Share losses accelerate during US afternoon despite upbeat US economic data US personal income falls 0.1%, spending rises 0.2%; core PCE 1.6% y/y Chicago PMI jumps to 60.4 from 56.5; exp 55.5 University of Michigan consumer sentiment index 59.4 versus exp 57.8 Austria approves EFSF expansion USD share of global reserves falls to 60.2% in [...]

We’ve probed below this level twice this week but have not been able to close below the 50% retracement of the 1.18/1.49 range in place over the last two years…

Net dollar longs on the CME are the largest since June 2010…

But he’s pretending he’s not home...Good move, Warren. Anything that bring’s Europe’s sovereign/banking crisis back into the spotlight tends to send EUR/USD plunging. 1.3405 the low so far in thin-month-end trade.

Iconic camera and film manufacturer Kodak may seek bankruptcy protection, Bloomberg reports.  

You guys have donated $1800 to the BuddyWalk in the last 24-hours and a total of $2600. We’re almost half way to last-years total and 1/4 of the way to the goal of $10,000. No donation is too small. This month there are 130,000 of you out there reading the site. Just a dollar is [...]

We tested the 1.3414 level posted at the 15:00 GMT fixing and so far we’re holding. Risk-aversion is on the rise once again with the CRB down over 2.5% and the S&P is down 1.7%.

The deficit was 9.8% rather than the previously reported 9.1% after including Madeira’s hidden debt, according to Bloomberg. The government is aiming for a deficit of 5.9% this year… EUR/USD continues to slide after holding the 1.3560 area. 1.3514 was the earlier low.

Here, from the NY Fed…

Also on the wires, Spanish PM Zapatero says Spain’s credibility in the markets is a top priority for Spain. Stocks are taking a turn for the worse late in the day, with the S&P down 1.4%. EUR/USD is following, now at 1.3438 after stalling repeatedly around 1..3460.

I thought Merkel was hosting? Can’t keep my euro zone meetings straight… Also crossing the wires is a headline that Portugal’s Madeira region has debt of 6.3 bln euros. No perspective is offered, so I can’t say whether this is a surprise or not. Given that it is released late on a Friday afternoon, it [...]

-Adds Fuller Quotes From French President PARIS (MNI) – France’s President Nicolas Sarkozy Friday reaffirmed his support for Greece late Friday, casting it as both a moral and an economic obligation to save the debt-choked country. Speaking outside the presidential palace here after an hour-long meeting with Greece’s Prime Minister George Papandreou, Sarkozy also said [...]

EZ EZ EZ EZ EZ IT IT PPI PPI Retail Retail Rate PMI PMI Sales Sales Decision Mfg Svcs % % % % bps m/m y/y m/m y/y sa Median Forecast -0.2 5.9 -0.3 -0.7 1.5 46.3 47.0 High forecast 0.1 6.3 0.3 -0.6 1.5 46.9 47.8 Low forecast -0.3 5.7 -0.8 -1.2 1.0 45.9 [...]

DE DE DE DE Factory Factory Industrial Industrial Orders Orders Production Production % % % % m/m y/y m/m y/y sa wda sa wda Median Forecast -0.2 4.2 -2.0 6.8 High forecast 1.0 5.0 -0.9 7.6 Low forecast -2.0 3.0 -3.5 5.7 Previous period -2.8 8.7 4 10.1 Number of responses 15 6 15 7 [...]

Rumors are circulating in the twittersphere that the haircut on Greek bonds will move from 21% to 75%. Not sure European banks are ready for that…Better get those capital backstops in place.

–Key Senator Sees ‘At Least’ 60 Senate Votes For China FX Legislation –FX Bill Will ‘Send a Message To China’ –’Optimistic’ China FX Bill Will Get To Obama’s Desk By John Shaw WASHINGTON (MNI) – Sen. Chuck Schumer, the third ranking Senate Democrat, said Friday the Senate will take up currency legislation next week and [...]

Cable trades close to session highs of 1.5663 set just a short while ago, consolidating gains after a swift turnaround from 1.5535 lows set shortly after US stock markets opened. EU subsidy payments to UK farmers are the outstanding flow of the day and could be painting a rosier picture than the pound deserves. Markets [...]

FRANKFURT (MNI) – Friday’s unexpected jump in September Eurozone consumer inflation has probably ended any expectation that the European Central Bank will cut interest rates at its October 6 meeting. However, the central bank might still loosen its policy by the end of the year. While Friday’s HICP flash reading of 3.0% will not make [...]

FRANKFURT (MNI) – Friday’s unexpected jump in September Eurozone consumer inflation has probably ended any expectation that the European Central Bank will cut interest rates at its October 6 meeting. However, the central bank might still loosen its policy by the end of the year. While Friday’s HICP flash reading of 3.0% will not make [...]

USD/JPY reached 77.20, a level where Japanese exporter offers were touted and just a pip and a half above the 61.8% retracement of the slide from 77.85 to 76.10. Looks like a good level to trim some longs if you are lucky enough to have them… Small stops are seen in the 76.90/95 area from [...]