Dec 13, 2011

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Update: ZEW: Investors Less Pessimistic On Germany’s Outlook

Posted:

–Adds Comments From ZEW Expert, Details From Survey Germany Expectations Current Conditions ————————————————————- December -53.8 +26.8 MNI survey median: -57.0 +32.0 MNI survey range: -62.0 to -50.0 +25.0 to +37.5 November -55.2 +34.2 – FRANKFURT (MNI) – Investors’ expectations for the German economy in the coming six months unexpectedly improved in December, while perceptions of [...]

EU Barroso: Summit Deal Not Enough Need to Boost Growth, Jobs

Posted:

STRASBOURG (MNI) – The new fiscal rules adopted by EU leaders last week will not be enough in and of themselves to bring Europe out of the crisis, because more measures to boost growth and employment are also needed, European Commission President Jose Manuel Barroso said on Tuesday. “The problems in the euro area are [...]

ECB Allots E41.15 Bln In 35-Day Refis At Fixed Rate Of 1.0%

Posted:

FRANKFURT (MNI) – The European Central Bank Tuesday allotted E41.1503 billion in 35-day refinancing agreements (refis) at a fixed rate of 1.0% in an effort to improve the overall liquidity position of the euro area banking system. The operation, which had no pre-set amount, attracted 42 bidders. The refis will settle tomorrow and will expire [...]

ECB Allots E291.629 Bln In 7-Day Funds At Fixed Rate Of 1.0%

Posted:

FRANKFURT (MNI) – The European Central Bank on Tuesday allotted E291.6293 billion in its main seven-day refinancing operation at a fixed rate of 1.0%. The ECB satisfied all of the 197 bids received. Today’s operation resulted in a net addition of E39.529 billion after the ECB allotted E252.1003 billion in its 7-day MRO last week. [...]

Update 2: BOE Dale: Surveys Show UK Recovery At Standstill

Posted:

–Sees Growth Weak Through H1 2012; Scope To Boost QE Purchases –Sees Still Scope To Bring Down Yields At Long End –Sees Inflation Falling Sharply Between Now And March –Risk Inflation Persistence Esp. If Euro Crisis Doesn’t Escalate –Sees Credibility Could Pose Potential Constraint On QE –Sees Tightening Credit Conditions Unless Funding Strains Ease Quickly [...]

ZEW: Investors Less Pessimistic On Germany For Medium Term

Posted:

Germany Expectations Current Conditions ————————————————————- December -53.8 +26.8 MNI survey median: -57.0 +32.0 MNI survey range: -62.0 to -50.0 +25.0 to +37.5 November -55.2 +34.2 – FRANKFURT (MNI) – Investors’ expectations for the German economy in the coming six months unexpectedly improved in December, while perceptions of current developments remained on a downward trend, the [...]

ZEW economist: Very low interest rates, flight to safety are helping especially the German construction sector

Posted:

Do not expect technical recession, but one bad quarter in Germany in the first quarter 2012 Probability of technical recession with 2 consecutive quarters of negative growth has decreased Sees signs of fears of high inflation in long-term Private spending expected to stay at current level for next 6 months, sees that as good sign [...]

Greek auction results

Posted:

Greece sells Euros 1.625 bln 6 mth T bills  including  euro 375 mln in  non-competitive bids. Yield was 4.95% agst previous 4.89%, bid to cover 2.93 (agst 2.91)

Spanish auction results.

Posted:

Spain sold Euros 3.44 bln 12 month T bills at 4.050%, Bid to cover 3.1 Sold Euro 1.5 bln of 18 month T bills at 4.226%, bid to cover 5.0

German Dec ZEW economic expectations index -53.8 (expected -55.8 prev -55.2)

Posted:

Current conditions index 26.8 against 34.2 in Nov (exp 31.0) ZEW:  uncertainty due to EU debt crisis already reflected by negative balances of ZEW indicator Situation in Germany set to weaken over next half year German economic sentiment appears to have bottomed out, activity to slow but not plunge in next 6 months EU summit [...]

CLG: UK Oct House Prices Down 0.4% Y/Y; Up 0.6% M/M

Posted:

LONDON (MNI) – UK house prices were 0.4% lower in October from the same month a year ago but 0.6% up on September, Communities and Local Government said today. The data release follows the RICS survey of surveyors’ price expectations overnight, which showed house price falls easing over the past month. –London newsroom: 4420 7862 [...]

Update: BOE Dale: Surveys Show UK Recovery At Standstill

Posted:

–Sees Growth Weak Through H1 2012; Scope To Boost QE Purchases –Sees Still Scope To Bring Down Yields At Long End –Sees Inflation Falling Sharply Between Now And March –Risk Inflation Persistence Esp. If Euro Crisis Doesn’t Escalate –Sees Credibility Could Pose Potential Constraint On QE LONDON (MNI) – Business surveys suggest that the UK [...]

UK Analysis: Nov CPI Driven Down By Food, Discounting

Posted:

LONDON (MNI) – Mild weather, the lower cost of petrol and much softer food prices, along with continuing discounting by supermarkets, all contributed to drive inflation down in November. Headline CPI fell in line with analysts’ expectations to 4.8% on the year in November from 5.0% in October. The biggest single downward effect came from [...]

ECB’s Coeure: If needed, ECB may have to boost bond purchases

Posted:

Must act without political interference.

Just been told….

Posted:

ECB still in buying Italian bonds. Bit more aggressively than earlier apparently. I have this vision of a  rowing boat slowly sinking and this bloke with a red bucket furiously trying to scoop the water out….

UK November CPI +0.2 %m/m, + 4.8 % y/y

Posted:

November RPI  + 0.2 % m/m, + 5.2  % y/y,       RPIX  +0.2 %m/m  + 5.3% y/y   Cable’ done nothing of note on that  as numbers come in largely on expectations sitting around 1.5575/80

BOE Dale: Business Surveys Show UK Recovery Stalled In Q4

Posted:

–Sees Growth Weak Through H1 2012; Scope To Boost QE Purchases –Sees Still Scope To Bring Down Yields At Long End LONDON (MNI) – Business surveys suggest that the UK recovery likely stalled in the final quarter of this year, Bank of England Chief Economist Spencer Dale has said. In a speech here, Dale said [...]

BOE’s Dale: Certainly scope if needed for BOE to increase QE, long-dated yields still have scope to fall

Posted:

Cable hovering around session low, presently 1.5570. Inflation to fall sharply in 2012, will be at low 3% level by March Behaviour of CPI from Spring 2012 onwards more uncertain, more important for future monetary policy Much of UK’s weak 2011 growth can be blamed on unavoidable fall in real living standards due to high [...]

Up next: UK inflation data… at 0930 GMT

Posted:

morning all.. UK  November CPI expected +0.2% m/m,+ 4.8% y/y (prev +0.1% m/m , +5.0% y/y) RPI exp +0.3% m/m, +5.2% y/y (prev flat m/m, +5.4% y/y) RPIX exp +0.3% m/m, +5.4% y/y (prev flat m/m,  +5.6% y/y)

ECB seen buying Italian bonds in secondary market – Traders

Posted:

Reuters reporting. Amazin EUR/USD 1.3175.  Important support remains 1.3145.
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