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German Conservative lawmaker Hasselfeldt: There is no legal possibility for future new debt haicut for Greece
OECD GDP 2013 forecasts
Schaeuble calls press conference for 11:45 GMT
Lawmaker: German parliamentary vote on Greece planned for Thursday
UK Q3 GDP unrevised +1.0% q/q, revised to -0.1% y/y from previous flat
Greek Syriza leader Tsipras: Eurogroup decision not viable
More from Fisher : Favours setting QE limits as soon as the next Fed meeting
Fitch: European investor sentiment buoyed by ECB actions
Option expiries (updated)
Fed’s Fisher: Fed must soon decide when to end accomodative policy
PIMCO’s Amey: Sees good chance UK will lose AAA rating
German FinMin Schaeuble points to further writedown of Greek debt from 2016
Japan ruling DPJ party election platform: Pledges measures to combat yen strength
EUR/USD poll-time
French November consumer sentiment index 84.0
Commerzbank head of rates strategy: Commerzbank ends trade recommendation to buy Greek bonds
UBS swiss consumption indicator 1.31
German Oct import prices -0.6% m/m, +1.5% y/y
Today’s orderboard
CDU budget spokesman Barthle: German Bundestag likely to approve Greek aid package

German Conservative lawmaker Hasselfeldt: There is no legal possibility for future new debt haicut for Greece

Posted: 27 Nov 2012 02:13 AM PST

Guess you’re gonna have to change the law then……..

OECD GDP 2013 forecasts

Posted: 27 Nov 2012 02:10 AM PST

Lowers World GDP to 3.4% from 4.2% in May
Cuts US to 2.0% from 2.6%
Trims OECD area to 1.4% from 2.2%
Cuts Eurozone to -0.1% from +0.9%
Cuts Germany to 0.6% from 2.0%
Cuts France to 0.3% from 1.3%
Cuts China to 8.5% from 9.3%
Cuts Japan to 0.7% from 1.5%

OECD sees Eurozone crisis still the biggest threat to world economic outlook, and calls on ECB to cuts rates by 0.25%.

BOJ should increase QE until inflation firms to +1%, Japan’s economy’s strong enough to implement a sales tax hike in 2013. Spending cuts, revenue increases are vital to sustain confidence in Japan’s public finances

(Reuters)

Schaeuble calls press conference for 11:45 GMT

Posted: 27 Nov 2012 02:01 AM PST

To talk about Eurogroup Greek decision.

Personally I can’t wait…..

Lawmaker: German parliamentary vote on Greece planned for Thursday

Posted: 27 Nov 2012 01:48 AM PST

UK Q3 GDP unrevised +1.0% q/q, revised to -0.1% y/y from previous flat

Posted: 27 Nov 2012 01:33 AM PST

Cable very steady so far today, spookily so.

Cable buy orders seen clustered 1.6000/10, sell stops below. Sell orders clustered 1.6040/50, buy stops above. Nice and neat…..

Greek Syriza leader Tsipras: Eurogroup decision not viable

Posted: 27 Nov 2012 01:32 AM PST

Only solution is political change ( with him as leader no doubt)

Comments made on state-run Net TV

Posted: 27 Nov 2012 01:27 AM PST

Fed doesn’t need to do anymore
No such thing as QE infinity
Was not in favour of ‘operation twist’ from the outset
Hurricane Sandy will have a negative impact on Q4 growth, impact will however be offset in following quarters

More comments from Berlin, but he said he wasn’t speaking on behalf of the Fed

Fitch: European investor sentiment buoyed by ECB actions

Posted: 27 Nov 2012 01:13 AM PST

M&A opportunities likely to benefit healthier Spanish banks

Bloomberg headlines

Option expiries (updated)

Posted: 27 Nov 2012 12:49 AM PST

For the 27 Nov 2012 @ 1000 NY/1500 GMT cut:

EUR/USD: 1.2900, 1.2970, 1.3000, 1.3050

USD/JPY: 81.00, 82.00 (L), 82.25(L), 82.50

AUD/USD: 1.0385, 1.0400 (L), 1.0450 (L), 1.0480, 1.0500

AUD/JPY: 85.85

NZD/USD: 0.8160

EUR/SEK: 8.4500

Fed’s Fisher: Fed must soon decide when to end accomodative policy

Posted: 27 Nov 2012 12:36 AM PST

Fast approaching point to define limits of monetary policy
Biggest problem in US is unemployment
Inflation under control in the US
Fed could sell securities when time is right
Size of Fed asset purchases is “abnormal”
The real question is how Fed gets out of corner it has got into regarding asset purchases

Fisher’s hawkish monetary comments have given the greenback a marginal lift.

EUR/USD has been down to test aforementioned buy orders at 1.2965/70 which have held on the first examination. From session low 1.2966 we’ve back up at 1.2975. Asian sovereign selling notable in this latest leg lower in EUR/USD.

Interestingly the US fixed income market hasn’t reacted to the Fisher comments. Indeed the benchmark 10 year treasury yield is at 1.6677%, LOWER than the 1.6745% which greeted me.

