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EUR/USD edges marginally higher
EU commission: Spain should rein in pension-cost growth
Barrier alert!!, barrier alert!!
Spanish auction results
UK November producer output prices -0.2% m/m, +2.2% y/y
UK November CPI +0.2% m/m, + 2.7% y/y
Spanish bad loans 11.23% in October – Bank of Spain
Cable steady ahead of UK CPI…
Swedish central bank cuts repo rate 25 bps to 1.0%
Morgan Stanley hit with a $5 million fine over Facebook IPO…
Spain goes to the well……
How to trade ‘Doomsday’
Why the fight against corruption in China may finally be for real
European stocks seen opening firmer
Today’s orderboard
What a difference a day made, twenty-four little hours……
Today’s option expiries
Abe shift on BOJ shows Volcker moment may loom in Japan: Economy
Japan’s Nikkei 225 closes up 0.96%
Japan’s Shinzo Abe prepares to print money for the whole world

EUR/USD edges marginally higher

Posted: 18 Dec 2012 02:05 AM PST

Yer 6 pips from my last report, presently at 1.3178.

BIS said to have been seen buying in low 1.3170s.

EU commission: Spain should rein in pension-cost growth

Posted: 18 Dec 2012 02:04 AM PST

Short-term, fiscal- stress risks have eased in most EU states, but Spain and Cyprus have the greatest short-term fiscal risks
Italy’s main challenge is reducing its debt load
Germany and Holland are key to cutting current account imbalances.

Barrier alert!!, barrier alert!!

Posted: 18 Dec 2012 01:45 AM PST

Talk of barrier option interest lined up in cable at 1.6250.

We’re at 1.6222. Not a million miles away…….

Spanish auction results

Posted: 18 Dec 2012 01:45 AM PST

Sold a total of Eur 3.53 bln euro’s of 3/6 month Letra bills, just above the targeted Eur 3.5 bln

Eur 1.58 bln of 3 mth bills , yield 1.195% (from 1.254%), cover 2.92 (from 3.52)

Eur 1.95bln of 6 mth bills, yield 1.609% (from 1.669%), cover 2.57(from 2.30)

Imprived yields and above targeted take up for the final t-bill sale of 2012

UK November producer output prices -0.2% m/m, +2.2% y/y

Posted: 18 Dec 2012 01:34 AM PST

Weaker than median forecasts of +0.2%, +2.5% respectively.

UK November CPI +0.2% m/m, + 2.7% y/y

Posted: 18 Dec 2012 01:31 AM PST

Slightly above analysts expectations of 2.6% y/y

From 0.5% m/m and 2.7% y/y in October

Cable’s static around 1.6220 zzzzzzzzz

Spanish bad loans 11.23% in October – Bank of Spain

Posted: 18 Dec 2012 01:06 AM PST

Up from 10.7% in September. Bummer…….

EUR/USD sits at 1.3172, exactly where it was when I arrived having recovered from a very shallow dip. GET ME OUTTA HERE, I CAN’T TAKE IT ANYMORE!!

Cable steady ahead of UK CPI…

Posted: 18 Dec 2012 01:05 AM PST

Analysts are looking 2.6% y/y for the November reading after 2.6% in October.

Cable’s holding just above 1.6200 with bids down in the low 1.6190′s shoring up the pair. Technical resistance towards the Oct 1 highs of 1.6218 is currently stalling a further rise, with talk of buy stops now through 1.6220 ahead of more offers towards 1.6250 ahead of tech resistance again up at 1.6270/75 (1.6273 Sept 28 high).

Not so sure were going to get too much interest from the CPI and PPI out in 25 mins , but an upwards surprise might finally spark some momentum into an otherwise painfully dull morning.

Now a break through 1.6310 (Sept 21 highs) would be a different story, but i’m not that optimistic.

