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UK mortgage approvals for home purchase 33,634 in November
Just incase………
Italy December manufacturing business confidence rises to 88.9
Dear Harry……..
For those who like their fibbo retracement levels……
Spain’s Bankia shares open down 12.5% after disclosure of negative valuation
ECB’s Coene: ‘Anglo Saxons’ still have doubts about euro’s future
Japan PM Abe economic adviser Hamada: BOJ should buy more long-dated JGBs and risk assets
French December consumer confidence rises to 86
EUR/USD POLL!!
Sell yen, and buy gold in 2013…..
UBS swiss consumption indicator for Switzerland 1.23 in November
EUR/USD behaves itself over the holidays
See the yen bears been busy while I was gone
Senators to return with 5 days left and no clear fiscal path
Ideas Corner/December 27th
Japan FinMin Aso said instructed by Abe to curb government bond issuance to ensure trust in JGBs
Japan EcoMin Amari – To work to meet high market expectations that are behind higher share prices and lower Yen
ForexLive Asia Wrap for Thursday 27Dec2012: Nikkei powers higher on Yen weakness
Japan’s new Economic Minister Amari to compile Stimulus steps in early January

UK mortgage approvals for home purchase 33,634 in November

Posted: 27 Dec 2012 01:38 AM PST

Little late, came out 8 minutes ago while I was having a leak.

Weaker than median forecast of 34,500.

Impact on cable seemingly nil, nada, sweet fa, bugger all……

Just incase………

Posted: 27 Dec 2012 01:20 AM PST

We ever get through the aforementioned 1.3274 fibbo retracement level, talk of further buy stops through 1.3280.

Sell orders then seen clustered up at 1.3290/13310 before more buy stops through 1.3320.

Don’t people stop for holidays anymore?

Italy December manufacturing business confidence rises to 88.9

Posted: 27 Dec 2012 01:03 AM PST

From 88.5 in November, pretty much in line with Reuters’ median forecast of 88.8.

Overall business morale however fell to 75.4 in December from 76.5 in November, the lowest read since January 2006

Dear Harry……..

Posted: 27 Dec 2012 12:55 AM PST

Geithners’ letter to Harry Reid.

For those who like their fibbo retracement levels……

Posted: 27 Dec 2012 12:22 AM PST

1.3274 is the 76.4% retracement of the recent 1.3309-1.3159 sell-off. Just sayin

UPDATE: Well at least we’re getting a little pause, if nothing else. From session high 1.3272 we’re presently at 1.3265.

Spain’s Bankia shares open down 12.5% after disclosure of negative valuation

Posted: 27 Dec 2012 12:15 AM PST

Here’s the story.

Not hurting euro any. Buy stops tripped in EUR/USD and we’re up at 1.3270.

ECB’s Coene: ‘Anglo Saxons’ still have doubts about euro’s future

Posted: 27 Dec 2012 12:06 AM PST

Those doubts not very evident this morning as EUR/USD ticks to session high 1.3255.

Not central bank’s job to tackle fundamental problems
Governments must play their role, or economic recovery will slow
Flexibility will be required to fix problems
Still have room to manoeuvre on interest rates

Japan PM Abe economic adviser Hamada: BOJ should buy more long-dated JGBs and risk assets

Posted: 26 Dec 2012 11:56 PM PST

BOJ buying foreign bonds could be a policy option
Desireable for BOJ to target inflation of 2-3 pct
BOJ should pursue unlimited monetary easing
Must revise BOJ law that guarantees its independence, to hold BOJ accountable for its policy objectives

French December consumer confidence rises to 86

Posted: 26 Dec 2012 11:47 PM PST

From 84 in November, stronger than Reuter’s median forecast of 84.

Meanwhile, French public debt falls to 1.818 trillion euros or 89.9% of GDP at end of Q3

November producer prices -0.5% m/m, weaker than Reuter’s median forecast of -0.2%.

EUR/USD POLL!!

Posted: 26 Dec 2012 11:45 PM PST

If there are any of you out there not enjoying a prolonged Christmas/New Year break…..

We’re at 1.3245.

What’ll we see first, 1.3145 or 1.3345?

