Your forexlive.com ENewsletter

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• Euro zone November retail sales +0.1% m/m, -2.6% y/y
• EU December economic sentiment rises to 87.0 from 85.7 in Nov
• French FinMin Moscovici: China shares aim for strong euro area
• BUBA’s Weidmann: Warns of ECB anti-crisis policy getting out of hand
• SNB floor for euro/franc still vital for Swiss economy – Labor director
• EUR/USD a real steady eddie so far this morning
• PBOC advisor Chen Yula: Sees China 2013 GDP growth exceeding 8%
• Greek PM Samaras: Athens is delivering on reforms, Europe is helping
• Seems to be some speculation……….
• Italian Nov adj jobless rate 11.1%
• Swedish CB Governor Ingves: Some signs that the crisis in the Eurozone may have bottomed out
• Option expiries (updated)
• S&P: Hurdles stand in the way of Japanese reflation
• French Nov trade balance narrow to Eur-4.3bln
• AUD/USD range bound for now
• French FinMin Moscovici: 2013 to be difficult for world economy
• Cable slips back below 1.6100
• Japan executives warn yen may get too weak
• Today’s orderboard
• German November trade balance sa 14.6 bln

Euro zone November retail sales +0.1% m/m, -2.6% y/y Posted: 08 Jan 2013 02:03 AM PST Compared to Reuters’ median forecasts of +0.3%, -2.7% respectively.

EU December economic sentiment rises to 87.0 from 85.7 in Nov Posted: 08 Jan 2013 02:01 AM PST And above Reuters  consensus of 86.3. Industrial sentiment  -14.4 from a revised -15.0 in Nov, services sentiment -9.8 from -11.9

French FinMin Moscovici: China shares aim for strong euro area Posted: 08 Jan 2013 01:56 AM PST Bless their little cotton socks How bout strengthening the yuan a whole heap.  That would help the euro area.  Just sayin. China supports steps taken to support euro area Yada, yada, yada………

BUBA’s Weidmann: Warns of ECB anti-crisis policy getting out of hand Posted: 08 Jan 2013 01:53 AM PST Anti-crisis measures shouldn’t cause more damage than they prevent (Dow Jones reporting)

SNB floor for euro/franc still vital for Swiss economy – Labor director Posted: 08 Jan 2013 01:30 AM PST Swiss December jobless rise largely due to seasonal factors EU woes to weigh on Swiss jobs in early 2013 Swiss labor market to remain weak until mid-year  Dow Jones reporting.

EUR/USD a real steady eddie so far this morning Posted: 08 Jan 2013 01:19 AM PST Early slippage was curtailed by aforementioned buy orders down at 1.3100/05 (low 1.3103) and we’re back up at 1.3120. 1.3100 is the 100 hma for those who are interested in that sort of thing Sell orders clustered 1.3130/50. Talk of buy stops just above there and through 1.3160.  Take your pick.

PBOC advisor Chen Yula: Sees China 2013 GDP growth exceeding 8% Posted: 08 Jan 2013 01:09 AM PST 2013 new yuan loans can easily top 9 trln yuan Inflation won’t be problem in 1H 2013 Inflation may be concern in 2H Monetary policy may be more cautious in 2H 2013

Greek PM Samaras: Athens is delivering on reforms, Europe is helping Posted: 08 Jan 2013 01:03 AM PST ‘I see the glass half full’, things to get better Will speak about ‘everything’ with Merkel today

Seems to be some speculation………. Posted: 08 Jan 2013 01:01 AM PST China is readying for an RRR cut this month.   Whatever.

Italian Nov adj jobless rate 11.1% Posted: 08 Jan 2013 01:01 AM PST Slightly below expectations of 11.2% , and unchanged from Oct Youth unemployment  rises to a record 37.1% in November      :(

Swedish CB Governor Ingves: Some signs that the crisis in the Eurozone may have bottomed out Posted: 08 Jan 2013 12:38 AM PST Expects overall global growth to be rather normal, which would favour an export orientated nation like Sweden (Comments made in the minutes of the last Riksbank meeting) Reuters reporting

