Dec 21, 2011

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ECB Allots $33.004 Bln In 14-Day USD Liquidity Providing Op

Posted:

FRANKFURT (MNI) – The European Central Bank said Wednesday that it has allotted $33.0037 billion in its 14-day USD liquidity providing operation. The central bank said it received 34 bids. Today’s operation was carried out at a fixed rate of 0.57%. The Euro/USD rate was set at 1.3123. –Frankfurt Bureau tel.: +49-69-720 142, email: frankfurt@marketnews.com [...]

Italian banking Association (ABI): sees Italian 2011 GDP +0.6%, -0.7% in 2012 and +0.2% in 2013

Posted:

Sees 2011 deficit  at 3.8% of GDP , 2012 at 1.5% and 2013 at 0.1% Debt 121.3% of GDP in 2011, 120.8% in 2012 and 117.4% in 2013

BOE Agents: Services Hiring Plans Weakest Since Feb 2010

Posted:

LONDON (MNI) – Employment intentions in the dominant services sector have fallen to their lowest level since February last year, according to a Bank of England Agents’ report, adding to the gloom over the UK jobs outlook. The agents report showed the November score for total services employment intentions fell to -0.1 from 0.1 in [...]

BOE Minutes: MPC United Against Policy Fine Tuning

Posted:

LONDON (MNI) – Bank of England Monetary Policy Committee members voted unanimously at their December meeting to keep policy unchanged, united in the belief it was not worth fine tuning policy when uncertainty over the economic outlook was so high. The MPC voted nine to zero to continue with the current Stg275 billion of asset [...]

Analysis: UK Public Sector Borrowing Falls In November

Posted:

–Nov PSNB-X Stg18.093bn vs Stg20.36bn in Nov 2010 LONDON (MNI) – Public Sector Net Borrowing fell by more than expected in November, although upward revisions to borrowing in earlier months, takes the shine a little off the latest figures. Overall, the data leave the public finances broadly on the path forecast by the Office for [...]

UK DATA: Nov PSNB-X Stg18.093bn vs Stg20.36bn in Nov.

Posted:

UK DATA: Nov PSNB-X Stg18.093bn vs Stg20.36bn in Nov 2010 ———————————————————————— PSNB-X fell to Stg18.093 billion in November from Stg20.36 billion in the same month a year earlier, a little better than the median forecast for a slightly higher deficit of Stg19.7 billion. There was though a Stg1.9bn up revision to Apr-Oct, although this leaves [...]

UK Nov 2011 PSNB £15.231 bln vs £18.4bln in Nov 2010

Posted:

Better than Reuters forecast of £17 bln  

BOE minutes: Voted 9-0 to keep rates/ QE unchanged in December

Posted:

Some MPC members thought more QE might well become warranted in due course with some saying outlook had worsened Others saw inflation risks more balanced mid-term, risk that inflation may fall slower than projected Overall MPC saw little change of risk balance for UK growth, inflation, sees some recovery in H2 2012  All agreed that [...]

Germany To Lower Gross Sovereign Issuance In 2012 Vs 2011

Posted:

FRANKFURT (MNI) – Germany will issue E250 billion in gross nominal bonds and bills in 2012, the Federal Finance Agency announced Wednesday. The figure is E25 billion lower than the E275 billion in nominal bonds the country sold this year, reflecting E11 billion less in capital market instruments and E14 billion less in money market [...]

AUD/USD backs off after a stellar run up this morning….

Posted:

We got up just past the 100 day MA at 1.0212 with a high of 1.0213. there’s some tech resistance at the Dec 9 highs of 1.0226 above there, but some profit taking on the run down in EUR/AUD has seen a bounce in the cross from 1.2864 (new lows vs the EUR) to 1.2910 and [...]

ITALY DATA: 3Q final GDP fell 0.2% q/q grew 0.2%…..

Posted:

ITALY DATA: 3Q final GDP fell 0.2% q/q grew 0.2% y/y, after gaining 0.3% q/q in the 2Q 2011, as a drop in domestic demand was only partly offset by a growth in exports, ISTAT said. –Net exports contributed 0.8 points to q/q growth, while government and private consumption subtracted 0.1 each to GDP growth. [...]

Buy stops noted in EUR/JPY

Posted:

Through 102.50. We’re at 102.25 presently.

Can they both be right?

Posted:

Recent reports have had  Middle Eastern sovereign buying in EUR/USD,  while an Asian central bank has been selling cable above 1.5740. Can they both be right? Only if  EUR/GBP has a little sojourn higher

EUR/JPY scuttlebutt

Posted:

Talk large US name has bought chunky 3-month EUR/JPY calls with 105 strike. Rumour has it for upwards half a yard of euros. The cross sits presently at 102.20.

BIS sells EUR/USD

Posted:

Up around 1.3145.  We’re presently at 1.3138. They were reported selling down at 1.3040/45 yesterday, so what do they know?   ;) UPDATE:  Middle East bought into slight BIS-induced dip.  We sit at 1.3142.

Unicredit CEO: Sees strong demand from European banks for ECB loans on Wednesday

Posted:

ECB liquidity injection should support economy, avoid credit crunch Deposits in Italy stable, does not see lack of trust from customers EUR/USD edges up  to 1.3140.  

MPC Broadbent: Public Not Lost Faith In BOE Over Inflation

Posted:

LONDON (MNI) – The public has not lost faith in the Bank of England’s inflation targeting, despite the long run of above target outturns, Monetary Policy Committee member Ben Broadbent said in an interview published in the Independent. Broadbent also saw some encouraging signs for the UK amidst the gloom of the Eurozone crisis. He [...]

BOJ’s Shirakawa: Strains in financial markets remain high

Posted:

Basic mechanism of Japan economy returning to recovery remains unchanged European debt crisis affecting Japan economy through trade path Concerns of financial backdrops against European debt crisis not completely erased European debt crsis could have significant impact on global economy if solution delayed Need to boost growth to improve Japan’s fiscal condition Need to reconstruct [...]

Japan rating firm JCR: retains Japan’s Aaa rating with stable outlook

Posted:

Closely watching Japan’s social security, tax reforms

Remember this……..

Posted:

Doing OK so far. With the above in mind, it comes as no surprise to me at all to be hearing reports of sell orders clustered up at 1.3180/00. Ahead of that sell orders clustered 1.3140/50, buy  stops just above. We sit at 1.3120.
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