Your forexlive.com ENewsletter

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• Portuguese PM Coelho: Country needs political and financial stability
• May UK adjusted construction output unchanged vs April
• Volkswagen 1H sales up 5.5%
• Italian CPI final june: m/m +0.3% unch
• AUDUSD orders
• EURJPY orders
• USDJPY orders
• Portugese bond yields rise after request to delay latest bail out review
• EURUSD orders
• GBPUSD orders
• Shanghai Comp Index closes down 1.62% at 2039.49
• European equities open mostly higher
• Spanish CPI june final: m/m +0.1% vs +0.2% exp
• Early European action sees USD demand again
• Eurostoxx futures up 0.2%
• Nikkei closes up 0.23% at 14,506.25
• Nikkei clinging to 14,500 heading into the close
• ECB’s Praet says interest rates will remain at current levels or lower as long as inflation remains moderate
• S&P revise Irish sovereign credit outlook up to positive from stable
• Data coming up in this session

Portuguese PM Coelho: Country needs political and financial stability Posted: 12 Jul 2013 01:58 AM PDT Q2 may have been a quarter of growth Government has fulfilled internal and external goals Committed to reaching cross party agreement to fulfil country’s needs Government is backed by majority

May UK adjusted construction output unchanged vs April Posted: 12 Jul 2013 01:39 AM PDT Data from the council of mortgage lenders Seasonally adjusted construction flat, but -4.8% y/y Non adjusted output +4.4% m/m -3.4% y/y Home purchase loans rose 31% to 55,900 m/m +19% y/y

Volkswagen 1H sales up 5.5% Posted: 12 Jul 2013 01:35 AM PDT China 1H sales rise 18.7%. +20.9% in June Europe sales -3.5% North American sales +12.3% Commercial vehicles +0.2% (EU -0.8%) Europe is still the biggest market for VW and the drop in sales highlights the weakness in the area. EU sales are around 1.87m compared to the second biggest market, Asia 1.73 of which China takes 1.54m. Commercial vehicle sales were down which also point to a lack of business activity. The figures are across all the brands they own such as Audi, Skoda, Seat and Lamborghini. Worldwide they produced 9.25m cars in F/Y 2012. While not exactly news to trade on, it’s worth keeping an eye on car sales as they can give small clues to the state of economic activity.

Italian CPI final june: m/m +0.3% unch Posted: 12 Jul 2013 01:09 AM PDT y/y +1.2% unch

AUDUSD orders Posted: 12 Jul 2013 01:06 AM PDT Currently 0.9157 Sellers 0.9175,0.9190, 0.9200,0.9220, 0.9250, 0.9280, 0.9300, 0.9310 Buyers 0.9140, 0.9130,0.9120, 0.9100, 0.9085,0.9070,0.9045

EURJPY orders Posted: 12 Jul 2013 01:02 AM PDT Currently 129.22 Sellers 130.00, 130.20, 130.40, 130.50, 130.80, 131.00 Buyers 129.00,128.75, 128.50, 128.25, 128.00, 127.50

USDJPY orders Posted: 12 Jul 2013 12:59 AM PDT Currently 99.14 Sellers 99.30, 99.40, 99.50,99.70, 99.80, 100.00, 100.20, 100.50 Buyers 98.70, 98.50, 98.25, 98.10, 98.00, 97.85, 97.50

Portugese bond yields rise after request to delay latest bail out review Posted: 12 Jul 2013 12:56 AM PDT request made due to political crisis 10 year bonds up 11 bp to 7.08%

EURUSD orders Posted: 12 Jul 2013 12:52 AM PDT Currently 1.3050 right on buying interest Sellers  1.3080,1.3100,1.3120,1.3130,1.3150,1.3160,1.3180,1.3200,1.3210 Buyers 1.3050, 1,3020,1.3010,1.3000, 1.2985,1.2950,1.2900 ( option related)

GBPUSD orders Posted: 12 Jul 2013 12:13 AM PDT Currently 1.5138 Sellers 1.5170, 1.5190,1.5200,1.5220,1.5250,1.5280,1.5300 Buyers 1.5130,1.5120,1.5100,1.5085,1.5065,1.5045,1.5000

Shanghai Comp Index closes down 1.62% at 2039.49 Posted: 12 Jul 2013 12:09 AM PDT A small recovery at the close having been over 2% down in the afternoon Still a 1.6% improvement on the week

European equities open mostly higher Posted: 12 Jul 2013 12:07 AM PDT FTSE +0.2% DAX +0.4% CAC 40 +0.3% IBEX -0.1% FTMIB  +0.2%

Spanish CPI june final: m/m +0.1% vs +0.2% exp Posted: 12 Jul 2013 12:02 AM PDT +0.2% prev y/y +2.15 vs +2.1% exp +1.8% prev fastest rise since march. higher fuel costs cited

Early European action sees USD demand again Posted: 11 Jul 2013 11:49 PM PDT Cable leading the move down to 1.5140 forcing EURGBP up to 0.8629 Support seen at 1.5120-30 then larger buying interest at 1.5100 EURUSD lower at 1.3065 AUDUSD 0.9160 from 0.9177 USDJPY bounces off 98.85 to 99.05

Eurostoxx futures up 0.2% Posted: 11 Jul 2013 11:04 PM PDT DAX futures up +0.3% CAC 40 futures +0.2% Bund futures up 17 at 143.10 Italian BTP futures up 54 at 110.54

Nikkei closes up 0.23% at 14,506.25 Posted: 11 Jul 2013 11:02 PM PDT highest close since 24 may +33.67 high 14,574.17 low 14,417.30 USDJPY 99.02

Nikkei clinging to 14,500 heading into the close Posted: 11 Jul 2013 10:54 PM PDT Currently 14,489.66  +0.19% USDJPY clinging to 99.00

ECB’s Praet says interest rates will remain at current levels or lower as long as inflation remains moderate Posted: 11 Jul 2013 10:52 PM PDT ECB chief economist quoted in German newspaper Handelsblatt, reported by reuters says estimates that EZ bank recapitalization needs are in trillions are over the top

S&P revise Irish sovereign credit outlook up to positive from stable Posted: 11 Jul 2013 10:32 PM PDT rating maintained at BBB+

Data coming up in this session Posted: 11 Jul 2013 09:59 PM PDT Good day everyone Ok, first things first. What another incredible day at The Ashes Delicately poised now after an amazing recovery thanks to 19 year old Ashton Agar. Surely a No 3 bat who can bowl a bit and stuck in at 11 as a deliberate decoy ploy by the Aussies! Fair dues though.. it was a terrific knock which undoubtedly has put his team in with a shout Right, on with the undercard and there’s little to get too excited about data wise. Hopefully EZ ind output might be way out of line and provide some action until we get the US inflation data later In any event I wish you good fortune and, for those heading out shortly, a good week-end Times GMT

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