Italy January manufacturing PMI 46.8




Link to ForexLive

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Some decent offers slowing down this rally now but  buy stops just tweaked as we broke the level to a high of 100.06. There are more offers  up at 100.15/25 and 100.40/50
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LONDON (MNI) – The UK manufacturing sector saw a sharp pick-up in activity in January, expanding at its fastest pace since last May. The headline Markit/Chartered Institute of Purchasing and Supply index from Reuters came in at 52.1, well above analysts’ median forecast for a 49.8 outturn, and up from a revised from 49.7 in [...]
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There was some earlier buying from  model accounts , but it’s failed to stop the rot as USD falls to 76.04 Talk of semi-official (Kampo) bids resting at 76.00, which should hold things up for now , but bounces are rather “dead-cat” at the moment. below here is some tech support at 75.85/90
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– Survey Conducted Before And After E489 billion 3-year Loan Injection – ECB’s Three-year Loans May Yet Have A Positive Impact FRANKFURT (MNI) – Eurozone banks expect to continue tightening conditions on loans this quarter, but they may do so less aggressively than in 4Q, perhaps reflecting the tonic effect of the European Central Bank’s [...]
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We’ve been up to 0.8313 and its scuppering the cable buyers targeting the barrier for now EUR’s at  0.8311 and Cable’s holding around 1.5785 again EUR/GBP support at 0.8380/85 with initial tech resistance up around 0.8345
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Much better than forecast and highest since May last year. GBP/USD got a lift to a day’s high of   1.5787, but barrier protection offers are weighing now
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But running into offers above 1.5780 with likely larger offers ahead of the barrier. Talk of buy stops up through 1.5810/15. Tech suppport  lies at 1.5710/15, ahead of major/key support at 1.5650/55 We’re presently sitting at 1.5775
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– Survey Conducted Before And After E489 billion 3-year Loan Injection – ECB’s Three-year Loans May Yet Have A Positive Impact FRANKFURT (MNI) – Eurozone banks expect to continue tightening conditions on loans this quarter, but they may do so less aggressively than in 4Q, perhaps reflecting the tonic effect of the European Central Bank’s [...]
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BOLLOX!!!!!! I’m with Annie, I’ve had my fill of this happy horseshit….. EUR/USD through first cluster of sell orders aforementioned at 1.3085/95.   Next lot mentioned 1.3110/20. Both lot’s including real money interest apparently. UPDATE:  Meanwhile IMF official says Troika talks to conclude “very soon”   “Soon” seems real in vogue word this morning. Soon I’m gonna disappear [...]
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FRANKFURT (MNI) – The following is the verbatim text of the additional ad hoc questions from the European Central Bank’s latest Bank Lending Survey, published on Wednesday: The January 2012 BLS round included three additional ad hoc questions. The replies to these are summarised below: - Regarding bank access to market funding, euro area banks [...]
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Been told they were seen down in the 1.0620′s recently. Offers are sitting in the 1.0640/50 zone ahead of some more up at 1.0675/85. 1.0700 holds a barrier and option related protection offers are seen ahead of it.  We’re sitting just off the recent day’s high of 1.0648.
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Up from 48.4 in December and fractionally better than flash read of 50.9. European stocks seeing accelerated gains, DAX up 1.3%, CAC 40 up 1.5%. EUR/USD has extended rally to 1.3090.
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Up from 44.3 in December and better than Reuter’s median forecast of 45.0, highest read since September. EUR/USD up at 1.3073.  Getting reports sell orders now clustered 1.3085/95 and more up at 1.3110/20. Buy stops? I got nada, jack, bugger all Meanwhile,  French January final manufacturing PMI has come in at 48.5, unchanged from flash [...]
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Italy/German 10 year bond yield spread has narrowed to 398 bps from the 416 bps I jotted down first thing. Spain/German 10 year bond yield spread has narrowed to 309 bps from early 318 bps. France/German 10 year bond yield spread has narrowed to 121 bps from early 126 bps (I guess it’s OK to [...]
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UGHHHHHH!!! Some way lower than Reuter’s median forecast of 51.4.
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Down from +1.8%  in November.
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Cable at 1.5735 from session low 1.5708 (EBS), USD/CAD down at 1.0025 from session high 1.0048. I haven’t gotten reports, but if they’re selling dollars in those two pairings then they’re most probably selling them versus the euro as well. EUR/USD meanwhile has extended recovery a little further to 1.3063 at writing. Just another choppy day in paradise
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LONDON ((MNI) – The Bank Of England said Wednesday it was offering an unlimited supply of U.S. dollars in both 84-day and 7-day operations. The settlement date on the 7-day op was Feb 02 maturing Feb 9 2012. The Bank said the repo would be at a fixed-rate, with the rate to be set at [...]
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Up from 43.7 in December and above median forecast of 44.5. Thank heavens for small mercies.
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Portugal auctions 3 and 6 month paper this morning. Indicative amount 1.25-1.5 bln. Results soon after 10:30 GMT  (as far as I can make out)

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