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- German Dec ZEW current conditions rises 5.7 from 5.4 in November (expected 5.0)
- Spanish auction results… Sold Eur3.89 bln of 12 and 18 mth bills
- So is the bird that can’t… about to fly?
- Today’s orderboard
- Italy’s Monti: His govt has made very great progress in short time in tackling economic crisis
- Japan’s LDP, partner on track for big election win: surveys
- Gold holding steady ahead of the FOMC
- Italy’s Berlusconi accuses Monti government of following a “German centric” policy which has taken Italy into recession
- UBS sent swift note to clients on deposit rate
- EUR/CHF ticks higher
- PBOC official says China has room for RRR adjustment: Caijing
- German wholesale prices fall -0.7% m/m in November
- AUD/USD remains wedged
- French Q3 non-farm payrolls -0.3% q/q, -0.4% y/y
- A Spanish own goal
- European stocks look set to open marginally firmer
- Nikkei 225 closes down 0.09%..
- Could be a long morning…
- Option expiries today
- Standard Chartered pays heavy penalty over sanctions
| German Dec ZEW current conditions rises 5.7 from 5.4 in November (expected 5.0) Posted: 11 Dec 2012 02:02 AM PST Economic sentiment up sharply to 6.9 from -15.7 (big improvement on poll -12) First move into a positive reading since May this year, with ZEW stating positiveUS economic data may have been a major contributor |
| Spanish auction results… Sold Eur3.89 bln of 12 and 18 mth bills Posted: 11 Dec 2012 01:46 AM PST Over and above the targeted max of Eur 3.5 bln, made up of … Eur 2.39 bln of 12 month bills , yield 2.556% from 2.797%, cover 2.46 from 2.12 last Eur 1.5 bln of 18 month bills, yield 2.778% frokm 3.034% cover 2.7 from 5.72 last |
| So is the bird that can’t… about to fly? Posted: 11 Dec 2012 01:40 AM PST Seems there’s a lot of eyes on the Kiwi as it nudged just through the Sept 26 highs of 0.8366 (today’s high 0.8368). Strong housing data and card transaction data along with the Fonterra payout increase has helped the cause, but probably more relevant has been comments from the RBNZ recently which pointed to NO near term rate cuts. There’s further resistance sitting up in the 0.8400/05 area (early March highs) followed by 0.8471 (Feb 29 high) NZD’s presently at 0.8365
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| Posted: 11 Dec 2012 12:47 AM PST EUR/USD: Bids, 1.2920/30, 1.2900/05 some sell stops on a break ahead of more bids 1.2870/80, ahead of tech supp/bids 1.2845/55 (1.2949-38.2% retracement of 1.2661-1.3127 rally) Offers 1.2970/80 and 1.3000/10, possible buy stops up through 1.3020 GBP/USD: Bids 1.6050/60, tech support 1.6015 (38.2% of 1.5828-1.6131 rally Nov-Dec rally) ahead of more bids 1.6000/10. Sell stops through 1.5985 ahead of tech support/bids 1.5945/55 (100 day MA 1.5955). Offers 1.6100/10 and 1.6120/30 (1.6124- 61.8% of Sep/Nov fall) buy stops above. EUR/GBP: Offers o.8050/60 and 0.8090/00 .Bids tech supp/options 0.8030/40 and 0.8015/25 (0.8026 cloud base) ahead of tech supp 0.7990/00 (100 day MA 0.7992) USD/JPY: Bids 82.20/30 small stops just below ahead of more bids 82.00/10 sell stops below through 82.00 and 81.85 but stronger bids 81.60/70, with more sell stops below through 81.50. Offers 82. from 82.40 layered up to 82.80(exporters) some buy stops through 82.80 ahead of large offers 82.90/00 (barrier 83.00) very large buy stops just above. EUR/JPY: Offers 106.90/00 (106.97 tenkan line) buy stops above through 107.10 ahead of offers 107.40/50 and large offers 107.80/00 ahead of barrier (108), buy stops above.. Bids 106.50/60, 106.20/30 and 106.00/20, sell stops below through 105.95 AUD/JPY: Bids 86.20/30 and 85.95/05 (86.03 tenkan line) possible sell stops just below ahead of bids 85.40/50, sell stops through 85.40. Offers /tech res 86.50/60 buy stops above ahead of tech res 86.70/75 (86.72/74 Friday high and Apr 2 high) AUD/USD: Bids 1.0450/60 (sovereigns, RM and exporters) sell stops below through 1.0440 ahead of more bids, 1.0400/10 (kijun line 1.0401, 100 day MA 1.0396, also cloud top 1.0387) ahead of large bids 1.0350/60 with more sell stops below. Offers 1.0500/10(importers), more ahead of barriers at 1.0525 and 1.0550. Buy stops above both ahead of larger tech res 1.0560/70 (13 Sept high 1.0569) EUR/AUD: Bids 1.2300/10, possible sell stops through 1.2290 ahead of tech support 1.2260/70 (100 day MA 1.2268). Offers 1.2360/70) ahead of tech res 1.2405/15 (1.2413- 200 day MA) |
| Italy’s Monti: His govt has made very great progress in short time in tackling economic crisis Posted: 11 Dec 2012 12:28 AM PST
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| Japan’s LDP, partner on track for big election win: surveys Posted: 11 Dec 2012 12:14 AM PST |
| Gold holding steady ahead of the FOMC Posted: 11 Dec 2012 12:06 AM PST Looks like the bullion bulls are looking for an early boost from the Fed this side of Xmas after the metal put on a bit of a spurt yesterday to $1718.80 and pulled away from the support of the 100 day MA around $1704.55. Recent dips have been contained ahead of the 200 day MA currently around $1662, with moves towards $1685 enticing bargain hunters and safe haven demand. As the Fed’s ‘Operation Twist’ expires at the year end , there are some corners hoping the Fed will extend the buying of longer term US treasuries and curb sales of the shorter term debt , which would be seen in some circles as further quantitative easing and kept the underlying bias positive for Gold. Initial resistance is now up at yesterday’s high and $1730, with support now at $1703 and $1686 Gold’s currently sitting around $1710 |
| Posted: 10 Dec 2012 11:59 PM PST Reuters reporting.
