Your forexlive.com ENewsletter

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• UK November retail sales inc fuel flat m/m, ex fuel +0.1% m/m
• Japan launches trade dispute against China at the WTO
• Finnish FinMin cuts 2013 GDP growth outlook to +0.5%
• Italy October retail sales -1.0% m/m, -3.8% y/y
• UK November retail sales loom
• Irish PM Kenny: Envisages full bond market return in second half of 2013
• Dutch December consumer confidence -39
• Greek debt agency says completed debt buyback
• EUR/USD jumping up and down on the spot
• BOJ’s Shirakawa: BOJ will conduct powerful easing seamlessly
• Time for a carol……
• Swiss November trade balance 2946 mln
• Spain to ask for bailout in Q1 2013 say Citi, Rabobank
• Some option expiries….
• European stocks seen opening marginally lower
• World Bank fears fresh credit bubble in China on hot money flows
• God save the British economy
• Japan LDP senior official: Will decide on emergency economic package on January 15
• Catalan seperatists unite, promise referendum in 2014
• More on that Y10Tr expansion by the BOJ

UK November retail sales inc fuel flat m/m, ex fuel +0.1% m/m Posted: 20 Dec 2012 01:30 AM PST Weaker than Reuters’ median forecasts of +0.3%, +0.4% respectively Cable down 5 pips at 1.6258.  Thanks a bunch……. ONS says household goods sales show strongest monthly rise since February 2010, driven by tablet computer sales. Guess what every poor sap is getting for Christmas…….

Japan launches trade dispute against China at the WTO Posted: 20 Dec 2012 01:21 AM PST Over anti-dumping duties on high performance stainless steel seamless tubes……

Finnish FinMin cuts 2013 GDP growth outlook to +0.5% Posted: 20 Dec 2012 01:05 AM PST From previous +1.0%. Expects 2012 GDP to contract -0.1%; previously saw growth of 1.0% Sees +1.7% growth in 2014 Sees debt to GDP ratio at 53.2% in 2012, 56.1% in 2013 and 57.2 in 2014 Reuters reporting.

Italy October retail sales -1.0% m/m, -3.8% y/y Posted: 20 Dec 2012 01:01 AM PST M/M and Y/Y declines steepest since April

UK November retail sales loom Posted: 20 Dec 2012 12:49 AM PST At 09:30 GMT. Could be the highlight of an otherwise lacklustre day. How sad is that? Forecasts seem to be calling for a month on month increase in the +0.3/0.4% region. Personally I’d like to see a really crappy number

Irish PM Kenny: Envisages full bond market return in second half of 2013 Posted: 20 Dec 2012 12:39 AM PST Hooooooooray, jelly and icecream for everyone!!

Dutch December consumer confidence -39 Posted: 20 Dec 2012 12:32 AM PST Down from -37 in November October consumer spending -2.4% y/y after revised -0.1% in September Dutch November adj unemployment up to 7% after 6.8% in October

Greek debt agency says completed debt buyback Posted: 20 Dec 2012 12:28 AM PST I thought that had been completed ages ago. I really must pay more attention. Says completed exchange of 31.9 bln euros

EUR/USD jumping up and down on the spot Posted: 20 Dec 2012 12:14 AM PST After yesterdays volatility today is a big anti climax. We’re at 1.3222, within an ace of where we were when I clocked in some three hours ago. Orderwise, talk of buy orders clustered 1.3180/90, sell orders up at 1.3250/60. With the holidays fast approaching this order info will start to dry up.

BOJ’s Shirakawa: BOJ will conduct powerful easing seamlessly Posted: 19 Dec 2012 11:45 PM PST Cannot deny that BOJ monetary policy has impact on fx BOJ policy based only on economy, prices Need to monitor downside risks for economy Inflation target is understood as flexible measure Will conclude discussion of inflation goal next month Eased today to keep Japan on sustainable growth path Govt steps to improve public finances necessary Govt efforts, such as deregulation, also needed to beat deflation Fiscal discipline may loosen if Japan becomes accustomed to long period of very low rates If people become used to low interest rates, that could reduce incentive for structural reform Japan consumer inflation may exceed 1% if steps to boost potential growth bear fruit

Time for a carol…… Posted: 19 Dec 2012 11:33 PM PST You gotta love those fab stained glass windows…..

Swiss November trade balance 2946 mln Posted: 19 Dec 2012 11:02 PM PST Up from 2732 mln in October. Swiss watch exports up 2.9% y/y. Some lucky people gonna get a nice Christmas pressie……

Spain to ask for bailout in Q1 2013 say Citi, Rabobank Posted: 19 Dec 2012 10:59 PM PST Pretty ballsy call.

Some option expiries…. Posted: 19 Dec 2012 10:50 PM PST For todays’ New York cut EUR/USD: 1.3250, 1.3290, 1.3300 (large) USD/JPY: 83.50, 84.00, 84.30, 84.50 GBP/USD: 1.6300 AUD/USD: 1.0400, 1.0480, 1.0500

European stocks seen opening marginally lower Posted: 19 Dec 2012 10:41 PM PST Financial brokers see FTSE opening down as much as -0.3%, DAX down as much as -0.4% and CAC 40 down as much as -0.2%. Things not going so well on the US fiscal cliff front innit

World Bank fears fresh credit bubble in China on hot money flows Posted: 19 Dec 2012 10:36 PM PST Love him or loathe him, latest from AEP at The Telegraph.

God save the British economy Posted: 19 Dec 2012 10:30 PM PST Good luck with that one

Japan LDP senior official: Will decide on emergency economic package on January 15 Posted: 19 Dec 2012 10:12 PM PST Will need significant fiscal spending for supplementary budget USD/JPY has traded lower in Asia, presently at 83.98. The market duly got it’s 10 trln yen ease. Talk buy orders clustered down at 83.50/70, sell orders 84.20/40.

Catalan seperatists unite, promise referendum in 2014 Posted: 19 Dec 2012 10:08 PM PST Whoops a daisy. Not what an embattled Madrid needs to hear……

More on that Y10Tr expansion by the BOJ Posted: 19 Dec 2012 09:40 PM PST Some consternation in the market that the Y10Tr expansion in the Asset Purchase Program is made up of Y5Tr of JGB purchases and Y5Tr of Bill purchases (not so much sustained balance sheet impact).

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