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- Irish CB Chief: Ireland Likely To Get “Large” EU Loan – RTE
- Irish 5-year cds at 495 bps, down 30 bps on day
- Analysis: UK Public Borrowing Hits New Record High In Oct
- Germany’s Merkel: Euro is vital to German interests
- UK DATA: Oct PSNB Stg9.77bn vs Stg9.391bn in Oct 09;.
- UK DATA: Oct Retail Sales inc. fuel +0.5% m/m; -0.1%.
- UK October retail sales +0.5% m/m
- ECB Honohan: EU/IMF Talks to Result in Loan To Ireland: Press
- EMU DATA: The Eurozone current account fell to a…..
- Spain’s PM Zapatero: Highly probable to meet 2010 growth targets
- Irish govt minister: Expects 4 year fiscal plan to be published around middle of next week
- Russia buys cable
- Irish central bank governor: Purpose of IMF visit to provide reassurance to international markets
- France’s Lagarde says euro zone is not at risk of breaking up
- BIS sells EUR/USD
- China may hike rates by another 100 bps
- Cable resistance holds first test; notable seller seen
- Cable ticks higher in early European trade
- Ireland bailout: the likely options
- EUR/USD manages decent rally in Asia
| Irish CB Chief: Ireland Likely To Get “Large” EU Loan – RTE Posted: LONDON (MNI) - Ireland "will likely" receive a large loan from the European Union and the International Monetary Fund, Ireland's central bank governor said Thursday. Talking on RTE radio, Patrick Honohan said the loan would likely be large and designed ...    |
| Irish 5-year cds at 495 bps, down 30 bps on day Posted: Greek 5 year cds at 925 bps, down 19 bps on day Portuguese 5 year cds at 395 bps, down 14 bps on day Strong likelihood of Irish bailout improving sentiment in the peripheries today. Supporting EUR/USD as well, presently at 1.3640. Next batch of stops through 1.3660.  |
| Analysis: UK Public Borrowing Hits New Record High In Oct Posted: --Oct PSNB Stg9.77bn vs Stg9.391bn in Oct 09; median Stg9bn --Oct PSNB ex financial interventions Stg10.347bn; median Stg9bn --Oct PSNCR Stg2.431bn vs Stg6.688bn in Oct 09; median Stg7bn LONDON (MNI) - Public Sector Net Borrowing hit its highest level on record in October, exceeding forecasts ...  |
| Germany’s Merkel: Euro is vital to German interests Posted: Private sector must participate in restructuring of financial market architecture German govt "completely convinced" that creditors will be involved in future euro crisis menchanism from 2013 Exit strategies from stimulus measures should come fairly quickly, but in coordination with U.S. Domestic demand will play a stronger role in recovery in 2011  |
| UK DATA: Oct PSNB Stg9.77bn vs Stg9.391bn in Oct 09;. Posted: UK DATA: Oct PSNB Stg9.77bn vs Stg9.391bn in Oct 09; median Stg9bn --Oct PSNB ex financial interventions Stg10.347bn; median Stg9bn --Oct PSNCR Stg2.431bn vs Stg6.688bn in Oct 09; median Stg7bn ------------------------------------------------------------------------ Public Sector Net Borrowing ex financial sector interventions hit the highest level on record for an October, rising to Stg10.3bn ...  |
| UK DATA: Oct Retail Sales inc. fuel +0.5% m/m; -0.1%. Posted: UK DATA: Oct Retail Sales inc. fuel +0.5% m/m; -0.1% y/y --Oct retail sales ex fuel +0.3% m/m; +1.2% y/y ------------------------------------------------------------------------ Retail sales were up 0.5% m/m in Oct, a little above the median for a 0.4% rise, and down 0.1% y/y against expectations for flat. There was a down revision to Sep ...  |
| UK October retail sales +0.5% m/m Posted: Slightly better than median forecast of +0.4% ONS says rise in retail sales driven by fuel, non-store retailing. PSNCR 2.431 bln, lower than median forecast of 6.0 bln. PSNB on the otherhand 9.77 bln, slightly higher than median 9.0 bln.  |
| ECB Honohan: EU/IMF Talks to Result in Loan To Ireland: Press Posted: FRANKFURT (MNI) - Talks between the Irish government, International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission, to start in Dublin later today, are likely to result in a loan to Ireland, European Central Bank Governing Council member Patrick Honohan said ...  |
| EMU DATA: The Eurozone current account fell to a….. Posted: EMU DATA: The Eurozone current account fell to a seasonally-adjusted -E13.1 billion in September from -E6.9 billion, the European Central Bank reported on Thursday. -- EMU September direct+portfolio inflow E7.0bn; August inflow E0.5bn -- EMU September direct invest outflow E9.6bn; August outflow E11.1bn -- EMU September portfolio invest inflow E16.5bn; August inflow E11.5bn -- EMU September ...  |
| Spain’s PM Zapatero: Highly probable to meet 2010 growth targets Posted: Autonomous communities must also commit to reduce deficit Govt will send pension reform bill to congress in Q1 Spain will reduce number of state companies by year end Period of intense job destruction has passed Will take time to create jobs at the same pace as before  |
| Irish govt minister: Expects 4 year fiscal plan to be published around middle of next week Posted: Believes it will be shown that the Irish banks are solvent Govt needs to improve its communications May need help from international, European colleagues Important to get terms and conditions of any assistance right EUR/USD has seen acclerated gains. Seems as though breach of 1.3610 was significant (as mentioned in side comments) and we've rallied ...  |
| Posted: In recent trade. We're back up at 1.5930 in increasingly choppy trade. Still haven't got confirmation of stops above 1.5950, but I bet they're there. I do have confirmation of stops through 1.5980 though.  |
| Irish central bank governor: Purpose of IMF visit to provide reassurance to international markets Posted: IMF visit will want to provide reassurance to investors and depositers in the banks IMF provides loans not bailouts If it's agreed, IMF will give us a loan Believes an IMF loan will be made available and drawn down as necessary IMF/ECB/EU would not send teams if they didn't think they could agree a ...  |
| France’s Lagarde says euro zone is not at risk of breaking up Posted: Possible Britain could participate in aid for Ireland  |
| Posted: Not sure where they started (probably north of 1.3600) but it's ongoing and they've been seen selling in recent trade. We're presently down at 1.3580.  |
| China may hike rates by another 100 bps Posted: Not all in one go though ;) Interesting little video. Thanks to Chris for bringing it to our attention, thanks very much.  |
| Cable resistance holds first test; notable seller seen Posted: Well guess Jamie has something with his 1.5950 being significant resistance (what a clever old stick he is) Having been to 1.5947 we're back at 1.5930. US custodial is said to have been notable seller in recent trade. Maybe they've been reading the Maestro's comments.  |
| Cable ticks higher in early European trade Posted: Presently at 1.5940. Jamie yesterday was indentifying 1.5950 as important resistance. Guess there could well be buy stops just above there, although haven't gotten confirmation of such as yet. Some important data due today: 09:30 GMT: PSNCR for October expected 6.0 bln; PSNB expected 8.9 bln 09:30 GMT: Retail sales for October expected +0.2% ...  |
| Ireland bailout: the likely options Posted: The Telegraph  |
| EUR/USD manages decent rally in Asia Posted: EUR/USD up at 1.3595 from North American close down around 1.3525. Euro benefitting from expectations of early assistance (won't call it bail-out as its' pejorative according to the Irish PM) for Ireland and their banks, as EU and IMF teams arrive in Dublin for talks. General risk aversion has also waned, with the Shanghai ...  |
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