Monti warns of Italy protests

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• World Economic Forum: Warns of rising imbalances, wider income gap
• ECB Allots $5.723 Bln In 7-Day USD Liquidity Providing Op
• Orders, levels, etc….
• UK Data: Nov Trade Gap Widens But Q4 Deficit Set To Fall
• Monti warns of Italy protests
• UK Nov Visible trade balance -£ 8.644 bln from -£7.868 bln in Oct
• AUD/USD holding firm on Chinese demand
• ESM will get bank license – EU’s Schulz
• EUR/USD ticks little higher
• China been buying AUD/USD
• German 2011 real GDP 3%
• German auction later this morning
• Hedge funds lock horns with IMF on Greek debt
• Spanish banks try to build their way out of home glut – WSJ
• ECB’s Nowotny: Austria needs debt brake
• Ideas Corner/January 11th
• Japan’s leading economic indicator +0.9% Mom, slightly below forecasts
• Japan Nov Key Index Posts 1st Drop in 2 Months on Output
• ForexLive Asian market wrap: USD edges higher in quiet trade
• JAPAN DATA: Monthly preliminary composite indexes….

World Economic Forum: Warns of rising imbalances, wider income gap Posted: Former wealthy countries could suffer spiral of decay Wants greater transparency, information sharing on risks

ECB Allots $5.723 Bln In 7-Day USD Liquidity Providing Op Posted: FRANKFURT (MNI) – The European Central Bank said Wednesday that it has allotted $5.7229 billion in its 7-day USD liquidity providing operation. The central bank said it received 15 bids. Today’s operation was carried out at a fixed rate of 0.58%. The Euro/USD rate was set at 1.2753. –Frankfurt Bureau tel.: +49-69-720 142, email: frankfurt@marketnews.com [...]

Orders, levels, etc…. Posted: By popular request….(honest) EUR/USD:  Offers 1.2785/95, 1.2815/25 and tech resistance at 1.2865. Bids 1.2715/25 , sell stops below AUD/USD: Offers 1.0320 up to 1.0350 ( trendline res 1.0343),  1.0365/75 ahead of 1.0400 barrier and 200 day MA at 1.0412.  Bids 1.0265/75. GBP/USD: Offers 1.5500 and up to 1.5525,  tech support 1.5445/50 EUR/GBP: Bids 0.8220/30.  Tech [...]

UK Data: Nov Trade Gap Widens But Q4 Deficit Set To Fall Posted: –Nov Global Goods Trade Deficit Stg8.644bn vs Stg7.868bn Oct –Nov Non-EU Goods Trade Deficit Stg5.021bn vs Stg4.556bn Oct –Nov Total Trade Deficit Stg2.566bn vs Stg1.861bn Oct LONDON (MNI) – The UK’s goods trade deficit widened in November, but the current trend suggests a narrowing in Q4, suggesting net exports may make a positive contribution to [...]

Monti warns of Italy protests Posted: Ahead of his meeting with Merkel, Italian PM Monti has warned that his austerity measures may trigger protests without signs of progress. In an interview with Die Welt, the official says “I am demanding heavy sacrifices from Italians” adding “I can only do this if concrete advantages become visible.” He went on to warn, if [...]

UK Nov Visible trade balance -£ 8.644 bln from -£7.868 bln in Oct Posted: Against expectations of £-8.4 bln Nov Non EU goods deficit £5.021bln from £4.556 bln in Oct, Total trade deficit £2.566 bln from £1.861 bln in Oct Little change  with cable still stuck around 1.5480

AUD/USD holding firm on Chinese demand Posted: We’ve nudged up through the Asian highs of 1.0318 to 1.0322 but now stalling into  offers which start from 1.0320 up to 1.0350. Trend line resistance which held yesterday’s high of 1.0353 in NY now comes in at 1.0343  today. A break through here can push up towards more offers cited at 1.0365/75 ahead of [...]

ESM will get bank license – EU’s Schulz Posted: Martin Schulz, a leading candidate for presidency of the European Parliament and floor leader of the Socialist group in the Parliament, says Merkel must “tell the truth” on the need to give ESM a bank license to refinance itself at the ECB. Schulz, in an interview with Rheinische Post, also opined that the Chancellor must [...]

EUR/USD ticks little higher Posted: Presently at 1.2775.  Talk BIS and Middle Eastern names notable buyers in early European trade. When all said and done we look pretty bogged down at the present time.

China been buying AUD/USD Posted: This morning. We’re up at 1.0305 from around 1.0285 when I parked my bum.

German 2011 real GDP 3% Posted: As expected. 2011 public sector deficit 1% of GDP. EUR/USD sits at 1.2755 in comatose trade.

German auction later this morning Posted: Germany sells new 5 year benchmark 0.75% February 2017 BOBL 162 issue for up to 4.0 billion euros. Results due shortly after 10:30 GMT.

Hedge funds lock horns with IMF on Greek debt Posted: Reuters article

Spanish banks try to build their way out of home glut – WSJ Posted: Doesn’t sound very promising.

ECB’s Nowotny: Austria needs debt brake Posted: Pressure to reduce Austrian debt is ‘acute’ Hopes problems in Hungary are solved No danger from Hungary for Austrian banks Dow Jones reporting.

Ideas Corner/January 11th Posted: If you have any ideas you’d like to share with your fellow readers, here’s where to stick ‘em.

Japan’s leading economic indicator +0.9% Mom, slightly below forecasts Posted: More

Japan Nov Key Index Posts 1st Drop in 2 Months on Output Posted: – Japan Nov Prelim Coincident CI -1.1 Pt M/M; MNI F’cast -1.0 Pt – Japan Govt Repeats CI Shows Economy Has Stopped Falling – Japan Nov Prelim Leading CI +0.9 Pt M/M; MNI F’cast +1.0 Pt TOKYO (MNI) – Japan’s coincident composite index (CI), which reflects current business conditions, fell 1.1 points to 90.3 in [...]

ForexLive Asian market wrap: USD edges higher in quiet trade Posted: Australian job vacancies fall by 3.3% South Korean unemployment rate steady near 3.1% Oil -0.4%; Gold +0.4% to $1638/oz Regional bourses mixed; Tokyo and HK +0.2%, Shanghai and Seoul -0.2% Mitt Romney wins New Hampshire primary Japan’s December FX reserves fall from record highs Geithner to meet with Japan and China; urges action on Iran [...]

JAPAN DATA: Monthly preliminary composite indexes…. Posted: JAPAN DATA: Monthly preliminary composite indexes from the Cabinet Office: – Japan Nov Coincident Index -1.1 Points M/M – Japan Nov Leading Index +0.9 Point M/M – Japan Govt Repeats CI Shows Economy Has Stopped Falling