Apparently sell stops set on a break down of 1.2320 We’re at 1.2342

LONDON (MNI) – After seven consecutive months of declines, mortgage rates rose in October, the Bank of England’s latest survey shows. The deterioration in the economic outlook, and the likelihood the BOE Monetary Policy Committee will keep Bank Rate on hold for a very prolonged period, had previously fed through to lower mortgages rates, but [...]

Took out some sell stops through 1.0270  and through  support from the 55 and 14 day MA’s  at 1.0249 and  1.0235, ahead of support 1.0200/10. We,ve been down to 1,0232 and now sitting around 1.0242  

Athens (MNI) – Vassilis Skouris, president of the European Court of Justice, has been offered the post of the prime minister of the new coalition government in Greece, Greek SKAI TV reported on Wednesday. Skouris’ office declined to comment on the report. Skouris’ name emerged on Wednesday morning after negotiations with the former European Central [...]

–Sep Global Goods Trade Deficit Stg9.814bn vs Stg8.617bn Aug –Sep Non-EU Goods Trade Deficit Stg5.715bn vs Stg5.142bn Aug –Sep Total Trade Deficit Stg2.876bn vs Stg2.354bn Aug –Sep Global Trade Gap Ex-oil/erratics Stg8.386bn vs Stg7.588bn Aug –Sep EU-27 Trade Deficit Stg4.099bn vs Stg3.475bn Aug LONDON (MNI) – The UK’s goods trade deficit widened to a record [...]

Via the Securities Market Program….. EUR’s still  heading lower around 1.3720 Some talk of macro bids sitting around 1.3700/10, but it’s not looking good out there..

vs revised August deficit of -£8.617 bln. Worst since series began Sep non EU trade -£5.715 bln (expected -4.88bln), vs Aug rev -£5.142 bln- worst since Dec 2010 Cable lower on the very poor numbers to  a day’s low of 1.6010, Bids are noted below at 1.6000 and 1.5980

Low on the run was 1.3730 ahead of next touted support level of  1.3700/10 Italian bonds doing all the damage, with so far no sign of the SMP UPDATE: SMP has apparently been seen but not in any larger than  normal size.  

Italian yields rising to  levels not seen since 1997. Offers in EUR/USD holding around 1.3810, with more now sitting above at 1.3825/30 EUR/USD’s back down around 1.3780 and testing the earlier lows where Asian sovereign buying was reported European stocks now all falling back into the red UPDATE: Lower again and now heading for the more [...]

Scope to cut repo rate if needed No more rate rate rises this year and some way into 2012 Monpol in a state of suspension, requires great vigilance on economic policy in Sweden European situation will probably worsen, expects large krona fluctuations Riskbank’s Wickman-Parak:- expansionary Monpol can be extended further without inflation target risks

Can’t confirm the name but it’s a major Asian sovereign buying apparently … Day’s low was 1.3776

LONDON ((MNI) – The Bank Of England said Wednesday it was offering an unlimited supply of U.S. dollars in a 7-day repo operation, settlement date Nov 10 maturing Nov 17 2011. The Bank said the repo would be at a fixed-rate, with the rate to be set at 1.08%. The BOE also announced an 84=-day [...]

Pre tax profits $7.2 bln for Q3 2011 Annualised return on ave Ord Shareholder equity 12.6% for the 9mths Cost efficiency ratio worsened to 54.6% from 54% in 2010

Heading lower with a major German Bank behind the selling i’m told. There’s talk of sell interest into the 1100GMT fix in London this morning with dividend talk of major UK pharmaceutical name in the frame. EUR/GBP sharply lower from 0.8598 Asia highs to a recent low of 0.8555 Initial support is seen around 0.8545/50 [...]

DAX up 1.4%, STOXX up 1.9%, IBEX up 1%, FTSE up 0.6%, CAC up 1%

Been told some Asian names selling just now, but think there should be some support towards 1.0315 (NY session lows) first. Offers are racked up ahead of 1.0400 and more likely around the 200/100 day MA’s around 1.4019/22 Were just off the day’s lows of 1.0323

PARIS (MNI) – French economic activity is likely to stagnate in both industry and the services in the near term, the Bank of France said Wednesday, citing the results of its monthly business survey. The central bank projected no GDP growth in 4Q, suggesting a further loss of what little momentum remains. Last month the [...]

FRANCE DATA: Sep central govt deficit E92.7 bln vs Sep 2010 -E124.2 bln - Deficit in line with budget projections, says Budget Ministry - January-Sept govt outlays -13.0% y/y; January-Sept revenues +1.4% y/y

No alternative to early elections, opposed to any transitional govt (determined to cling on ….)

against -124.2 bln for previous year Industry investment up 11% in 2011, +4% in 2012