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Greek September unemployment up at 26.0%
French auction result: Sold a total of Eur 3.970 bln of 2018, 2019 and 2027 OAT’s
I want one of these…
UK Oct Global trade deficit -£9.539 bln
EUR/USD marginally firmer
AUD treading water…?
Van Rompuy report on economic union: Preparatory work on a single EU bank supervisor should begin in earnest in early 2013
France goes to the market this morning..
Swiss November consumer price index falls to -0.3% m/m, -0.4% y/y
Selling Gold On Goldman’s Call?
Greek PM: Our debt is seen as being sustainable, but for this we need growth
Roll up, roll up, November non-farm payrolls contest
UK’s Osborne: Economic situation more difficult than hoped
Chinese ForMin: Vietnam must immediately stop unilateral oil exploring in South China Sea
Today’s orderboard
Swiss unadj jobless rate 3.1% in November
French Q3 Ilo jobless rate 10.3%
New Komeito party head Yamaguchi: Forcing 2% inflation target hurts BOJ independence
Today’s option expiries
Adviser to LDP leader Abe: Govt may submit revision to BOJ law before July

Greek September unemployment up at 26.0%

Posted: 06 Dec 2012 02:02 AM PST

From 25.3% in August

French auction result: Sold a total of Eur 3.970 bln of 2018, 2019 and 2027 OAT’s

Posted: 06 Dec 2012 02:02 AM PST

Out of a targeted Eur 3-4 bln

I want one of these…

Posted: 06 Dec 2012 01:50 AM PST

Problem solved…

I hate having to walk back to the pub on a the next day to retrieve my car after a heavy night…

UK Oct Global trade deficit -£9.539 bln

Posted: 06 Dec 2012 01:32 AM PST

From a revised -£8.439 in September and worse than analysts forecast of -£8.8 bln

Non EU trade deficit widens to -£4.532 bln from a revised -£3.943 bln ( and worse than expected -4.2bln)

(On the back of falling exports and lower prices of goods sold abroad, another blow for young George after yesterday’s autumn statement)

EUR/USD marginally firmer

Posted: 06 Dec 2012 01:19 AM PST

In slow trade. Talk of buying coming out of the Middle East.

We’re at 1.3070.

Sell orders seen clustered 1.3075/85, buy stops above there.

Eurostoxx up around 1%, new 2012 high!!!

AUD treading water…?

Posted: 06 Dec 2012 12:46 AM PST

Looks like the pair is stuck into a tight range again but is holding firm after the rate cut earlier in the week. O/n employment data has contributed to the recovery off the 1.0441 lows in Asia , but the going’s still looking heavy on the upside with large option barrier protection offers ahead of the 1.0500 barrier.

Buy stops are poised to be triggered if the barriers flushed and more through 1.0520 ahead of stronger tech resistance up at 1.0565/70

(HSBC’s Chief economist now believes that we may have seen the last of the recent run of easing from the RBA, with the latest jobs data allowing the central bank to take more time to see if the total of 125 bps in cuts is having a stimulative effect on the economy)

AUD’s sitting at 1.0472

Van Rompuy report on economic union: Preparatory work on a single EU bank supervisor should begin in earnest in early 2013

Posted: 06 Dec 2012 12:36 AM PST

Whatever……

Framework for direct recapitalisation of banks should be finalised by end-March 2013
Bank resolution mechanism should ensure that private sector bears primary burden of resolution
Aim is to set up independent fiscal resource to help euro states absorb economic shocks from 2014
Euro area fiscal capacity would offer basis for common debt issuance without debt mutualisation

France goes to the market this morning..

Posted: 06 Dec 2012 12:28 AM PST

They’re hoping to sell Eur 3-4 bln of Oct 2018, , 2019 and 2027 OAT’s with strong demand expected.

Results are expected just after 1000GMT

Swiss November consumer price index falls to -0.3% m/m, -0.4% y/y

Posted: 06 Dec 2012 12:22 AM PST

From market medians of a flat CPI m/m and on y/y

EUR/CHF remains steady just above 1.2105

Selling Gold On Goldman’s Call?

Posted: 06 Dec 2012 12:04 AM PST

Before you get too carried away you might want to have a peek at George Costanza’s book and do the opposite to what the ‘Vampire Squid’ recommends….

The ‘Vampire Squid’ has released its price targets for the yellow metal, forecasting it to rise to $1,825 over the next three months, then slide to $1,805 in six months, and finally to $1,800 toward the end of 2013; Goldman sees gold averaging $1,750 in 2014.

