Been down to 0.9903 recently, but currently finding some fibonnacci support at 0.9910 now. There’s sell stops set on a break of 0.9900 ahead of some reasonable bids at 0.9865/70

But crisis could  hit the financial system through share price falls.

BRUSSELS (MNI) – A European Commission study examining options for euro area governments to issue some debt collectively, to be formally presented on Wednesday, focuses on three possibilities, including a complete collectivization of governments’ bond issuance, according to media reports. One option is to replace all national bond issues with bonds jointly backed by all [...]

No shit sherlock…..

You betcha.

Been told there are sell stops now placed on a break down of 1.5680 which if hit opens a move down to 1.5630/35 We’represently sitting around 1.5697 after a recent low of 1.5688

Apparently  the 1.3440 low earlier coincides with the base of the weekly ichimoku cloud, and we’re now seeing a small bounce back towards 1.3465. Offers  are seen up at 1.3490/00

Growth risks are on downside, global growth slowing down siginificantly We’re all doomed I tell ya!!! I’m taking the day off. I’ll leave you in the capable hands of Joe “The Informer” Brown.

Meanwhile, French/German 10 year govt bond yield spread widens 9 bps to 161 bps. EUR/USD down at 1.3455, Middle Eastern names notable sellers from the 1.3500 level.  Does anyone else trade forex apart from frickin Middle Eastern sovereigns? Stops through 1.3440 as mentioned by Joe earlier before buy orders clustered around 1.3430. More sell stops [...]

Implementing single market reforms would increase EU GDP by more than 3% by  2020

Apparent the flow is being soaked up by bids from a US investment house and bids from Algo traders We’re at the day’s lows around 1.5723, with some tech support noted at 1.5720  

Should buy significant amounts of govt securities Sustained high inflation not a threatin this environment, economy has turned out as grim as forecast

VIENNA (MNI) – Europe must solve its problems in order to ensure stability, European Central Bank Governing Council member Ewald Nowotny said Monday. The head of the Austrian National Bank said in remarks to open a conference on European Economic Integration that “it will be necessary to find solutions for pressing problems at the European [...]

FRANKFURT (MNI) – Bank of England Monetary Policy Committee member Adam Posen on Monday called on both the European Central Bank and the U.S. Federal Reserve to purchase “significant quantities” of government debt, saying that “too much time has been wasted” worrying about market and public opinion. “The right thing to do right now is [...]

Europe’s economic standstill likely to slow down any improvement in public finances Implementing EU single market reforms would increase GDP by over 3% by 2020

Technical support seen down at 1.3445/50 with sell stops below through  1.3440. We’re currently down at the day’s lows of 1.3460  

Countries need to focus on dealing with their own economic problems to achieve strong growth

Just slipped down through some bids at 1.3500 and through some stops at 1.3490 to 1.3484. All rather quiet this morning with little intel so far i’m afraid, but the latest move lower has been attributed to some macro and model account sales

me too…. Berkshire Hathaway not considering direct European investment, says the “sage of Omaha.”  

A  quiet start this morning in Europe and a fairly sparse calendar for today’s events with Oct Swiss M3 at 0800GMT followed by  EU current account data at 0900GMT 1245GMT ECB’s Stark is speaking in Dublin on economic adjustment In the US Canada Sept  wholesale sales at 1330GMT Oct Existing home sales at 1500GMT 1930GMT [...]