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• BOE MPC Minutes – summary- rate cut considered, other measures needed
• So much for the lack of surprise…
• Pound tumbles after QE vote narrows to 6-3
• BOE MPC Minutes – QE vote 6-3.. GBP tumbles
• UK- BOE MPC Minutes: Interest rate unchanged vote 9-0
• UK Unemployment Rate : mm Dec 7.8 % v 7.7 Nov %
• UK Claimant Count Change : Jan mm – 12.5 k v -12.1 Dec k
• Coming up – UK Unemployment and MPC minutes – no surprises anticipated…
• Italian Industrial Orders: Dec mm -1.8% v Nov – 0.5 %
• Order board – Europe – GBPUSD
• It’s oh so tempting…..
• Euro dips as French budget minister says 3% deficit goal will be ” extraordinarily difficult”
• South African CPI – Jan mm + O.3% v Dec + 0.2%
• Order board – Europe – EURGBP
• French CPI Jan mm – 0.6 % v Dec + 0.4 %
• EURUSD poll latest
• EURUSD little changed after German data.. EURGBP touches 0.8700
• German PPI Jan + 0.8 mm % v Dec + 1.5%
• German CPI Jan mm – 0.5 % v Dec – 0.5%
• Order Board – Europe – EURUSD

BOE MPC Minutes – summary- rate cut considered, other measures needed Posted: 20 Feb 2013 02:06 AM PST MPC considered cutting rates Possible that further moneatry stimulus alone is sufficent Should consider other measures More targetted intervention needed to boost demand All in all this confirms the recent comments by King and Weale which makes it clear that measures wlil be taken to devalue the Pound in order to increase demand Also suggest they’re running out of ideas Full Minutes at http://www.bankofengland.co.uk/publications/minutes/Pages/mpc/pdf/2013/mpc1302.aspx

So much for the lack of surprise… Posted: 20 Feb 2013 01:51 AM PST Ok, so the UK employment data showed stronger monthly jobless with an improved revision for December, but slightly worse than expected headline unemployment rate. Average earnings slightly lower. And  it was the QE vote that provided  the surprise that sealed the Pound’s fate… Are we so surprised that the QE vote was tighter or is the market more concerned that Merv was outvoted ? Cable still being trashed to 1.5316

Pound tumbles after QE vote narrows to 6-3 Posted: 20 Feb 2013 01:39 AM PST GBPUSD down through key supports at 1.5400 and 1.5350 EURGBP breaks through sell orders to 0.8756

BOE MPC Minutes – QE vote 6-3.. GBP tumbles Posted: 20 Feb 2013 01:33 AM PST BOE Governor King votes with King and Fisher for additonal £ 2.3 bln First 6-3 vote since June 2012 only the 4th time that King has been outvoted

UK- BOE MPC Minutes: Interest rate unchanged vote 9-0 Posted: 20 Feb 2013 01:32 AM PST

UK Unemployment Rate : mm Dec 7.8 % v 7.7 Nov % Posted: 20 Feb 2013 01:31 AM PST   slightly above expectations

UK Claimant Count Change : Jan mm – 12.5 k v -12.1 Dec k Posted: 20 Feb 2013 01:30 AM PST Dec revision – 15.8 k Better data than expected

Coming up – UK Unemployment and MPC minutes – no surprises anticipated… Posted: 20 Feb 2013 01:14 AM PST GMT 09.30 – UK Unemployment Rate  7.7 % v 7.7 % 09.30 – UK Claimant Count  change  -5k v -12.1 k 09.30 – UK Average Earnings Index  1.4% v 1.5 % 09.30 – UK BOE MPC Meeting Minutes

Italian Industrial Orders: Dec mm -1.8% v Nov – 0.5 % Posted: 20 Feb 2013 01:01 AM PST non -seasonally adjusted -15.3% v – 6.7% Industrial Sales mm  + 0.8% v 0.2 %  yy – 6.3% v – 5.4% Not great numbers but Euro seems little fazed at the moment EURUSD still 1.3414….

Order board – Europe – GBPUSD Posted: 20 Feb 2013 12:44 AM PST What I’m hearing from market sources for cable.. Offers at 1.5470, 1.5500-10, 1.5520, 1.5580, 1.5600 Bids at 1.5420, 1.5400, 1.5390, 1.5375, 1.5350, 1.5340

It’s oh so tempting….. Posted: 20 Feb 2013 12:38 AM PST … to post up another ” it’s all very quiet out there” headline to get it all going  again…. ! Surely it must self-start in a minute. What’s everyone waiting for?……..

Euro dips as French budget minister says 3% deficit goal will be ” extraordinarily difficult” Posted: 20 Feb 2013 12:09 AM PST EURUSD dipped to 1.3408 on the news but picking up bids as expected. Currently 1.3414

South African CPI – Jan mm + O.3% v Dec + 0.2% Posted: 20 Feb 2013 12:04 AM PST yy + 5.4 % v + 5.7% Both mm and yy a little below expectations

Order board – Europe – EURGBP Posted: 19 Feb 2013 11:51 PM PST Still hearing good demand in the dips for this pair, particuarly again after yesterday’s sharp move higher on the S&P  AAA downgrade rumours Bids now at 0.8680, 0.8660, 0.8650 with larger ones behind at 0.8630, 0.8610, 0.8600 Offers at 0.8710, 0.8720, 0.8750

French CPI Jan mm – 0.6 % v Dec + 0.4 % Posted: 19 Feb 2013 11:46 PM PST yy   +1.4  %   v   1.5 % below  expectations

EURUSD poll latest Posted: 19 Feb 2013 11:42 PM PST Yesterday’s EURUSD poll for 1.3240-1.3440 brought a large response with roughly equal votes for both sidesas I reported The overnight move to 1.3434 means we’re still in play – just ! Let’s see what this morning brings….

EURUSD little changed after German data.. EURGBP touches 0.8700 Posted: 19 Feb 2013 11:14 PM PST EURUSD trades at 1.3427 and is little changed after German CPI and PPI data just released. Still looks well supported though but offers capping any further move for the moment as European trading gets underway EURGBP also continues to attract buyers after UK debt rating downgrade rumours yesterday and is undoubtdly providing EURUSD support 0.8701 just touched but offers also capping it for the moment too..

German PPI Jan + 0.8 mm % v Dec + 1.5% Posted: 19 Feb 2013 11:02 PM PST above exp yy 1.7% v 1.4 %

German CPI Jan mm – 0.5 % v Dec – 0.5% Posted: 19 Feb 2013 11:01 PM PST as expected yy  1.7%  v 1.7 %

Order Board – Europe – EURUSD Posted: 19 Feb 2013 10:53 PM PST What I’m hearing so far… EURUSD  Bids 1.3410, 1.3400, 1.3390, 1.3375, 1.3350, 1.3325   Offers  1.3440, 1.3450, 1.3475, 1.3500

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