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| UBS sent swift note to clients on deposit rate Posted: 10 Dec 2012 11:31 PM PST Bloomberg reporting.
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| Posted: 10 Dec 2012 11:23 PM PST Amid talk the major Swiss bank will begin imposing negative interest rates on swiss franc balances starting tomorrow. EUR/CHF at 1.2100 from early 1.2080. Hardly a surprise, is it? |
| PBOC official says China has room for RRR adjustment: Caijing Posted: 10 Dec 2012 11:14 PM PST Bloomberg headline. Who wud have thunk it? |
| German wholesale prices fall -0.7% m/m in November Posted: 10 Dec 2012 11:01 PM PST +3.2% y/y, (from -0.6% and +4.6% y/y in Oct). |
| Posted: 10 Dec 2012 10:50 PM PST Really going nowhere at the moment, with weaker business confidence data shrugged off earlier and even recent rate cuts failing to turn the pair lower for the moment. Sovereigns, exporters and real money are lined up on bids in the 1.0450/60 (Tenkan line 1.0454) area with talk of some sell stops building down through 1.0440. Below here are bids again in the 1.0400/10 zone which includes the Kijun line at 1.0401, and the 100 day MA just below, at 1.0399 On the topside offers remain up at 1.0500/10 with some rumblings of possible RBA commercial interest as well at the level. Above there are more protecting offers in front of barriers at 1.0525 and 1.0550 with buy stops on breaks of both. AUD’s presently sitting at 1.0481
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| French Q3 non-farm payrolls -0.3% q/q, -0.4% y/y Posted: 10 Dec 2012 10:32 PM PST A market mover; I think not…… Two weeks till Christmas!!! |
| Posted: 10 Dec 2012 10:21 PM PST |
| European stocks look set to open marginally firmer Posted: 10 Dec 2012 10:15 PM PST Financial bookies see FTSE opening up around +0.1%, DAX up around +0.2% and CAC 40 up around +0.3%, |
| Nikkei 225 closes down 0.09%.. Posted: 10 Dec 2012 10:07 PM PST ….by 8.43 pts at 9525.32 (TOPIX closed down 2.97 at 785.51) |
| Posted: 10 Dec 2012 10:03 PM PST There’s a bit of data out starting at… 0700 GMT – German Nov wholesale Prices , exp +0.1% m/m and 4.0% y/y (from -0.6, and +4.6) 1000 GMT- German Dec ZEW current conditions exp 6.0 from 5.4, Economic sentiment exp -11.5 from -15.7 1000 GMT- EU Dec ZEW economic sentiment, exp +0.1 from -2.6 1000 GMT EU’s Barroso takes a Q&A session in Euronews’ ’ The Global conversation’ |
| Posted: 10 Dec 2012 09:53 PM PST For the 1000 NY/1500 GMT cut:
EUR/USD: 1.2800, 1.2850. 1.2900, 1.2950, 1.2965 USD/JPY: 82.20, 82.50 GBP/USD: 1.5990, 1.6150, 1.6200 EUR/GBP: 0.8095 AUD/USD: 1.0350, 1.0390, 1.0550, 1.0525 |
| Standard Chartered pays heavy penalty over sanctions Posted: 10 Dec 2012 09:37 PM PST The bank’s agreed to cough up $327 million to resolve allegations that it violated sanctions over Iran after the US justice department and NY DA’s office accused the bank of moving money through the US financial system on behalf of sanctioned countries such as Iran, Sudan, Libya and Burma Both agencies agreed to defer and drop the charges if the bank improved its sanctions compliance and paid $227 million. (UK Times) Obviously were into the ‘fining’ season ….as the news comes just as HSBC is also expected to agree to pay a whopping $1.9bln over its part in US money laundering probe by the Fed and other state authorities in connection with Iran and North Korea, including transfers from Mexican drug cartels through the US financial system. The amount comprises of around $1.25 bln in forfeiture and $655 mln in civil penalties. More.... Daily Mail |
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