Your forexlive.com ENewsletter

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• ECB’s Costa: Portugal’s public sector reforms aren’t enough for sustainable public finances
• ECB: Greek bank deposits up +4.1% on month in December
• Option expiries (updated)
• Euro zone December M3 annual growth 3.3%
• Italian Jan consumer sentiment falls to 84.6
• Please sir, I want some more: Swiss Ministers seek more depreciation of ‘strong’ franc
• ECB’s Coene: No currency war as yet, we’re far from that
• Spain November mortgages for housing fall -31.6% y/y
• German Finance Ministry: Troika to determine if Cyprus risks euro stability
• Cable hit early
• Orderboard
• French FinMin: 75% tax is needed
• Quiet start for the AUD/USD
• EUR/USD dips slightly as European traders get their feet under the table
• European stocks set to open marginally firmer
• EUR/USD poll-time!!
• David Cameron has one great ally: the people of Europe
• Nikkei 225 closes down 0.94%
• Today’s option expiries
• Clegg Downplays Rift Over EU

ECB’s Costa: Portugal’s public sector reforms aren’t enough for sustainable public finances Posted: 28 Jan 2013 01:57 AM PST There are risks of reform fatigue in Portugal’s public sector. Reforms need to be politically legitimised via constitutional mechanisms Need to adjust spending in order to have ‘socially acceptable’ taxation Reuters reporting

ECB: Greek bank deposits up +4.1% on month in December Posted: 28 Jan 2013 01:16 AM PST Betta than a poke in the eye with a sharp stick…… Italian bank deposits up +3.7% Spanish bank deposits up +0.3% French bank deposits up +2.2% Elsewhere German bank deposits down -1.5% Cyprus bank deposits down -0.6%

Option expiries (updated) Posted: 28 Jan 2013 01:08 AM PST For the 1000 NY/1500 GMT cut: EUR/USD: 1. 3325, 1.3350, 1.3385, 1.3390, 1.3400, 1.3450, 1.3490,  1.3500 USD/JPY: 88.50(L), 90.00, 91.00, 91.50 GBP/USD:  1.5820 AUD/USD: 1.0335, 1.0400, 1.0450, 1.0500, 1.0550 EUR/AUD 1.2715 EUR/CHF: 1.2500

Euro zone December M3 annual growth 3.3% Posted: 28 Jan 2013 01:02 AM PST Demonstrably weaker than Reuters’ median forecast of +3.9% M3 moving average Oct-Dec 3.7%, up from 3.4% Sept-Nov

Italian Jan consumer sentiment falls to 84.6 Posted: 28 Jan 2013 01:00 AM PST Below Dec’s reading of 85.7 , Reuters consensus of 96.0 and the lowest since Jan 1996 – ISTAT

Please sir, I want some more: Swiss Ministers seek more depreciation of ‘strong’ franc Posted: 28 Jan 2013 12:29 AM PST Recent SNB rhetoric would suggest they ain’t that keen on the idea

ECB’s Coene: No currency war as yet, we’re far from that Posted: 28 Jan 2013 12:15 AM PST Ideal situation would be for the ECB’s government bond buying program (OMT) ‘never to be used’

Spain November mortgages for housing fall -31.6% y/y Posted: 28 Jan 2013 12:07 AM PST Mortgage capital lending falls -34.4%

German Finance Ministry: Troika to determine if Cyprus risks euro stability Posted: 27 Jan 2013 11:59 PM PST Systemic relevance defined in ESM treaty Cyprus must be systemically relevant to get aid Germany awaits Troika report on Cyprus Cyprus may be discussed at March eurogroup meeting Poor little Cyprus

Cable hit early Posted: 27 Jan 2013 11:45 PM PST And often. We’re down at 1.5720 from the 1.5755 which greeted me. Fund and corporate selling noted in this latest leg lower. Talk of buy orders clustered 1.5695/1.5710, sell stops through 1.5690.

