Eurozone economic sentiment surprised to the downside

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• EMU DATA: Eurozone economic sentiment surprised to…
• EMU DATA: The Eurozone business climate index fell a.
• ECB: Eurozone Banks To Tighten Loan Standards Again In 3Q
• Decent bounce on the EUR/JPY
• ECB’s Mersch: New Sources Of Inflation May Come From Abroad
• Germany’s Jobless Level Reaches 20-Year Low In July
• EUR/USD sharply higher as stops taken out…
• ECB: 20% of banks reported decline in risk weighted assets over past 6 months, expect further decline in next 6 months due to Basel 111
• ECB’s Mersch: Myths of premature collapse of euro not based on facts and figures
• GERMANY DATA: Unemployment in Germany fell by a……
• Greek Fin Min: Wants bond swap project to be completed as soon as possible
• German July seas adj jobless total-11,000 to 2.957 mln
• Option expiries
• Swedish unemployment 8.8% in June vs 8.6% median
• EUR/USD support towards 1.4330
• Spain June real workday-adjusted retail sales fall 7%y/y
• Schaeuble: Greece Will Need A Decade To Regain Competitiveness
• AUD/USD standing firm in early Europe
• Looking ahead this morning….
• Germany’s ILO Employment Up 54K In June To New Record High

EMU DATA: Eurozone economic sentiment surprised to… Posted: EMU DATA: Eurozone economic sentiment surprised to the downside, falling to 103.2 in July, its lowest level since August 2010, from an upwardly-revised 105.4 in June, the European Commission reported on Thursday. – EMU July econ sentiment below MNI survey fcast median (104.0) – EMU July consumer confidence down to -11.2, below fcast (-11.0) – [...]

EMU DATA: The Eurozone business climate index fell a. Posted: EMU DATA: The Eurozone business climate index fell to a 13-month low of +0.45 in July from an upwardly-revised +0.95 in June, the European Commission reported on Thursday. – For more information, please see MNI Mainwire

ECB: Eurozone Banks To Tighten Loan Standards Again In 3Q Posted: –Slightly More Tightening Seen For Businesses, Unchanged For Housing BRUSSELS (MMI) – Eurozone banks will continue to tighten their credit standards in the third quarter for loans to businesses and households, the European Central Bank reported Thursday in its latest Bank Lending Survey. The ECB said banks on balance will slightly increase the degree of [...]

Decent bounce on the EUR/JPY Posted: Off the lows seen last Thursday again at 111.44, with a jump back to 111.89 on that last run up with EUR/USD. Offers remain above at 112.00/10 and 112.60/65. Support is at 111.40/45 and 111.15/20

ECB’s Mersch: New Sources Of Inflation May Come From Abroad Posted: FRANKFURT (MNI) – European Central Bank Governing Council member Yves Mersch on Thursday underlined the importance of inflation expectations remaining firmly anchored and, noting further upward pressure from high commodity prices, stressed that second-round effects must be avoided. “At the current juncture, new sources of inflationary pressure may therefore emerge,” the governor of the central [...]

Germany’s Jobless Level Reaches 20-Year Low In July Posted: SA Unemployment: -11k (pan-German), -8k (West), -3k (East) MNI survey median: -10k m/m MNI survey range: -25k to -3k m/m – FRANKFURT (MNI) – Unemployment in Germany maintained its downward trend in July, falling slightly more than generally expected to a 20-year low, the Federal Labour Office reported on Thursday. While the seasonally adjusted jobless [...]

EUR/USD sharply higher as stops taken out… Posted: Stop were hit on the move up through 1.4380 to 1.4400. Offers now awaiting 1.4400/10 with more stops through the level. No clear reason for the move, but there is an unsubstantiated rumour that ECB was buying peripheral bonds. This usually amounts to nothing, so we could see a tick back lower, but hell, what [...]

ECB: 20% of banks reported decline in risk weighted assets over past 6 months, expect further decline in next 6 months due to Basel 111 Posted:

ECB’s Mersch: Myths of premature collapse of euro not based on facts and figures Posted: New sources of inflationary pressure could emerge Accelerated inflation in emerging markets risks causing imported inflation in developed world Recent agricultural, raw material price increases may be more persistent than assumed Data points to ongoing recovery in EU zone, albeit at slower pace

GERMANY DATA: Unemployment in Germany fell by a…… Posted: GERMANY DATA: Unemployment in Germany fell by a seasonally-adjusted 11,000 in July to 2.957 million, the Federal Labour Office reported on Thursday, leaving the jobless rate unchanged at 7.0%, as expected. – Germany July sa unemployment -11k (MNI median -10k) – Germany July sa unemployment rate 7.0% (MNI median 7.0%) – Germany July sa unemployment [...]

Greek Fin Min: Wants bond swap project to be completed as soon as possible Posted: IMF will support Greece as long as country fulfills its obligations

German July seas adj jobless total-11,000 to 2.957 mln Posted: July jobless rate 7% unchanged from June Unadjusted jobless total rises to 2.939mln from 2.893 mln in June

Option expiries Posted: For today’s 1000 NY cut… EUR/USD: 1.4350, 1.4400, 14500 GBP/USD: 1.6020 EUR/JPY: 110.50 AUD/USD: 1.1025 GOLD: 1600

Swedish unemployment 8.8% in June vs 8.6% median Posted: June retail sales +3.1% m/m, +3.4% y/y

EUR/USD support towards 1.4330 Posted: Recent fall stopped just short of the 1.4330 level seen in Asia, with some EUR/AUD sales weighing down the pair. Stops now reported on a break down through 1.4320, with further support towards the 55 day MA at 1.4310. Offers towards 1.4380 Euro’s around 1.4348

Spain June real workday-adjusted retail sales fall 7%y/y Posted:

Schaeuble: Greece Will Need A Decade To Regain Competitiveness Posted: BERLIN (MNI) – Greece will need years to regain its competitiveness, German Finance Minister Schaeuble said in a newspaper interview published Thursday. “The Greeks will likely need a decade to become competitive again,” Schaeuble told the German regional daily Passauer Neueste Nachrichten. Commenting on the U.S. debt row, the finance minister said, “I remain confident [...]

AUD/USD standing firm in early Europe Posted: Overnight low in Asia around the previous high of $1.1012 is so far holding as support, with ozzie currently being underpinned by a resumption of EUR/AUD sales this morning from hedge funds. AUD/USD is currently trading in the lows 1.1040′s and the cross has broken down through 1.3000, heading for the January lows around 1.2945/55 Talk [...]

Looking ahead this morning…. Posted: 0755 GMT German unemployment 0800GMT ECB lending survey for the Eurozone 0900 EU Consumer/industrial confidence indexes 1000 UK CBI distributive trades Good morning all

Germany’s ILO Employment Up 54K In June To New Record High Posted: – Jun +54k, May +38k, Apr +44k, Mar +44k, Feb +48k, Jan +71k FRANKFURT (MNI) – Employment in Germany rose by 54,000 in June to a new record high of 40.892 million, the Federal Statistical Office reported on Thursday. Over the past 17 months, employment measured in International Labour Organisation terms has increased by an [...]