Nomura on the other hand recommends investors buy the yellow stuff.,.

As an asset, gold has shown a pretty strong negative correlation with the value of the U.S. dollar, which in turn goes down as the Federal Reserve prints more Benjamins. Nomura's economists believe, along with several of their colleagues, that the Bernanke Fed will replace Operation Twist (which didn't expand the balance sheet) with more asset purchases (quantitative easing, or QE) early in 2013.

You can read the rest here ... (Forbes)

Spot Gold is presently sitting at $1690, after falling to $1686 yesterday. Support below is seen at yesterday’s low and $1680 ahead of the 200 day MA at $1662. Nearside tech resistance is at $1700/1701 which also houses the 100 day MA at $1700.70 ahead of $1708.00

Greek PM: Our debt is seen as being sustainable, but for this we need growth

Posted: 06 Dec 2012 12:01 AM PST

That would certainly be a help…..

We will stay in euro, we aim to have “spectacular” transformation in Greece (jelly and icecream for everyone!!)
We have achieved more in last two months than in last three decades (truly scary)

EUR/USD sits at 1.3050, unchanged on the day.

Put a fork in it, we’re done…….

Roll up, roll up, November non-farm payrolls contest

Posted: 05 Dec 2012 11:50 PM PST

Give yourself a chance to win a lovely Forexlive t-shirt.

UK’s Osborne: Economic situation more difficult than hoped

Posted: 05 Dec 2012 11:25 PM PST

UK faces difficult economic outlook
UK is a good place to invest (sounds like it)

Chinese ForMin: Vietnam must immediately stop unilateral oil exploring in South China Sea

Posted: 05 Dec 2012 11:20 PM PST

Oh dear

Today’s orderboard

Posted: 05 Dec 2012 11:05 PM PST

EUR/USD: Bids, 1.3040/50, ( rising trend line support – 1.3040, from Nov 21 lows) likely sell stops below ahead of bids 1.3000/10 and tech support 1.2950 (38.2% retracement of 1.2661-1.3127 rally). Offers 1.3080/00 with likely buy stops above ahead of larger offers 1.3130/50, and tech res 1.3170/75 (Sept 17 high 1.3173)

GBP/USD: Bids 1.6080/90, 1.6050/60 possible sell stops below ahead of bids 1.6000/10. Offers 1.6110/30 (1.6124- 61.8% of Sep/Nov slump) likely buy stops above and through 1.6140 ahead of offers 1.6180/00

EUR/GBP: Offers o.8120/30 and 0.8145/60 with likely large buy stops above 0.8165 (Oct 22 high). Bids 0.81 30/35, 0.8105/15 and 0.8080/90 possible sell stops just below, tech supp/options at 0.8060/70 (200 day MA 0.8059, daily cloud top 0.8064), more bids 0.8040/50

USD/JPY: Bids 82.35/45 and 82.00/10 sell stops below and through 81.85 but stronger bids 81.60/70, with sell stops below through 81.50. Offers 82.60/70 (exporters) buy stops through 82.80 ahead of large offers 82.90/00 (barrier 83.00) very large buy stops just above.

EUR/JPY: Offers 107.90/00 with buy stops above ahead of further offer/tech res 108.30/40. Bids 107.50/60 and 107.40/50, sell stops below ahead of bids 107.00/10.

AUD/JPY: Bids 86.00/10, 85.80/90 (85.83 tenkan line) and 85.40/50, sell stops through 85.40 ahead of tech supp 85.10/20, sell stops below through 85.00. Offers /tech res 86.40/50 (Apr 2 high 86.50), buy stops above ahead of tech res 86.70/75 (86.74 Apr 2 high)

AUD/USD: Bids 1.0440/50 (tankan line 1.0442) sell stops below ahead of more bids, 1.0410/20 and 1.0385/00, sell stops through 1.0385, (100 day MA 1.0392, cloud top 1.0387) ahead of large bids 1.0350/60 with more sell stops below. Offers 1.0480/00 (importers), ahead of barrier interest at 1.0500. Large buy stops above ahead of offers/tech res 1.2510/20 (Sep 21 high 1.5019) more buy stops above there ahead of larger tech res 1.0560/70 (13 Sept high 1.0569)

EUR/AUD: Bids 1.2450/60 ahead of tech supp 1.2410/20 (200 day MA at 1.2413). Offers 1.2520/30 ahead of tech res cloud top 1.2565 and offers 1.2570/80, buy stops above.