GBP’s trading around 1.6218

Swedish central bank cuts repo rate 25 bps to 1.0%

Posted: 18 Dec 2012 12:35 AM PST

Morgan Stanley hit with a $5 million fine over Facebook IPO…

Posted: 17 Dec 2012 11:41 PM PST

… by regulators after a witchhunt by Commonwealth of Massachusetts’s secretary William Galvin.

Morgan Stanley along with other Wall Street banks underwriting the deal, allegedly shared their growth forecasts for the social network company with certain, but not all, investors.

MS have agreed to pay the fine without any admission of guilt. ( They did receive up to $68 million in fees for their share of the offering, so guess it’s not hurting too much!)

More... Forbes

Spain goes to the well……

Posted: 17 Dec 2012 11:33 PM PST

One last time (last t-bill sales of year)

Re-opens 3 and 6 month letra for target 3.5 billion euros

Results due around 09:40 GMT

Greece meanwhile issuing 13 week t-bill for 1.0 billion euros.

How to trade ‘Doomsday’

Posted: 17 Dec 2012 11:13 PM PST

OK, so I’m getting desperate………

Friday’s triple-witching day on Wall Street……………………and the end of the world

Why the fight against corruption in China may finally be for real

Posted: 17 Dec 2012 11:02 PM PST

After the end of last month’s 18^th National Congress of the Communist Party of China, China seems to have witnessed a nationwide wave of corruption investigations against the rich and powerful. First several high-ranking officials from Canton were dismissed from their posts. Then it was the turn of Li Chungcheng, the Deputy Party Secretary of Sichuan Province, who had just been elected as an alternate member of Party’s Central Committee to be put under investigation. Two other cases soon folllowed.

This succession of cases has dazzled the public, astonished officialdom and aroused attention from abroad. Public opinion generally sees this as an indication that the spirit of the 18^th Congress is taking hold. Individual authorities are following up on the instructions and requirements for anti-corruption work laid down by Xi Jinping, the newly elected General Secretary of the Communist Party.

For the full story from ‘Worldcrunch’

European stocks seen opening firmer

Posted: 17 Dec 2012 10:42 PM PST

Financial bookies see FTSE and DAX opening up as much as +0.3%, CAC 40 up as much as +0.5%.

Today’s orderboard

Posted: 17 Dec 2012 10:41 PM PST

EUR/USD: Sells stops through 1.3140 ahead of bids 1.3115/25. Offers 1.3190 through to barrier 1.3200, buy stops just above through 1.3205.

GBP/USD: Bids 1.6190/00, 1.6160/70, sell stops below ahead of bids 1.6100/10 (sovereigns, real money, tenkan line 1.6108). Offers/ tech res 1.6215/20 (Oct 1 high 1.6218), possible buy stops just above ahead of tech res 1.6270/75 (1.6273 Sept 28 high) and large offers 1.6300/10

EUR/GBP: Offers 0.8150/60 with likely large buy stops above 0.8165 (Oct 22 high). Bids 0.8115/25 and 0.8090/00, possible sell stops through 0.8090.

USD/JPY: Bids 83.50/70, sell stops below ahead of more bids 85.30/40. Offers from 84.10/20 and 84.40/50 (84.50 barrier) buy stops above ahead of tech res offers 84.90/00 (85.00 barrier) ahead of major tech res 85.45/55 (Apr 6 2011 high 85.53)

EUR/JPY: Bids 110.00/10, and 109.40/50. Offers 110.70/80 and 111.10/20 ahead of major tech res 111.40/45 (March 23 high 111.43)

AUD/JPY: Bids/tech supp 88.00/10 and 87.80/90, offers/tech res 88.60/70 and 88.90/00

AUD/USD: Bids 1.0520 down to 1.0500 (Tenkan line 1.0513), weak sell stops below ahead of bids 1.0460/70. Offers 1.0560/80, more ahead of a barrier at 1.0600. Buy stops through 1.0610 ahead of offers/tech 1.0620/25 (Sept 14 high 1.0625)