Reasons for choice always welcome, but not obligatory.

Sell yen, and buy gold in 2013…..

Posted: 26 Dec 2012 11:34 PM PST

Says Barclays.

‘We think the USD/JPY move will be frontloaded. Our forecasts anticipate the bulk of the adjustment to happen during the first quarter of 2013′

UBS swiss consumption indicator for Switzerland 1.23 in November

Posted: 26 Dec 2012 11:09 PM PST

Down from 1.30 in October.

Don’t ya go removing that EUR/CHF peg anytime soon………

EUR/USD behaves itself over the holidays

Posted: 26 Dec 2012 10:59 PM PST

When I was last here on Monday I advised buy orders clustered 1.3150/70, sell stops touted through both 1.3150 and 1.3140, while sell orders were said to be clustered 1.3230/50, buy stops through 1.3255.

Well both sets of stops remain intact, if the topside ones only just.

Slight variance this morning with talk of stops through both 1.3255 and 1.3260, take your pick. What’s 5 pips between friends.

See the yen bears been busy while I was gone

Posted: 26 Dec 2012 10:47 PM PST

I can’t say it comes as much of a surprise. Not with all the forecasts I’ve been seeing calling for USD/JPY up around 90.00 in 2013.

But trees don’t grow to the sky and at some juncture we’ll see some consolidation of recent gains. Anyone got a clue when that’ll be, please let me know.

For today, talk of sell orders clustered 85.85/00 ahead of the next barrier option interest at 86.00.

On the downside, buy orders seen clustered 85.30/50. Talk of trailing sell stops through 85.20.

Senators to return with 5 days left and no clear fiscal path

Posted: 26 Dec 2012 10:33 PM PST

Oh dear

Ideas Corner/December 27th

Posted: 26 Dec 2012 10:07 PM PST

Got any ideas you’d like to share with your fellow readers, then here’s where to stick ‘em.

Japan FinMin Aso said instructed by Abe to curb government bond issuance to ensure trust in JGBs

Posted: 26 Dec 2012 09:42 PM PST

via Reuters

Also:

Government will aim to make public finances sustainable in the long term

Japan EcoMin Amari – To work to meet high market expectations that are behind higher share prices and lower Yen

Posted: 26 Dec 2012 09:09 PM PST

He isn’t trying to talk down expectations … is he? Oh dear …

ForexLive Asia Wrap for Thursday 27Dec2012: Nikkei powers higher on Yen weakness

Posted: 26 Dec 2012 09:07 PM PST

A low-volume day, as expected, with many market participants on holiday.
A light data/news day too:

Geithner sent a letter to the US Senate saying the US will reach its statutory debt limit on Dec. 31 and that the Treasury will take ‘extraordinary measures’ to postpone a default, which will allow around 2 months to reach an agreement. There was little else on the Cliff issue; the players are expected back in Washington on Dec. 27.
Chinese November Industrial Profits for January: November came in +3.0%, a big jump from the +0.5% in October
Japan Vehicle Production Y/Y for November was -8.4% (Oct. was -12.4%)
Japan Housing Starts +10.3% Y/Y for November (Market expected +10.7%)
Japan Big 50 Constructors Orders (by Contract Value) for November -2.1% (Prior, October was -13.8%)
Japan Housing Starts Annualized for November 0.907M (Expected was 0.911M)
Late in the session the new Japanese EcoMinister Amari was reported on Reuters to have said he would work to meet high market expectations that are behind higher share prices and lower Yen … which sounded a little like maybe he was trying to lower expectations. The first sign of backpedalling from the new government?

The Yen continued its weakening ways, as high as 85.84 (EUR/JPY 113.61) in Tokyo morning, and higher again in the post-lunch,with very little in the way of dips.
EUR/USD did its ‘planking’ impersonation, trading a very tight range of 1.3220/1.3240, with a brief spike to 1.3246
The NZD/USD found some support once New Zealand got active this morning, it traded from sub-0.8160 to 0.8210
AUD/USD was very quiet, 1.0362/78 the range. It was helped by AUD/JPY buying but hindered by fears over the fiscal cliff.