vs consensus of -0.1% and -0.5% y/y  much weaker than expected  EUR/USD getting drilled lower on the back of the release through  1.3700

We can buy time but Greece must solve it’s own issues Hopes to boost EFSF to  Eur 1 trln Measures are not to replace market discipline EU members must stick to common fiscal rules Need to create substantial economic growth EU sanctions becoming more comprehensive and increasingly automatic, financial market regulation has to be more [...]

from -18.5 in Oct, lowest level since Aug 2009

EU must stick to the rules, Afraid Europe is repeating the “same mistakes” in handling the debt crisis Treaties should be respected and any renewed treaties made more functional Very real risk of sovereign default which hasn’t been priced in EU debt rates Italy must implement what it promised Greece rejecting bailout would cause worse [...]

In the 10 years via the Securities Market Program (SMP) i’m told. EUR/USD pulling up from recent lows of 1.3697 and now trading around 1.3722

Hearing from a reliable source that corporate buying is  picking up in this pair and we’ve broken up through 1.2345 which i’m told is  a 61.8 fibo retracement of the 1.2475-1.2130 sell off. This could now possibly build higher towards 1.2390 or even 1.2475. But stiff resistance is sitting just ahead of 1.2500. We’re presently [...]

Who  were responsible for the bounce off the recent lows of 1.3712/13, but leveraged and momentum sellers are keeping the downward pressure on  from 1.3730 UPDATE:  Down to new lows of 1.3706 now. Some bids seen 1.3690/00 ahead of more sell  stops down through 1.3680  

–Oct House Prices Up 1.2% m/m; Down 1.8% y/y –Halifax: House Prices Likely Close To Current Level In Coming Months LONDON, Nov 7 (MNI) – UK house prices posted a surprisingly strong 1.2% rise on the month in October, continuing a pattern of volatile monthly movements, the Halifax reported Monday. The sharp monthly gain still [...]

Retail Sales – September - %mom %yoy Median Forecast -0.3 -0.5 High forecast 0.1 0.1 Low forecast -0.6 -1.2 Previous period -0.3 -1.0 - Number of responses 8 6 - 4Cast -0.3 N/A Barclays Cap. -0.6 -1.1 BNP Paribas -0.2 -0.4 Capital Economics -0.5 -1.2 Citi 0.1 N/A ING -0.4 -0.6 LBBW -0.1 N/A West [...]

Industrial Production – September - %mom %yoy Median Forecast -0.8 6.5 High forecast 0.3 9.2 Low forecast -3.5 4.5 Previous period -1.0 7.7 - Number of responses 16 9 - 4Cast -1.5 N/A Barclays Cap. -1.1 7.1 BNP Paribas -3.3 4.7 BoA-ML -2.5 5.6 Capital Economics -2.5 5.6 Citi -0.4 7.9 Commerzbank -3.5 4.5 Credit [...]

CPI – October HICP – October %mom %yoy %mom %yoy Median Forecast 0.2 2.3 0.2 2.5 High forecast 0.2 2.4 0.2 2.6 Low forecast 0.1 2.2 0.1 2.4 Previous period - Number of responses 7 8 5 6 4Cast N/A 2.2 N/A N/A Barclays Cap. 0.2 2.3 0.2 2.5 BNP Paribas 0.2 2.3 0.2 2.5 [...]

–Adds Details Of Program As Reported In French Press PARIS (MNI) – The austerity program to be unveiled Monday by French Prime Minister Francois Fillon will be “balanced between outlays and revenues” and will not demand that employees work an additional day without pay, Finance Minister Francois Baroin said Sunday. Baroin hinted in a radio [...]

Against market consensus of 0.2% for both Soft number which could lead  SNB’s Hildenbrand to consider raising the peg. EUR/CHF’s  just hit a day’s high of 1.2347

Against expectations of -2.3%, +1.2% m/m in Oct (exp +0.1%) Decent bounce on a monthly basis but cable being weighed down by a soggy euro

Just ripped up to 1.2336 ahead of the upcoming Swiss CPI, with market nervous after SNB Hildebrand’s  warnings that further intervention may be necessary . Some strong buying in USD/CHF  from the off this morning adding fuel to the move. Tech resistance seen in the EUR/CHF towards 1.2355.  Were presently sitting around 1.2317

JAPAN DATA: The July-September GDP is expected to have posted the first rise in four quarters, up a real 1.5% q/q, or an annualized 6.1%, thanks to improvement in net exports and personal consumption, according to the median forecast of 27 economists surveyed by Market News International. The Cabinet Office will release the Q3 GDP [...]

– Updates Initial Survey Released on Nov. 2 – See Separate Tables For Details Of Individual Forecasts By Shigeo Kodama TOKYO (MNI) – Japan’s gross domestic product in July-September is expected to have posted the first rise in four quarters, up a real 1.5% q/q, or an annualized 6.1%, thanks to improvement in net exports [...]

By the EUR and just tweaked some stops down through 1.0350 im told by  a contact in Sydney. Talk of some support  around 1.0330  with more stops through Friday’s low of 1.0315 UPDATE:  Above stops taken out to a low of 1.0303, now being told of more stops sub 1.0285

EUR/USD  off early highs in Asia of 1.3839 with some early sellers  seen pushing the pair towards tech support at  1.3740, as the market now focusses on Italy’s woes. Expect trading to be very headline driven this morning. Haven’t heard anything in the way of flows so far but will update as and when i get [...]

Good morning all, 0800 GMT UK Oct Halifax house price index 0815 Swiss Oct CPI 1000 EU  Sep retail sales 1100 GMT German Sep Industrial production Have a great day