WARSAW (MNI) – The measures Greece has decided to take are clearly the best way to get the troubled country back to sustainable growth and job creation, European Central Bank President Jean-Claude Trichet said Friday. Speaking to the media on the margins of a conference of the National Bank of Poland, Trichet said a day [...]

FRANKFURT (MNI) – The European Central Bank’s Governing Council discussed all options at its meeting in early October, including reducing its main refinancing rate, although providing needed liquidity to banks was seen as the most pressing issue, ECB Governing Council member Ewald Nowotny said in an interview on Friday. “Of course, we always discuss options [...]

but offers 1.3755/60 capping for now, more seen towards 1.3770 EUR’s at 1.3749

PARIS (MNI) – Optimism among service providers in France hit a 19-month low, as the general outlook on activity and recent business trends continued to worsen, the national statistics institute INSEE reported on Friday, citing its sentiment survey. Extending its string of consecutive declines to four months, October’s one-point drop pushed the sentiment indicator to [...]

BERLIN (MNI) – German Chancellor Angela Merkel’s CDU/CSU-FDP coalition on Friday voted down an opposition motion that the upcoming changes to the EFSF guidelines are subject to approval by the lower house of parliament, the Bundestag. This means, that the new guidelines of the EFSF need to be only approved by the budget committee of [...]

BERLIN (MNI) – German Chancellor Angela Merkel told members of her CDU/CSU parliamentary group on Friday that there exist no differences between Germany and France regarding the European Financial Stability Facility (EFSF), a source from the parliamentary group said after the meeting. “The Chancellor has said there exist no dissent between Germany and France” the [...]

–Adds Detail To Version Transmitted At 0830 GMT –Sep PSNB-X Stg14.138bn vs Stg15.411bn in Sep 2010 –Sep PSNCR Stg19.883bn vs Stg12.133bn in Sep 2010 –Sep Current Budget-X -Stg11.929bn vs -Stg12.815bn in Sep 2010 LONDON (MNI) – Public Sector Net Borrowing fell in the year to September as spending growth virtually ground to a halt, figures [...]

–Sep PSNB-X Stg14.138bn vs Stg15.411bn in Sep 2010 –Sep PSNCR Stg19.883bn vs Stg12.133bn in Sep 2010 –Sep Current Budget-X -Stg11.929bn vs -Stg12.815bn in Sep 2010 LONDON (MNI) – Public Sector Net Borrowing fell in the year to September as spending growth virtually ground to a halt, figures released from National Statistics showed Friday. PSNB-X, which [...]

UK DATA: Sep PSNB-X Stg14.138bn vs Stg15.411bn in Sep 2010 –Sep PSNCR Stg19.883bn vs Stg12.133bn in Sep 2010 –Sep Current Budget-X -Stg11.929bn vs -Stg12.815bn in Sep 2010 ———————————————————————— PSNB-X, which excludes financial sector interventions, fell to Stg14.138 billion in Sep from Stg15.411 bn in the Sep last year earlier. This was a little below the [...]

Sep PSNCR £19.883 bln (exp 12 bln) vs 12.133 bln Sep 2010 Sep PSNB £11.384 bln  (exp 12.15 bln) vs 13.285 bln sep 2010 Cable unfazed by the numbers

Been down to 105.10 just now and there are bids sitting  at 105.00/05, with more at 104.80. Now hearing sell stops set on a break down of 104.70, which could spark a sharper drop to 104.00 Topside offers  are at 106.10 and 106.30

Being partly driven by EUR/GBP, but also seems the market wasn’t impressed with the IFO data. Bids have been filled in the 1.3715/20 area  down to a  1.3704 low. Next level of bids are down at 1.3690. EUR/GBP running into support at 0.8695/00 which trails down to 0.8685. Talk of stops down through 0.8680. EUR/USD’s at [...]

WARSAW (MNI) – The euro is a great success, European Central Bank President Jean-Claude Trichet said Friday. Speaking at a conference of the National Bank of Poland, Trichet — prefacing the prepared remarks made available previously to the media by the ECB — said, “The euro as a currency is a great success indeed.” “It [...]

Current assessment 116.7 (exp 117) vs 117.9 in Sep, Business expectations 97.0 ( as expected) vs 97.1 Sep Little initial reaction in EUR/USD with a small bounce to 1.3745, before heading lower From IFO: Moves to shore up euro are in a critical phase, firms therefore very cautious,Germany has no room to cut taxes . [...]

October sa mfg sentiment index: 97 (down 2 points) Previous results: 99 Sep, 102 Aug, 105 Jul, 110 Jun, 106 May, 109 Apr September sa own-company production outlook: 4 (down 2 points) Previous results: 6 Sep (4), 9 Aug, 6 Jul, 16 Jun, 9 May, 13 Apr, 27 Mar September sa overall production outlook: -29 [...]

Low inflation in Eastern Europe is a challenge Eastern Europe needs sound policy for Euro convergence, strong fiscal plan for confidence Weakness in Euro zone is a “question of confidence” We have credibility for next 10 years on price stability All advanced economies with problems must correct themselves

There’s a large 1.2200 expiry today for the NY cut at 1400GMT, which barring some surprises from the SNB could attract nearer the time. EUR/CHF is at  1.2247

WARSAW (MNI) – The decrease in long-term interest rates in the economies of Central and Eastern Europe is due to the anchoring of inflation expectations as inflation itself has subsided over the years, European Central Bank President Jean-Claude Trichet said Friday. Speaking at a conference of the National Bank of Poland, Trichet said of the [...]

– See Separate Table For Details of Individual Forecasts TOKYO (MNI) – Japanese industrial production appears to have posted the first month-on-month drop in six months, down 2.3% in September, after rising 0.6% in August, according to the median forecast of analysts surveyed by Market News International. The Ministry of Economy, Trade and Industry will [...]

Conservatives agree that ECOFIN can discuss EFSF German parliamentary parties to discuss leveraging EFSF on Tuesday-  (senior Merkel lawmaker)