Your forexlive.com ENewsletter

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• Eurozone December Industrial Production-Actual
• Eurozone January Industrial Production coming up
• Sovereign name sellers in EURUSD
• Swiss Government calls press conference on over-heating housing market
• GBP jitters ahead of BOE Inflation Report
• EURJPY Update
• USDJPY Update
• Swedish Central Bank leaves repo rate unchanged
• GBPUSD Order Board
• Swiss Producer/Import Prices
• European Equities tad firmer on the opening
• Option expiries for today – reminder
• USD/JPY Orderboard (& EUR/JPY)
• Ideas Corner
• EUR/USD Orderboard
• Russia backs G7 forex statement
• Dutch Inflation rises yy
• More from The Telegraph
• German Wholesale Price Index YY
• UK Press this morning

Eurozone December Industrial Production-Actual Posted: 13 Feb 2013 02:04 AM PST Sorry folks, earlier post said January but its acutally December Anyhow, + 0.7% mm above expectations -2.7% yy bang on forecast EURUSD little changed at 1.3475

Eurozone January Industrial Production coming up Posted: 13 Feb 2013 01:55 AM PST due at 10.00 GMT Expected 0.2% mm v -0.3 prior and-2.4% yy v -3.7% last

Sovereign name sellers in EURUSD Posted: 13 Feb 2013 01:41 AM PST I’m hearing that sovereign names are being cited as the sellers between 1.3485 and the 1.3500 area that Eamonn posted up earlier.. Still good buying interest on the dips on this pair and EUR crosses

Swiss Government calls press conference on over-heating housing market Posted: 13 Feb 2013 01:32 AM PST I’m hearing this is due at 11.00 with Finance Minister Eveline Widmer-Schlump speaking in Bern The SNB has been raising concerns about the housing market for some time. The counter cyclical buffer is a mechanism which allows the Swiss authorities to tackle overheating in the housing market by putting in place a policy to discourage lending in the housing sector Would thus help dampen demand and help the SNB to maintain the EURCHF base USDCHF at 91.78.. EURCHF 1.2370 with EURUSD looking perky too

GBP jitters ahead of BOE Inflation Report Posted: 13 Feb 2013 01:20 AM PST Further to my thoughts earlier we’re seeing some GBP weakness as we await the BoE’s latest quarterly inflation report  at 10.30 GMT Expect  a downbeat growth outlook after the economy contracted in the final quarter of 2012, raising concerns about the UK sliding further into another recession. The possibility of Governor Mervyn King reiterating his view that the UK needs a weaker currency to help exports and rebalance the economy could also have an impact obviously but he’ll be cautious after yesterday’s G7 farce  over currency wars. In any case devaluation of the Pound serves only to limit the damage given that we’re not exactly rife with export orders….. Cable still has sellers on the rally, and EURGBP getting solid support around 0.8580 and now 0.8600 interim.

EURJPY Update Posted: 13 Feb 2013 12:55 AM PST After the early rally fresh offers appearing at 125.80 ahead of stronger supply into 126.00 and 126.25-30 Bids at 125.30 and 125.10

USDJPY Update Posted: 13 Feb 2013 12:48 AM PST Further to my thoughts earlier to some of you in the comments section we have indeed seen a rally in USDJPY and EURJPY as Europe gets into full swing. Nothing on the wires but the buy dip mantra prevails still. Resistance on USDJPY here at 93.40 and 93.51 ( Asian high ) ahead of strong offers approaching 93.70 Bids at 92.95 and 92.80

Swedish Central Bank leaves repo rate unchanged Posted: 13 Feb 2013 12:35 AM PST Repo rate left unchanged at 1%   Add : They say they’re not expecting any change this year……..

GBPUSD Order Board Posted: 13 Feb 2013 12:23 AM PST Offers at 1.5695 and 1.5720.. More at 1.5780-5800 Bids lining up at 1.5640 and 1.5610

Swiss Producer/Import Prices Posted: 13 Feb 2013 12:18 AM PST Swiss producer and import prices rose 0.8 % in January yy 0.1 % lower compared with December

European Equities tad firmer on the opening Posted: 13 Feb 2013 12:12 AM PST FTSE up 0.1% German DAX up 0.2 % France CAC-40 up 0.1%  Spain IBEX up 0.3%  Italy FTIMB up 0.2%

Option expiries for today – reminder Posted: 12 Feb 2013 11:55 PM PST I posted this a few hours ago – so for all the sleepyheads that missed it: Options Expiries for the 10am NY cut today And with that, have a great, profitable day all!

USD/JPY Orderboard (& EUR/JPY) Posted: 12 Feb 2013 11:53 PM PST Offers 94.00, 93.70 and 93.50 Bids 92.70/80 and again at 92.50/60 Some stops also around and sub- 92.50 (not large) but larger at below 92.00 EUR/JPY Offers 125.60/70 and  126.00 Bids 124.40/50 and  124.00

Ideas Corner Posted: 12 Feb 2013 11:49 PM PST In time honoured Forex Live tradition, and as European trading ( slowly ) gets under way we’d love to hear your thoughts on trading ideas for the day.. Feel free to post them here.

EUR/USD Orderboard Posted: 12 Feb 2013 11:49 PM PST Offers 1.3500 and there are stops above Initial offers 1.3470/80 On the downside, bids 1.3400/10 and 1.3380

Russia backs G7 forex statement Posted: 12 Feb 2013 11:37 PM PST The central bank of Russia has says it supports the views of Group of Seven nations in a statement reaffirming their collective commitment to market determined exchange rates.   Collective commitment ? nothing collective about the comments yesterday !

Dutch Inflation rises yy Posted: 12 Feb 2013 11:32 PM PST Dutch inflation rose to a provisional 3.0 percent year-on-year in January, compared to 2.9 percent in December

More from The Telegraph Posted: 12 Feb 2013 11:08 PM PST I’m inclined to share Jeremy’s confusion: There are two related problems here. One is with the data, which are ever more contradictory. Some of them point to a flatlining, or even still declining, economy, with badly impaired levels of productivity, but there are also quite a lot of alternative data to suggest something better – most notably in near record levels of private sector job creation. The other problem is with what fiscal and monetary policy are trying to achieve, which seems to grow more confused by the day. No one really understands what's going on in our economy

German Wholesale Price Index YY Posted: 12 Feb 2013 11:07 PM PST   German Wholesale Price Index + 2.3%  January y/y        +3.2% Dec   Euro still not interested..!

UK Press this morning Posted: 12 Feb 2013 10:53 PM PST Here’s couple of articles of interest as we await German Wholesale Prices.. Yesterday, the CBI downgraded forecast growth this year from 1.4pc to 1pc, but left 2014 unchanged at 2pc… the CBI said it expected "a triple dip [recession] to be avoided" as the economy expanded slowly in the first three months of the year.  "We are beginning to see the return of organic growth." No triple dip for UK despite extra £75bn of debt, says CBI

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