AUD/USD higher on fund buying

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• ZEW ‘s Schroeder: Debt crisis uncertainty driving index down, could be a very soft recession for Germany
• EU’s Rehn: Portugal’s delivery on its programme has been satisfactory
• German Oct ZEW econ sentiment index -48.3 vs -43.3 in Sep , (exp -45),
• UK Tsy:CPI In Line With BOE F’casts; Will Fall Back Next Year
• AUD/USD higher on fund buying
• GBP/USD straight back down after the CPI blip higher
• UK Analysis: Sep CPI Inflation Matches Highest Ever Recorded
• UK Sep CPI +0.6 %m/m +5.2 %y/y, RPI +0.8%m/m +5.6 %y/y
• UK CPI and RPI coming up at 0830GMT
• Germany Seeks Bids On E5 Bn Top Up Of Sep 2021 Bund Oct 19
• All look like a bit of stop hunt to me…
• EUR/USD hitting stops through 1.3720
• Sovereign snooping in the AUD/USD
• AUD/USD finding some support at 1.0170?
• Japan Sept Department Store Sales -2.4% Y/Y, 3rd Drop In Row
• Eurozone Car Registrations Up 1.3% Y/Y In September
• Eurostoxx futures down -1.1% early
• French FinMin says AAA credit rating not threatened
• JAPAN DATA: Monthly data from Japan Department…….
• Berlin experts fear euro break-up from bail-out escalation

ZEW ‘s Schroeder: Debt crisis uncertainty driving index down, could be a very soft recession for Germany Posted:

EU’s Rehn: Portugal’s delivery on its programme has been satisfactory Posted: But risks exist to Portugal attaining 2011 deficit target Planned 2012 measures are “courageous” Europe needs stronger financial backstops

German Oct ZEW econ sentiment index -48.3 vs -43.3 in Sep , (exp -45), Posted: German Oct ZEW current conditions 38.4 vs  43.6 in Aug (exp 39.6) Both weaker than expected with EUR/USD slipping again to lows of 1.3663.

UK Tsy:CPI In Line With BOE F’casts; Will Fall Back Next Year Posted: LONDON (MNI) – The UK Treasury put the blame for today’s higher-than-expected inflation numbers on rising energy prices and noted Bank of England forecasts that inflation is set to fall back rapidly in 2012. “The Government understands that these are difficult times for households, as price levels continue to be affected by high global oil [...]

AUD/USD higher on fund buying Posted: A UK fund manager was apparently responsible for that recent 30 pip jump in the AUD/USD to 1.0175, but the move quickly reversed and we’re back down around 1.0135/40. Offers remain up ahead of  1.0180 and 1.0200, Bids are down at 1.0100, with stops through 1.0095

GBP/USD straight back down after the CPI blip higher Posted: Tested support at  1.5700/10 after a reactionary high of 1.5785 on the CPI/RPI release., but market concerns over growth and QE outweigh, with a low of 1.5710 before a bounce back to 1.5730 /35 Looks like everyone had the same idea….

UK Analysis: Sep CPI Inflation Matches Highest Ever Recorded Posted: –Sep CPI +0.6% m/m; +5.2% y/y vs Aug 4.5% y/y; above median –Sep core CPI +0.2% m/m; +3.3% y/y vs Aug 3.1% y/y; above median –Sep RPI +0.8% m/m; +5.6% y/y; Aug RPIX +0.8% m/m; +5.7% y/y LONDON (MNI) – Consumer price inflation hit a three year high in September as utility bills soared, matching [...]

UK Sep CPI +0.6 %m/m +5.2 %y/y, RPI +0.8%m/m +5.6 %y/y Posted: vs expected CPI+  0.4 %m/m and  +4.9 %y/y, RPIX 0.8%m/m , +5.7% y/y Cable gets a leg up to  1.5785 from  1.5755 on the improved inflation data release, but meets sellers and quickly falls back to pre release levels

UK CPI and RPI coming up at 0830GMT Posted: Cable holding up fairly well ahead of this release with EUR/GBP taking the strain in early trading. One highly respected UK clearer is looking for a slightly above consensus CPI number of 0.5%m/m (vs 0.4% elsewhere) with RPI up at 0.7% (vs 0.5%). bearing in mind latest CFTC data is showing market positioning very short, we [...]

Germany Seeks Bids On E5 Bn Top Up Of Sep 2021 Bund Oct 19 Posted: FRANKFURT (MNI) – The German federal government called for bids Tuesday on its E5 billion top-up of the 2.25%-coupon September 2021, 10-year bund, the Bundesbank announced. Bids for the top-up are due by 9:00 GMT Wednesday, October 19, with results of the allocation to be announced shortly thereafter. The top-up tranche will settle on Friday, [...]

All look like a bit of stop hunt to me… Posted: Just seen stops flushed out on the downside in EUR/USD and AUD/USD, but follow through so far has been weak. Getting renewed reports now of Sovereign buying interest , last in the high 1.0130′s in AUD/USD Guess lack of vocals from ministers so far today has led the markets to test the side of obvious weakness [...]

EUR/USD hitting stops through 1.3720 Posted: Break here leads down to bids at 1.3685 (13 Oct low). We’ve been down to 1.3714 UPDATE: leveraged sellers behind this move lower as fall extends to 1.3706. Now informed 1.3685 should hold some reasonable bids on the first look

Sovereign snooping in the AUD/USD Posted: Just getting told of some sovereign interest to buy in the low 1.0160′s in the AUD/USD. AUD snagged a low of 1.0162 and we’re back up around 1.0170.

AUD/USD finding some support at 1.0170? Posted: 1.0170′s been the  recent low in a slow start for Europe, and hearing talk of sell stops building down through 1.0140. On the topside  looks like there should be some offers loitering in the 1.0225/30 area, but right now that looks miles away… Aud’s around 1.0180 Gerry’s off on a secret mission somewhere so I’ll be [...]

Japan Sept Department Store Sales -2.4% Y/Y, 3rd Drop In Row Posted: – Sales Hit by Major Typhoons, Lingering Summer Weather TOKYO (MNI) – Department store sales in Japan fell 2.4% in September, hit by two major typhoons on weekends, posting the third straight year-on-year drop, data released by the Japan Department Stores Association showed on Tuesday. Relatively high temperatures in the month also depressed autumn clothing [...]

Eurozone Car Registrations Up 1.3% Y/Y In September Posted: FRANKFURT (MNI) – Eurozone new car registrations rose by 116,289 on the month in September, cutting the annual change to +1.3% from August’s 8.0% gain, the Association of European Automobile Builders (ACEA) reported on Tuesday. Excluding Cyprus and Malta, data for which are unavailable, 810,030 new cars were registered in September. Between January and September, [...]

Eurostoxx futures down -1.1% early Posted: DAX futures down -0.9%, CAC 40 futures down -0.9%.

French FinMin says AAA credit rating not threatened Posted: France ahead of schedule on deficit reduction targets French GDP growth target of 1.75% for 2012 “surely too high”, will not revise now

JAPAN DATA: Monthly data from Japan Department……. Posted: JAPAN DATA: Monthly data from Japan Department Stores Association: –Japan Sept Department Store Sales -2.4% Y/Y Vs Aug -1.7% –Japan Store Sales Fall For 3rd Month In Row, Hit by Major Typhoons –Lingering Summer Weather in Sept Dampens Autumn Clothing Sales

Berlin experts fear euro break-up from bail-out escalation Posted: Well you didn’t expect him to be optimistic, did ya? Love him or loathe him, latest from AEP at The Telegraph.