Your forexlive.com ENewsletter

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• Greek October retail sales -10.8% y/y
• BOE: UK Q3 Housing Equity Injection Smallest For A Year
• Rail-freight surge before Christmas shows U.S. economy skirting recession
• What’s left on the orderboards…
• Spain October current account surplus 0.46 bln
• Italy November PPI +0.1% m/m, +4.2% y/y
• Spain’s December flash EU-harmonised CPI 2.3% y/y
• Key MEPs question crucial parts of European treaty text
• UK Nationwide: House Prices Dip In Dec; End 2011 Up 1.0%
• UK house prices -0.2% m/m, +1.0% y/y in December – Nationwide
• Ireland has done what the IMF wanted, but where is the reward?
• European stocks set to open very marginally firmer
• Europe’s leaders may need history lesson
• German Finance Minister Schaeuble: Says will have risk of contagion under control in euro zone crisis in next 12 months – Handelsblatt interview
• Ideas Corner/December 30th
• Happy New Year to all ForexLive readers
• ForexLive Asian market wrap: China fixes Yuan at new record high
• 2012 predictions
• Germany’s economic fate in 2012 depends on EUR
• EUR/JPY targeting 100.00 again

Greek October retail sales -10.8% y/y Posted: After -6.5% decline in September.  Oh-eh missus

BOE: UK Q3 Housing Equity Injection Smallest For A Year Posted: LONDON (MNI) – The pace of UK housing equity injection slowed in the third quarter, dropping from record high levels in the second quarter to hit its lowest level since Q3 2010. In the third quarter UK homeowners injected Stg8.561 billion into their homes, down from Stg9.628 billion in the second quarter. Homeowners have been [...]

Rail-freight surge before Christmas shows U.S. economy skirting recession Posted: Hooooooooray!!

What’s left on the orderboards… Posted: EUR/USD: Bids 1.2900/10 ahead of tech support  1.2855/60 (1.2858 yesterday’s low)  and a barrier at 1.2850.  Tech resistance 1.2965/70 (Asian high 1.2968) and 50% Fibo retracement at  1.2969 ( of 1.3080-1.2858) EUR/JPY:  Buy stops up through 100.75/80. Sell orders above at 101.10/20. Downside bids lie ahead of the major barrier at 100.00 with large stops [...]

Spain October current account surplus 0.46 bln Posted: From 3.61 bln deficit in September. Hooooooooooooooooray!!!!

Italy November PPI +0.1% m/m, +4.2% y/y Posted: Pretty much as expected.

Spain’s December flash EU-harmonised CPI 2.3% y/y Posted: Down from +2.9% in November and weaker than Reuters’ median forecast of +2.5%. Elsewhere European stocks have opened marginally firmer. DAX up +0.3%, CAC 40 up +0.4%. EUR/USD unchanged since I sat down, presently at 1.2940.

Key MEPs question crucial parts of European treaty text Posted: Irish Times article.

UK Nationwide: House Prices Dip In Dec; End 2011 Up 1.0% Posted: LONDON (MNI) – UK house prices dipped in December, ending 2011 up 1.0% on a year earlier, and the housing market looks set for another year of weak activity in 2012, according to the Nationwide. The last Nationwide survey of 2011 found house prices down 0.2% on the month in December and up 1.0% on [...]

UK house prices -0.2% m/m, +1.0% y/y in December – Nationwide Posted: Weaker than Reuters’ median forecasts of +0.1%, +1.5% respectively. Nationwide’s chief economist Robert Gardner opines “The housing market in 2012 looks likely to be characterised by low levels of activity once again, with prices moving sideways or modestly lower over the course of the year.”

Ireland has done what the IMF wanted, but where is the reward? Posted: Despite ‘exceptional’ efforts to meet IMF targets, Ireland has a rising deficit, sustained emigration and 15% unemployment.

European stocks set to open very marginally firmer Posted: Financial bookies see FTSE and DAX opening up around +0.1% firmer, CAC 40 up around +0.3%.

Europe’s leaders may need history lesson Posted: Stephen Fidler in The WSJ.

German Finance Minister Schaeuble: Says will have risk of contagion under control in euro zone crisis in next 12 months – Handelsblatt interview Posted: Reuters reporting. Rules out euro zone break-up for now Sees no indication of a credit crunch Reiterates ESM rescue mechanism implementation to be completed in Q1 2012, ESM to be active mid-2012

Ideas Corner/December 30th Posted: If you’ve got any ideas you’d like to share with your fellow readers, here’s where to stick ‘em.

Happy New Year to all ForexLive readers Posted: I didn’t manage to get on that elusive ‘retirement trade’ this year, but there’s always next year! Many thanks to all who participate in ForexLive, making it such a pleasant place to come everyday. I wish you all a happy, healthy and prosperous 2012. See you on Tuesday

ForexLive Asian market wrap: China fixes Yuan at new record high Posted: PBOC fixes USD/CNY at 6.3009, in obvious attempt to gain political points by having Yuan end the year 4.5% higher HSBC China manufacturing PMI for December 48.7 Australian November private sector credit +0.3% MoM George Soros predicts Gold at beginning of bear trend South Korean December CPI +4.2% YoY Regional stockmarkets +0.25% on average 2011 [...]

2012 predictions Posted: It’s that time of year again, when we can all make fools of ourselves by making predictions that don’t even come close to coming true. These are my two calls for 2012: AUD/USD will continue to range trade with a bearish hint for the first half of 2012. It will bottom out just above .90 [...]

Germany’s economic fate in 2012 depends on EUR Posted: An opinion piece from Reuters Breakingviews on the prospects for the German economy in 2012, and the importance of what happens to the EUR; total or partial break-up, or no change at all.

EUR/JPY targeting 100.00 again Posted: EUR/JPY is back below 100.40 and those stops below 100.00 must be looking enticing. Reuters reported earlier that the stops below 100.00 weren’t particularly big, but my information suggests that they are still quite large.

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