of the same in Europe please. EUR/USD sits at 1.4315, effectively unchanged from where North America closed out Thursday. Euro zone data due today: 06:00 GMT: German producer prices for April expected +0.6% m/m, +6.0% y/y 08:00 GMT: Euro zone currenct account for March 08:00 GMT: Italian industrial orders for March expected +0.5% m/m, [...]