–Repeating Version Of This Report 1st Transmitted Monday Oct 31 LONDON (MNI) – The UK’s third quarter data are expected to show modest economic growth, boosted by delayed activity from the second quarter, but fears are growing the economy will contract again in the final quarter of this year. Analysts’ median forecast is for growth [...]

In recent trade. Seen bidding on EBS. Don’t know exact level/s. We’re up at  1.3700  from session low 1.3675.

FRANKFURT (MNI) – The German federal government on Tuesday formally sought bids for the E5 billion top-up of its 1.25% coupon Series 161 five-year Bundesobligationen (Bobls) to be sold November 2. Bids are due by 1000 GMT on Wednesday, November 2. The results of the auction will be announced shortly thereafter. The top-up will bring [...]

–Adds Tax Estimate For 2015 To Story Sent At 07:58 GMT BERLIN (MNI) – The German Finance Ministry expects total public tax revenue this year to exceed estimates dating from May by some E17 billion, German business daily Handelsblatt reported Tuesday citing ministry calculations. For next year, the ministry expects tax revenue to top May [...]

Weaker than median forecast of 47.7.

Ain’t EUR/CHF holding up terribly well given the marked risk off backdrop. Up at 1.2175 from around 1.2145 when I sat down.

Reuters reporting Soc Gen down -13.6%,  credit agricole down -10.8%, BNP Paribas down -10.2% Meanwhile in Germany Commerzbank down -9.8%, Deutsche down -6.8%. Glad I don’t own any European bank stocks, in fact glad I don’t own any stocks at all

BERLIN (MNI) – The German Finance Ministry expects total public tax revenue this year to exceed estimates dating from May by some E17 billion, German business daily Handelsblatt reported Tuesday citing ministry calculations. For next year, the ministry expects tax revenue to top May estimates by around E7 billion, Handelsblatt wrote. For 2013, the ministry [...]

Stoxx Europe 600 banking index down -3.7%. Deep breathes, deep breathes…… Don’t panic Mr Mannering…… EUR/USD down at 1.3745 again.  Talk of buy orders clustered down around 1.3730 and more at 1.3700/10. I think I might need to go have a little lie down  

Cable down marginally in early European trade, presently at 1.6025 from around 1.6045 when I sat down. Talk of buy orders now clustered 1.6000/10, sell stops through 1.5990. At 09:30 GMT we’ve the release of Q3 GDP data expected +0.3% q/q, +0.4% y/y. Also out manufacturing PMI for October, expected down at 50 from previous [...]

434 bps.

Rainer Bruederle, parliamentary floor leader for the Free Democrats Party that share power with the conservatives, said “I was irritated (by the news),” adding “That’s a strange way to act.” Personally I’d be bloody apoplectic if I were a member of the German government. Single currency getting spanked as European trade gets underway, EUR/USD presently down [...]

–Nationwide: UK Oct House Prices Up 0.4% m/m; Up 0.8% y/y –Nationwide: UK Oct House Price Y/Y Rise Largest Since Oct 2010 LONDON (MNI) – UK house prices picked up in October, seeing the largest yearly rise since October 2010. The Nationwide data showed house prices up 0.4% on the month and up 0.8% on [...]

DAX futures down -2.4%, CAC 40 futures down -2.5%. Much weaker than bookies’ forecasts.

Better than Reuters’ median forecasts flat, +0.4% respectively.

Love him or loathe him, latest from AEP at The Telegraph.

No Greek bailout package will be deployed if Greece does not carry out reforms

According to financial bookmakers, FTSE seen opening as much as -1.1% lower, DAX as much as -1.2% lower and CAC 40 as much as -1.1% lower.  Reuters reporting.

“Premier calls for surprise referendum days after European leaders OK aid deal.”  – WSJ Gotta admit, surprised heck outta me. EUR/USD has traded lower again in Asia, down at 1.3815 presently from a North American close Monday up around 1.3850.

– Japan Oct New Vehicle Sales +28.3% Y/Y Vs Sep +1.7% – Japan Oct New Mini-Vehicle Sales +19.9% Y/Y, 1st Rise in 13 Months TOKYO (MNI) – New vehicle sales in Japan posted the second consecutive year-on-year in October, thanks to a sharp drop in demand the year before which was caused by the end [...]