PIMCO’s Amey: Sees good chance UK will lose AAA rating

Posted: 27 Nov 2012 12:18 AM PST

UK downgrade wouldn’t be a big surprise
UK inflation is ‘pretty sticky’
UK will probably do more QE
Carney will probasbly find strong pound unwelcome
Prefers US treasuries to UK gilts

Comments made in Bloomberg TV interview

German FinMin Schaeuble points to further writedown of Greek debt from 2016

Posted: 27 Nov 2012 12:15 AM PST

“When Greece has achieved, or is about to achieve, a primary surplus and fulfilled all of its conditions, we will, if need be, consider further measures for the reduction of the total debt," he told reporters.

Greece is expected to produce a primary budget surplus of around 4.5% of GDP in 2016.

Comments made after the end of the Eurogroup meeting which finished earlier today

More... ekathimerini

Japan ruling DPJ party election platform: Pledges measures to combat yen strength

Posted: 27 Nov 2012 12:05 AM PST

Will aim to end deflation by fiscal year 2014
Will make maximum efforts with BOJ to end deflation
Pledges decisive measures against excessive yen moves
Pledges to do all it can to eliminate atomic power by 2030s
Vows to defend national interests with ‘cool-headed, practical’ diplomacy

EUR/USD poll-time

Posted: 26 Nov 2012 11:47 PM PST

With 1.3000 done, it’s time for another poll

We’re at 1.2995.

What will we see first 1.2900 or 1.3100.

Reason/s for choice appreciated, but not obligatory.

French November consumer sentiment index 84.0

Posted: 26 Nov 2012 11:46 PM PST

Unchanged from October , …market was looking for a reading of 83.0

Commerzbank head of rates strategy: Commerzbank ends trade recommendation to buy Greek bonds

Posted: 26 Nov 2012 11:21 PM PST

Greek buyback rally should have run its course
Sees investors keen to cut Greek bond exposure
Greek buyback may include swap for EFSF debt

Bloomberg reporting.

UBS swiss consumption indicator 1.31

Posted: 26 Nov 2012 11:03 PM PST

Nice increase from the 1.04 seen in September.

German Oct import prices -0.6% m/m, +1.5% y/y

Posted: 26 Nov 2012 11:02 PM PST

From -0.7%m/m and +1.8% y/y in September, below Reuters consensus of -0.3%m/m, +1.8% y/y

Today’s orderboard

Posted: 26 Nov 2012 10:54 PM PST

EUR/USD: Bids 1.2965/70, 1.2940/50, sell stop below ahead of bids 1.2900/20, (1.2901- 50% Oct 17- Nov 13 fall, 1.2915- 55 day MA), sell stops below. Offers from 1.3010/25, (31/25 Oct highs).buy stops on a break above ahead of further offers 1.3040/50

GBP/USD: Bids 1.6000/10 (kijun line 1.6002) sell stops below, more bids 1.5970/80 (daily cloud base 1.5973) and 1.5920/30. Offers 1.6040/50, likely buy stops above ahead of offers 1.6070/80 (cloud top 1.6079), and 1.6200/20 (Oct 5 high 1.6117).

EUR/GBP: Strong offers 0.8100/10, buy stops above through 0.8115 ahead of larger offers 0.8145/60 with likely large buy stops above 0.8165. Bids /tech supp/options at 0.8065/75 (200 day MA 0.8071), more bids 0.8040/50 and 0.8000/10, sell stops below.

USD/JPY: Bids 81.90/10 sell stops below through 81.85 ahead of more bids 81.50/70, sell stops below. Offers 82.40/50, buy stops above ahead of offers 82.75/85 from exporters / option protection and larger ahead of 83.00 barrier, large buy stops just above.

EUR/JPY: Offers up at 107.00/15 107.13 Mon high) buy stops above through 107.15 ahead of offers 107.40/50 (107.48 April 27 high). Bids 106.50/60 and 106.00/10 with sell stops just below,

AUD/JPY: Bids 85.90/00 and 85.40/60, likely sell stops through 85.35 (85.36 Fri low) and tech supp 85.10/20, sell stops below through 85.00. Offers/tech res 86.40/50 (Mon high 86.44 and Apr 2 high 86.50), likely buy stops above. Ahead of tech res 86.70/75 ( 80.74 Apr 2 high)

AUD/USD: Bids 1.0450/60 possible sell stops through 1.0440 ahead of more bids 1.0400/10. Sell stops through 1.0400, tech supp/bids 1.0375/85 (100 day MA 1.0381), Offers 1.0480/00, likely large buy stops above ahead of offers/tech res 1.0510/20 (Sep 21 high 1.5019) and trend channel resistance 1.0445/50.

EUR/AUD: Bids 1.2380/90 and 1.2360/70 and larger down at 1.2290/10. Offers 1.2400/20 buy stops above (kijun line 1.2412, 200 day MA at 1.2413, 31.8% fibo of Oct-Nov fall around 1.2406) ahead of offers 1.2490/00 (50% fibo of same fall around 1.2492)

NZD/USD: Bids 0.8190/10 (cloud top 0.8197, 55 day MA 0.8209, sell stops below ahead of bids 0.8160/70. Strong offers 0.8240/50 (Fri high 0.8250) and 0.8290/0.8310 (Nov 7 high 0.8309)