Germany’s June Business Morale Up Unexpectedly

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• Update: Ifo: Germany’s June Business Morale Up Unexpectedly
• More Abberger: Greece is not a big problem to the real economy in Germany
• Spanish govt has asked banks to roll over Greek debt for next five years – Source
• Ifo: Germany’s Business Morale Recovers Unexpectedly In June
• Ifo’s Abberger: Seeing enormous economic risks, especially on international front
• Ifo German business climate index 114.5
• Talk BIS bought at 1.4200 in EUR/USD
• Cable enjoys little bounce back…
• Dutch June business confidence +2.0 pts
• EUR/USD extends slippage
• For all you brave souls who like to trade swissy….
• Shanghai share index ends up provisional 2.1%
• ECB Noyer: Banks Understand They Must Stay Invested In Greece
• FRANCE DATA: June consumer sentiment 83, unchanged…
• French consumer confidence 83.0 in June
• EUR/USD slips as European trade gets underway
• ECB’s Noyer: Banks understand must take part in Greece bailout
• EU leaders appoint Draghi ECB President until 2019
• BOE Posen: EMU Govts Must Recap Banks To Manage Crisis Better
• Eurostoxx 50 futures up +1.7%

Update: Ifo: Germany’s June Business Morale Up Unexpectedly Posted: –Adds Results for Sectors June MNI analysts survey May April median range ——————————————————————— Business sentiment: 114.5 113.7 113.0-114.0 114.2 114.2 Current conditions 123.3 121.0 120.4-121.5 121.5 121.0 Six-month outlook: 106.3 106.9 105.0-107.1 107.4 107.7 – FRANKFURT (MNI) – Business morale in Germany recovered in June for the first time since February, as companies’ assessment of [...]

More Abberger: Greece is not a big problem to the real economy in Germany Posted: Oh, that’s OK then. Sees no risk of German economy overheating Expects German Q2 GDP to be “very weak” after very strong Q1

Spanish govt has asked banks to roll over Greek debt for next five years – Source Posted: I think we already knew that was happening.

Ifo: Germany’s Business Morale Recovers Unexpectedly In June Posted: June MNI analysts survey May April median range ——————————————————————— Business sentiment: 114.5 113.7 113.0-114.0 114.2 114.2 Current conditions 123.3 121.0 120.4-121.5 121.5 121.0 Six-month outlook: 106.3 106.9 105.0-107.1 107.4 107.7 – FRANKFURT (MNI) – Business morale in Germany recovered in June for the first time since February, as companies’ assessment of current conditions brightened even [...]

Ifo’s Abberger: Seeing enormous economic risks, especially on international front Posted: Export expectations of German companies in June declined clearly (expectations came in at 106.3, down from previous 107.4 and very slightly below median forecast of 106.40) Every drop in oil price is positive impulse for global economy Expect no strong economic impact from planned tax cuts in Germany Expects further interest rate hikes by ECB in July [...]

Ifo German business climate index 114.5 Posted: Better than median forecast of 113.4. EUR/USD up at 1.4233. Clever old BIS. There had been a rumour of a weak Ifo report just ahead of the actual release. Wrong!! Lucky I didn’t pass on the rumuor, hey?

Talk BIS bought at 1.4200 in EUR/USD Posted: Touch higher at 1.4208 presently.

Cable enjoys little bounce back… Posted: Presently at 1.5980. And where did it rally from? Why 1.5960 ofcourse. Spooky hey I don’t care where it goes now. I’m vindicated, yes fully vindicated. All you doubters can go swivel…..

Dutch June business confidence +2.0 pts Posted: Down from +3.1 in May.

EUR/USD extends slippage Posted: Stops been tripped through 1.4225 and we’ve been as low as 1.4216 so far. Hedge fund said to have been sizeable seller through UK clearer in recent trade. Gold has extended losses, NYM light crude only up quarter of a buck now. Seems very nervy out there.

For all you brave souls who like to trade swissy…. Posted: SNB quarterly bulletin up at 07:30 GMT.

Shanghai share index ends up provisional 2.1% Posted: Biggest daily percentage rise in more than 4 months. Invest in China!!! I have a sneaky suspicion it could have potential. ‘Tomorrow’s conventional wisdom today!” Don’t say you weren’t warned What pretentious pillock came up with that slogan anyways?

ECB Noyer: Banks Understand They Must Stay Invested In Greece Posted: PARIS (MNI) – Private sector banks know they must retain their investments in Greece in order to help solve the country’s debt crisis, European Central Bank Governing Council member Christian Noyer said Friday. “I think they understand very well that they must remain present, but that they must do it in a way that is [...]

FRANCE DATA: June consumer sentiment 83, unchanged… Posted: FRANCE DATA: June consumer sentiment 83, unchanged from May (rev 84) –Consumer morale below expected; MNI survey median 84 –June future inflation fears rise to -13 vs May -14 (-15) –June sentiment on good time to buy -26 vs May -28 (-28) –June jobless worries ease to +30 vs May +31 (+31)

French consumer confidence 83.0 in June Posted: Unchanged from downwardly revised 83.0 in May (previous 84) Slightly below median forecast of 84.0.

EUR/USD slips as European trade gets underway Posted: Presently at 1.4237. I’m noticing gold, oil slipping. Don’t tell me someone’s gone and flipped the risk on/risk off switch again already. Just being told sell stops now through 1.4225 in EUR/USD.

ECB’s Noyer: Banks understand must take part in Greece bailout Posted:

EU leaders appoint Draghi ECB President until 2019 Posted: Who would have thunk it?

BOE Posen: EMU Govts Must Recap Banks To Manage Crisis Better Posted: Frankfurt (MNI) – Eurozone governments must strengthen weak banks to limit contagion risks from a potential Greek debt restructuring, Bank of England Monetary Policy Committee member Adam Posen said in an opinion piece published Friday. Member states must “address the problems of their banks directly and solve them permanently,” Posen wrote in the German business [...]

Eurostoxx 50 futures up +1.7% Posted: Dax futures up +1.4%, CAC 40 futures up +1.6%.