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• Eurozone retail sales may: m/m 1.00 % vs +0.2% exp
• Greece expected to meet demands of Troika apart from public sector reforms
• BOE credit conditions improve in Q2
• EURJPY orders
• EURGBP orders
• UK Markit services PMI june: 56.9 vs 54.5 exp
• USDJPY orders
• Coming up at the bottom of the hour – UK Markit services PMI june
• USDJPY back below 100
• Eurozone Markit services PMI june: 48.3 vs 48.6 exp
• German Markit services PMI june: 50.4 vs 51.3 exp
• French Markit services june: 47.2 vs 46.5 exp
• GBPUSD orders
• Italian Markit services PMI june: 45.8 vs 47 exp
• More Portugese cabinet ministers set to resign
• EURUSD clinging to 1.2950
• Spanish Markit services PMI june: 47.8 vs 47.3 prev
• European equity markets open lower
• Will the bugging scandal de-rail US/EU trade talks?
• EURUSD orders

Eurozone retail sales may: m/m 1.00 % vs +0.2% exp Posted: 03 Jul 2013 02:00 AM PDT y/y -0.1% vs -0.2% exp -1.1% prev EURUSD up to 1.2957 on the better data

Greece expected to meet demands of Troika apart from public sector reforms Posted: 03 Jul 2013 01:51 AM PDT Greek senior fin min spokesman on the wires just now in the case of a “worst case scenario” of a delay in aid payment, Grece could compensate by issuing additional T- bills Greece can not meet demands on public sector transfer scheme as they stand right now EURUSD a little firmer at 1.2950

BOE credit conditions improve in Q2 Posted: 03 Jul 2013 01:46 AM PDT Latest release just out from the BOE here demand rises across the board corp credit available +14.2% vs 12.3% prev corp credit available next 3 months +3.5% vs +3.1% prev household credit available +17.4% vs +17% prev household credit available next 3 months +17.2% vs +15.8% Certainly encouraging headline numbers but : default rate on small business loans rose siginificantly in Q2 which tells a less impressive story Cable unmoved at 1.5207 after 1.5218 post-pmi highs

EURJPY orders Posted: 03 Jul 2013 01:41 AM PDT Been a prime mover this morning. Currently 129.35 after falling to 129.00 support Sellers 129.55,129.80,130.00,130.20,130.60,130.80,131.00,131.20,131.50 Buyers 129.00,128.80,128.50,128.40,128.20,128.00,127.50

EURGBP orders Posted: 03 Jul 2013 01:37 AM PDT Broken down through 0.8530-50 support but finding fresh buyers ahead of 0.8500 after strong PMI data. currently 0.8507 Sellers 0.8525,0.8535,0.8550,0.8565,0.8580,0.8590,0.8600 Buyers 0.8500,0.8490,0.8470,0.8460,0.8445,0.8420,0.8400

UK Markit services PMI june: 56.9 vs 54.5 exp Posted: 03 Jul 2013 01:28 AM PDT 54.9 prev highest since june 2007 new business index up to 59.3 vs 57.2 prev. highest since march 2011 Markit says composite index points to +0.5% growth in Q2 Wow GBPUSD immediately at 1.5198 from 1.5154 EURGBP 0.8510

USDJPY orders Posted: 03 Jul 2013 01:26 AM PDT Good reason for both buyers and sellers in a 99-101 range. currently trying to get back up through 100 Sellers  100.20,100.30,100.40,100.60,100.80,101.00,( barrier option),101.20,101.50 Buyers 99.70,99.60,99.50,99.20,99.00,98.80,98.50

Coming up at the bottom of the hour – UK Markit services PMI june Posted: 03 Jul 2013 01:15 AM PDT 08.28 GMT to be precise 54.5 exp vs 54.9 prev Given that this sector is crucial to UK GDP the data has particular significance Any postive news will be seized upon and we can expect cable and EURGBP to be immediate beneficiaries Negative data and we’ll see the pound play rapid catch up amidst the general european-negative tone this morning I remain a GBPUSD seller in rallies whilst also playing EURGBP in a 0.8500-0.8600 range

USDJPY back below 100 Posted: 03 Jul 2013 01:09 AM PDT EURJPY selling pressure has given the short-term longs a good enough reason to cash in, or be squeezed out German and US names notable sellers Stops triggered through 100 to 99.71. currently 99.83 I have said a few times recently that I prefer to sell the rallies on opportunity/reward ratio.. Was short at 100.70 from yesterday but bought back too early at 100.15 Hey ho. Onwards !

Eurozone Markit services PMI june: 48.3 vs 48.6 exp Posted: 03 Jul 2013 12:59 AM PDT 48.6 prev composite 48.7 vs 48.9 exp/prev

German Markit services PMI june: 50.4 vs 51.3 exp Posted: 03 Jul 2013 12:55 AM PDT 51.3 prev Final nail in the coffin for EURUSD’s brave attempt to hold 1.2940-50 Stops triggered as I reported earlier. Currently 1.2930

French Markit services june: 47.2 vs 46.5 exp Posted: 03 Jul 2013 12:54 AM PDT 46.5 prev composite 48.3 vs 48.6 exp/prev

GBPUSD orders Posted: 03 Jul 2013 12:47 AM PDT Currently 1.5157 after 1.5130 lows just now. Finding support from EURGBP selling. Sellers 1.5165,1.5180,1.5200,1.5220,1.5240,1.5250,1.5280,1.5300 Buyers 1.5120,1.5110,1.5100,1.5080,1.5070,1.5050,1.5000

Italian Markit services PMI june: 45.8 vs 47 exp Posted: 03 Jul 2013 12:44 AM PDT 46.5 prev

More Portugese cabinet ministers set to resign Posted: 03 Jul 2013 12:43 AM PDT Out on the wires The uncertainty adding to euro woes at the moment Portugese bond yields trading around 8% leading other peripheries higher too. Ouch

EURUSD clinging to 1.2950 Posted: 03 Jul 2013 12:29 AM PDT European equities lower, bond yields higher. All adding to Euro-negative tone this morning More support seen on EURUSD ahead of 1.2943 tech support. Stops below EURJPY down to test support at 130.00. Dragging USDJPY down to 100.44 EURGBP at the bottom end of the 0.8550-0.8600 recent range EURAUD still clinging to 1.4300 as AUDUSD remains soft.

Spanish Markit services PMI june: 47.8 vs 47.3 prev Posted: 03 Jul 2013 12:15 AM PDT highest since june 2011

European equity markets open lower Posted: 03 Jul 2013 12:10 AM PDT FTSE -1.00% DAX -0.9% CAC 40 -0.9% IBEX  -1.8% FTMIB  -1.1%

Will the bugging scandal de-rail US/EU trade talks? Posted: 02 Jul 2013 11:42 PM PDT Respected BBC correspondent Gavin Hewitt argues here that it won’t. Worth a read.

EURUSD orders Posted: 02 Jul 2013 11:24 PM PDT Early selling is looking to test good buying interest between 1.2950-60. Behind that is the 1.2943 tech support line ( 76.4 fib retracement of 1.2796-1.3418) Currently 1.2966 Sellers 1.2985,1.3000,1.3020,1.3050,1.3070,1.3080,1.3100,1.3150 Buyers 1.2960, 1.2950,1.2940 ( stop loss selling below if breached ),1.2920,1.2910,1.2900,1.2880,1.2850

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