Crushed to a low of 0.9896 with next tech level the lows of 0.9891  (Mar  18). All looking a bit sick out there, AUD’s at 0.9904

Congratulations to the majority (2 to 1) of respondents to the past weekend poll, who rightly said we’d see 1.3500 before 1.4100. EUR/USD has just tripped aforementioned decent-sized stops through 1.3495 and we’ve quickly fallen to 1.3470. Some buy orders noted clustered at 1.3450/60.

July preliminary: -2.1% m/m, +8.4% y/y MNI median forecast: -0.8% m/m, +10.7% y/y MNI survey range: -2.3% to +1.5% m/m June revision: -1.2% m/m (-0.7%) May revision: +3.7% m/m (+3.6%) April revision: -0.4% m/m (-0.3%) March revision: +0.5% m/m (+0.6%) February: +1.5% m/m (unrevised) — PARIS (MNI) – Eurozone industry orders surprised on the downside [...]

EMU DATA: Industrial new orders fell more sharply than expected in July, dropping 2.1% on the month and reducing the annual gain to 8.4%, Eurostat reported on Thursday. – EMU July industry orders m/m below MNI median fcast (-0.5%) – EMU June industry orders rev down -1.2% m/m (-0.7%) – EMU July orders ex-ships/rail/aerospace +1.4% [...]

LONDON (MNI) – Strong export-oriented growth saw UK car production up 10.7% on the year in August, with no clear sign of recent market turbulence curbing output. UK car production for export markets was up 18.0% on the year while domestic production was down 9.2%. In the year-to-date through August car output was up 4.4%. [...]

LONDON (MNI) – Strong export-oriented growth saw UK car production up 10.7% on the year in August, with no clear sign of recent market turbulence curbing output. UK car production for export markets was up 18.0% on the year while domestic production was down 9.2%. In the year-to-date through August car output was up 4.4%. [...]

We’ve just been down to 0.9929 and I’m being told through the bush telegraph that sell stops are now in place of a break down through 0.9930

USD/CAD’ s run into some central bank selling towards the recent high of  1.0187, but the sales appear to be well absorbed  and with Nymex oil prices  heading down almost $2 towards $83.00, further CAD weakness is likely. Next point of resistance after recent year’s high is the Dec 21 high of 1.0212 and the Dec 1 [...]

Latest kick down in the AUD/USD reportedly took out a barrier at 0.9950 (low 0.9949) with a major swiss name apparently involved in the move. Some reasonable buying has since emerged with AUD/USD quickly back up around 0.9975, before finding more sellers and heading back to 0.9955.

LONDON (MNI) – The chance of inflation expectations becoming detached from target is minimal in the current climate, Bank of England monetary policy committee member Adam Posen said in a Wall Street Journal interview. Posen, who has championed the cause of more quantitative easing in the UK, was dismissive of the concern expressed by, among [...]

In recent trade. Cable at 1.5450 from session low 1.5437.

Talk going around the bookies that  NZ may be facing a downgrade, with some heavy persistent selling in Asia and Europe from a UK clearer with strong Asian connections. NZD/USD has collapsed from highs around 0.8065 in Asia to a recent low of  0.7905 Next line of support should this keep going  is down at the [...]

This morning.

–Adds Details From Press Report, Accounting Court PARIS (MNI) – France’s chronic deficit in the social security sphere will be cut to E14 billion next year, a drop of 40% from the peak in 2010, Budget Minister Valerie Pecresse said Thursday. “For the health care sector, the deficit will be less than E6 billion, whereas [...]

Down from 49.o in August, but pretty much in line with Reuters’ median forecast of 48.5.  Lowest since August 2009. Services 49.1, down from 51.5 in August and below median forecast of 51.0. Lowest since July 2009.

Up from previous estimates of +0.1%, +1.5% respectively.

Down slightly from 50.9 in August, but pretty much in line with Reuters’ median forecast of 50.1. Services 50.3, down from 51.1 in August and slightly below Reuters’ median forecast of 50.5.

Where I come from at times like these we like to use the phrase “Harold has arrow in eye” Or maybe even “No shit sherlock” EUR/USD sits at 1.3550, effectively unchanged from when I sat down. Reports of sell stops gathering down at 1.3515/25 (just below Asian low, makes sense) and bigger through 1.3495. Irelands’ [...]

Stocks and oil cratering and then I look at EUR/CHF sitting proudly above 1.2200. And I think to myself; is this telling me something?

PARIS (MNI) – France’s chronic deficit in the social security sphere will be cut to E14 billion next year, a drop of 40% from the peak in 2010, Budget Minister Valerie Pecresse said Thursday. “For the health care sector, the deficit will be less than E6 billion, whereas we were at E12 billion in 2010,” [...]