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• Eurozone industrial production april: m/m +0.4% vs -0.2% exp
• BOE’s Haldan & Kohn
• BOE’s Fisher: FLS remarkably successful in lowering funding costs
• EUR/GBP slapped down after UK jobless numbers
• BOE’s Fisher says it’s not really the job of central bank to fund lending
• BOE’s Donald Kohn says FPC has not been compromised
• May UK jobless claimant count -8.6k vs -5k exp
• EURUSD retreats from strong sell interest
• EURJPY orders
• BOE’s Fishers says UK monetary policy may be kept loose for some time
• EURGBP orders
• Italian CPI may final: m/m 0.0% vs 0.0% exp
• AUDUSD orders
• USDJPY orders
• Aussie marches on through 0.9500
• EURUSD orders
• GBPUSD orders
• European equity markets open lower
• French CPI may final:m/m +0.1% vs +0.2% exp
• French current account april: EUR -2.8 bln vs -2.9 bln prev

Eurozone industrial production april: m/m +0.4% vs -0.2% exp Posted: 12 Jun 2013 02:00 AM PDT +0.9% prev revised down from 1.0% y/y -0.6% vs -1.2% exp  -1.4% prev revised up from -1.7% Good news all round for the collective EURUSD higher at 1.3290

BOE’s Haldan & Kohn Posted: 12 Jun 2013 01:53 AM PDT Kohn Leverage ration of 3% too low in long run Biggest risk is UK, Europe economic weakness UK lenders periphery exposures pose risks FPC may need power to address loan to value ratios Haldane Wanted FPC to have directive powers on leverage ration FPC’s communications record has been mixed so far Operational risk, too big to fail among top risks Search for yield, low rates also among top risks In typical UK fashion we create a body to oversee and manage the financial system and to highlight and act on any systemic risks, yet all I’ve heard from FPC members is that they are lacking a lot of the powers needed to do the job. It’s coming across as another half-arsed scheme that is working with one hand tied behind it’s back. It’s spent more time in poxy parliamentary meetings than it has doing the job it should. Rant over…….for now.

BOE’s Fisher: FLS remarkably successful in lowering funding costs Posted: 12 Jun 2013 01:50 AM PDT Don’t want higher house prices but do want more transactions to boost demand FLS has had stimulus effect on economy Economy growing again but must keep nursing signs of recovery Need to keep pressure on banks to pass on lower funding costs as market not very competitive Worried euro crisis hasn’t finished it’s course Concerned level of real house prices still high

EUR/GBP slapped down after UK jobless numbers Posted: 12 Jun 2013 01:46 AM PDT It was on the way anyway as EUR/USD takes a dive back through 1.33 to 1.3279 The move has pulled up just ahead of the lower channel line running through from April. The low at 0.8469 has also coincided with support at that level. Under here is stronger support at 0.8459 the 0.8438. Above strong resistance comes in at 0.8538/40.

BOE’s Fisher says it’s not really the job of central bank to fund lending Posted: 12 Jun 2013 01:39 AM PDT These are exceptional circumstances Speaking at a conference

BOE’s Donald Kohn says FPC has not been compromised Posted: 12 Jun 2013 01:38 AM PDT Speaking before a treasury select committee

May UK jobless claimant count -8.6k vs -5k exp Posted: 12 Jun 2013 01:30 AM PDT Prior -7.3k Revised to -11.8k Claimant count rate 4.5 % vs 4.5% exp. Prior 4.5% April ILO unemployment rate 7.8% vs 7.8% exp. Prior 7.8% April average weekly earnings 1.3% vs 0.3% exp. Prior 0.4% revised to 0.6% April Ave earnings less bonus 0.9% vs 0.7% exp. Prior 0.8% Seventh consecutive monthly drop and a good revision to last months figures. Average earnings also up by 1% which will while good for the workforce, will be monitored closely by the inflation watchers.

EURUSD retreats from strong sell interest Posted: 12 Jun 2013 01:14 AM PDT Earlier I posted in my orderboard that there was strong sell interest at 1.3340-50 High was 1.3335.now 1.3298 I hope some of you made the most of it

EURJPY orders Posted: 12 Jun 2013 01:10 AM PDT Currently 128.65 Sellers 128.90,129.00,129.50,129.60,130.00,130.20,130.50 Buyers 128.20,128.00,127.80,127.50, 127.00

BOE’s Fishers says UK monetary policy may be kept loose for some time Posted: 12 Jun 2013 01:07 AM PDT Speaking in the Times “The macroeconomic outlook is not as bright as in the US and therefore we are behind them in terms of a return to anything like trend growth” “I won’t get terribly excited until we have had a run of growth that gives us a bit more comfort that something is set in train” Leave the printer on, Fisher tells the office junior.

EURGBP orders Posted: 12 Jun 2013 01:06 AM PDT Currently 0.8492 Sellers 0.8525,0.8535,0.8550,0.8580,0.8590,0.8600 Buyers  0.8480,0.8470,0.8450,0.8430,0.8410,0.8400

Italian CPI may final: m/m 0.0% vs 0.0% exp Posted: 12 Jun 2013 01:03 AM PDT 0.0% prev y/y +1.3%  vs +1.3% exp +1.3% prev consumer prices may final m/m  0.0% vs +0.1% exp +0.1% prev  y/y +1.1% vs +1.2% exp +1.2% prev

AUDUSD orders Posted: 12 Jun 2013 12:59 AM PDT Strong rally this morning as I’ve highlighted.. currently 0.9516 Sellers 0.9550,0.9570,0.9600,0.9630,0.9650 Buyers 0.9480,0.9450,0.9425,0.9410,0.9400,0.9380,0.9350,0.9330,0.9300

USDJPY orders Posted: 12 Jun 2013 12:53 AM PDT We’re seeing yen weakness across the board this morning.. USDJPY currently testing sell interest between 97.00-10 Sellers 97.10,97.20,97.30,97.50,97.80,98.00,98.10,98.40,98.50 Buyers 96.70,96.50,96.30,96.10,96.00,95.50

Aussie marches on through 0.9500 Posted: 12 Jun 2013 12:36 AM PDT Good buying interest/stops on AUDJPY is lifting the pair in strong fashion AUDUSD highs of 0.9539. currently 0.9522 AUDJPY just off its highs at 92.38

EURUSD orders Posted: 12 Jun 2013 12:09 AM PDT Currently 1.3319 Sellers 1.3330,1.3340,1.3350,1.3375,1.3400 Buyers 1.3290,1.3280,1.3270,1.3250,1.3220,1.3200,1.3185

GBPUSD orders Posted: 12 Jun 2013 12:05 AM PDT Currently 1.5670 Sellers 1.5675,1.5685,1.5695,1.5700,( barrier option related)1.5720,1.5750,1.5770,1.5790 Buyers 1.5635,1.5610,1.5600,1.5550,1.5510,1.5500

European equity markets open lower Posted: 12 Jun 2013 12:02 AM PDT FTSE  -0.1% DAX -0.2% CAC40 unchanged IBEX -0.4% FTMIB -0.2%

French CPI may final:m/m +0.1% vs +0.2% exp Posted: 11 Jun 2013 11:48 PM PDT -0.1% prev y/y +0.9% vs +0.9% exp  +0.8% prev

French current account april: EUR -2.8 bln vs -2.9 bln prev Posted: 11 Jun 2013 11:47 PM PDT

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