Option expiries (updated) Posted: 08 Jan 2013 12:03 AM PST For the 1000 NY/1500 GMT cut:   EUR/USD: 1.3000, 1.3100, 1.3200. GBP/USD: 1.6200, USD/JPY: 86.00, 87.00, 88.00 EUR/JPY: 112.00 AUD/USD: 1.0385, 1.0395, 1.0400, 1.0420 1.0500, 1.0520 AUD/NZD: 1.2600 USD/CHF: 0.9260 EUR/SEK: 8.7000

S&P: Hurdles stand in the way of Japanese reflation Posted: 07 Jan 2013 11:52 PM PST Hopes for Japan reflation need to be ‘heavily tempered’ Past Japan actions haven’t been enough to beat deflation (guess that’s why Abe intends to be so aggressive)

French Nov trade balance narrow to Eur-4.3bln Posted: 07 Jan 2013 11:47 PM PST From an unrevised Eur-4.7 bln in October

AUD/USD range bound for now Posted: 07 Jan 2013 11:35 PM PST Seems the pair is well bracketed now between 1.0460 and 1.0520, but remains fairly well underpinned  as iron ore  rallies on strong Chinese demand. Until the offers around 1.0550 are taken out  the pair is subject to cross flows particularly against the Yen, with the news o/n of Japan’s intention to buy ESM bonds  providing a short term rally, but equally sparking some profit taking which is now weighing on  AUD/USD along with a bounce in the EUR/AUD back through 1.2500. Talk of some sell stops now building on a break of 1.0465, ahead of bids in the 1.0445/55 region and large down around 1.0390/00 which also holds the 100 day MA at 1.0392. AUD/USD currently sits around 1.0475

French FinMin Moscovici: 2013 to be difficult for world economy Posted: 07 Jan 2013 11:34 PM PST Official speaking in Beijing. He heard concerns from China on European crisis European prospects improved in last couple months He appreciates China’s support of euro zone Bloomberg reporting.

Cable slips back below 1.6100 Posted: 07 Jan 2013 11:29 PM PST Presently at 1.6087. Talk real money and European corporates been seen selling. Tech support/buy orders now seen clustered 1.6050/70 (see orderboard) I’d hazard a guess some sell stops lurking close below 1.6050, but no confirmation as yet.

Japan executives warn yen may get too weak Posted: 07 Jan 2013 11:23 PM PST Eamonn posted this overnight, but just incase you missed it. Just no pleasing some people. If you want to read full article do a google search using the headline.

Today’s orderboard Posted: 07 Jan 2013 11:03 PM PST EUR/USD:  Bids 1.3100/05 and 1.3080/90 sell stops below. Offers 1.3130/50 (Tenkan line 1.3149) possible buy stops just above, ahead of tech res offers 1.3180/00. GBP/USD:  Offers 1.6120/30 and 1.6180/00. Bids/tech supp 1.6050/70 (daily cloud top 1.6051,100/55 day MA’s 1.6057/1.6066) and 1.6010/20 (cloud base 1.6014) EUR/GBP:  Bids 0.8135/40 and 0.8100/10 ahead of tech support 0.8085/90 (55 day MA 0.8086 ). Offers/tech res 0.8150/60 (tenkan line 0.8156), stronger up at 0.8180/00 USD/JPY:   Bids from 87.30 layered down to 87.00 (Tenkan line 86.98), sell stops on a break,  and again through 86.75. Offers 87.80/00 likely buy stops above ahead of tech res/offers 88.35/50 EUR/JPY:  Tech lvl/supp Tenkan line 114.52, sell stops through 114.40 ahead of bids 114.00./10. Sell stops below ahead of tech supp 113.65/75. Offers 115.00/20 with more ahead of 115.50 AUD/JPY: Offers 91.90/10), tech res above 92.40/50 and 92.80/90.Bids 91.50/60, possible sell stops below ahead of bids 91.10/20 and  tech support 90.80/90 AUD/USD:  Offers 1.0500/15 (funds, corporates, importers, RBA) and layered offers/tech res from 1.0535 up to 1.0560. Bids 1.0470/80 (sovereigns), possible sell stops just below ahead of bids 1.0445/55 and 1.0390/00 (100 day MA 1.0392). Sell stops below and again through 1.0350

German November trade balance sa 14.6 bln Posted: 07 Jan 2013 11:00 PM PST Slightly weaker than Reuter’s median forecast of 15.0 bln. Exports -3.4% m/m, imports -3.7% m/m.

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