Expected -0.2% m/m, +5.9% y/y, after July +0.5% m/m and +6.1% y/y Mild improvement on the m/m but little reaction to the EUR/USD holding steady around 1.3185

Luxembourg (MNI) – Belgium Finance Minister Didier Reynders Tuesday left open the possibility of a larger private sector haircut on Greek sovereign debt than has so far been agreed, stoking further speculation that the second Greek bailout deal of July 21 may be re-considered. “We will see,” Reynders responded, when asked about potential additional demands [...]

–Sep CIPS Construction Index 50.1 Vs 52.6 In Aug: Markit/Reuters LONDON (MNI) – The UK construction industry saw negligible growth in September, according to the latest CIPS/Markit survey. The September CIPS construction index came in at 50.1, a shade above the 50 contraction/expansion line, and well below analysts’ median forecast for a 51.7 outturn. The [...]

Along with central banks will take all measures to safeguard Dexia’s clients Funny how those stress tests  failed to see this coming….. Show’s how useful they were Anyway EUR/USD’s back up from the abyss after a low of 1.3145, around 1.3180 now

Last flush out  to a new year low of 0.9414 coincided with some large Japanese  margin related sell stops in AUD/JPY through 72.50. AUD/JPY hit a low of 72.19 before bouncing to 72.58… Talk of more sell stops through 72.00 Were back up again at 0.9443 in AUD/USD (NB: Sean mentioned some technical strong support at [...]

UK DATA: The UK September consruction PMI 50.1 vs 52.6 in August, while the median forecast was. 51.7

A lot lower than expected  (51.0) after 52.6 in August. GBP/USD bashed down through  1.5400 and sovereign bids, to  1.5386 Bids nearby apparently at 1.5370/75 ahead of bigger at 1.5325/30

Not the big bamboo eater….., the one south of the Himalayas .. Cable’s around 1.5410 UK Sept CIPS construction PMI up in 10 mins or so, expected 51.0 (last 52.6)  

Strong bounce off the  0.9182 lows was led by Middle Eastern buying with a quick pull up to 0.9231 We’re around 0.9220 now I’m searching for orders in this pair but nothing as yet……  

Back down into the 100.90′s now with those stops looming at 100.70. Not a lot between a break there and 100.00, but expect some bids in front  of 100.00 from option related names Might even get some comments from the Japanese officials too………..

But fall slowed up by EUR/GBP slipping from  earlier highs around 0.8559 Talk of some decent bids 0.8530/35 and 0.8500. Cable bids 1.5370/75 We’re presently sitting around 1.5428 and 0.8535  

EEEK!… prompts  Belgian Fin Min Reynders to  say that the government will act to support Dexia SA….. again. First they will have to read all the proposals from the bank’s board meeting EUR/USD heading lower again to 1.3178

Thanks to S&P… were back to 1.3190. Earlier mentioned bids of some size noted by Sean earlier are at 1.3160/70 UPDATE: Also hearing that Dexia shares are getting trashed again which will be adding to this down 23% and the lowest since March 2009  

S&P  says Europe faces a rising risk of a double-dip Sees Eurozone growth at 1.1% in 2012 EUR/USD’s softer on this, down to 1.3215

We saw a low of  around 72.50 in Asia, and am now being told that Japanese names have placed large stops around 72.50 and 72.00 from margin trading houses. AUD/JPY’s at 73.02

Will take time and isn’t enough on its own to boost growth Must get on top of the debt and deficit, if not interest rates will go up Must take more action to get that money into banks and businesses Speaking on BBC Manchester  where the Conservative Party conference is taking place Cable’s  just off [...]

A half decent bounce from the post RBA lows around  0.9454 which im told by a major US bank has been corporate driven. Should be some offers towards 0.9540/45, with the large bids below that Sean mentioned around 0.9450. AUD’s at  0.9525

I’m told at 1.3200/05 from my spies. We’re currently sitting at 1.3210

Good morning all, 0830GMT  Sept UK CIPS construction PMI 0900GMT EU Aug PPI previously +0.5% m/m, +6.1% y/y A quiet start to Europe with Asia attempting to consolidate after yesterday’s total mess, but i guess we ’re going to see more  verbal  contradictions from the EU zone to keep day traders happy, Any chance of a sane morning……? Best [...]

–Retansmitting Story Headlined 18:49 ET Monday –Chance Of Recession Low Right Now –Inflation A Little High, But Can Withstand Fluctuation Around 1-2% –Operation Twist To Raise Inflation Rather Than Foster Growth –Europe Is A Potential Source Of Shock To the U.S. By Alyce Andres-Frantz MADISON, Wisc. (MNI) – Jeffrey Lacker, president of the Federal Reserve [...]