Orderboard Posted: 27 Jan 2013 11:45 PM PST EUR/USD:  Bids 1.3440/45 and 1.3400/20, sell stops below. Offers 1.3480/00 (1.3500 barrier) buy stops above through 1.3505/15 GBP/USD:  Bids 1.5695/10 (Aug 21 low 1.5706) sell stops through 1.5690 ahead of bids 1.5670/80. Offers 1.5775/85, 1.5800./10 and 1.5720/30 EUR/GBP:  Offers 0.8545/55 , ahead of tech res 0.8577 (61.8% of 0.9084/0.7756). Bids 0.8500/10 and 0.8460/70 USD/JPY:   Bids 90.70/80 sell stops below ahead of bids 90.50/60. Offers  91.10 up t o 91.30 possible buy stops just above ahead of 91.50 (barrier) with more buy stops above  ahead of   a 92.00 barrier EUR/JPY: Bids 121.90/00, 121.60/70 and 121.00/10, possible sell stops below. Offers  122.50/60 and 122.90/00 (123.00 barrier), large buy stops through 123.10 AUD/JPY:  Bids 95.50/60 and 94.00/10, sell stops below ahead of tech support 93.75  tenkan line. Offers 95.00/10 AUD/USD:  Bids 1.0390/10 (cloud base 1.0394) sell stops below ahead of bids 1.0375/85 and 1.0345/55. Sell stops below ahead of 200 day MA support at 1.0310. Offers 1.0430 layered up to 1.0470 ( some buy stops mixed in through 1.0445/50,cloud top 1.0466) buy stops above

French FinMin: 75% tax is needed Posted: 27 Jan 2013 11:24 PM PST 75% tax was a campaign promise 75% tax intended to be exceptional, temporary French credibility demands 3% deficit target hit Govt steps to affect joblessness ‘quite quickly’ Rate of youth unemployment is unacceptable Still possible to reverse jobless trend in 2013 Hopes for return to growth in 2H Hopes 2H growth will reduce unemployment Bloomberg reporting. 75% tax?   Boggles the mind……………..

Quiet start for the AUD/USD Posted: 27 Jan 2013 11:16 PM PST The pair’s showing signs of basing just above 1.0400 with a narrow 1,9498-30 in Asia. The sharp rally in EUR/AUD in the latter half of last week has kept the AUD/USD depressed but the pair currently looks well supported  ahead of 1.0400 now with talk of some sovereigns bids in the mix. An Australian holiday today has left turnover light but there’s talk of some sell stops just below 1.0400 (daily cloud base 1.0394)with bids down at 1.0375/85 and again down at 1.0345/55. Sell stops below ahead of technical support at the 200 day MA at 1.0310. Offers now start from 1.0430 layered up to  1.0470 (daily cloud top 1.0466) with some buy stops above. AUD sits around 1.0424

EUR/USD dips slightly as European traders get their feet under the table Posted: 27 Jan 2013 10:55 PM PST Down at 1.3445 from the 1.3455 which greeted me. Buy orders 1.3440/45, light sell stops below there before more buy orders clustered 1.3400/20.  More sell stops below there. Topside, sell orders clustered 1.3480/00 ahead of barrier option interest at 1.3500.  Buy stops gathering up at 1.3505/15.

European stocks set to open marginally firmer Posted: 27 Jan 2013 10:38 PM PST Financial bookies see FTSE opening up around +0.1%, DAX up as much as +0.4% and CAC 40 up as much as +0.3%.

EUR/USD poll-time!! Posted: 27 Jan 2013 10:26 PM PST With 1.3450 having been taken out (topside parameter of last poll) it’s time for another poll. We’re at 1.3455. So what will we see hit first, 1.3355 or 1.3555? Reason/s for choice always much appreciated but not obligatory.

David Cameron has one great ally: the people of Europe Posted: 27 Jan 2013 10:18 PM PST Love him or loathe him, latest from AEP at The Telegraph.

Nikkei 225 closes down 0.94% Posted: 27 Jan 2013 10:06 PM PST At 10,824.31, With the TOPIX index falling 0.36% to 913.78

Today’s option expiries Posted: 27 Jan 2013 10:04 PM PST For the 1000 NY/1500 GMT cut: EUR/USD: 1. 3325, 1.3350, 1.3385, 1.3390, 1.3400, 1.3500 USD/JPY: 88.50(L), 90.00, 91.00 GBP/USD:  1.5820 AUD/USD: 1.0335, 1.0500, 1.0550 EUR/AUD 1.2715 EUR/CHF: 1.2500

Clegg Downplays Rift Over EU Posted: 27 Jan 2013 09:53 PM PST About time he said something supportive of the coalition, not that any one listens to him anyway The Liberal Democrats are committed to offering a public vote on the U.K.’s future if the EU creates a new treaty that makes additional demands of the U.K., he said. Mind you you have to keep an eye on the wind direction with this guy… WSJ ( For those who are remotely interested, ‘google’ the headline)

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