EUR/USD hits session high 1.3440.

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FRANKFURT (MNI) – The European Central Bank on Tuesday allotted E265.4562 billion in its main seven-day refinancing operation at a fixed rate of 1.25%. The ECB satisfied all of the 192 bids received. Today’s operation resulted in a net addition of E18.281 billion after the ECB allotted E247.1752 billion in its 7-day MRO last week. [...]

According to EU document for Finance Minster.  Reuters reports. Deleveraging by banks would prejudice lending to real economy, put excessive additional pressure on sovereign debt

Nov — MNI analysts survey — Oct Revised from lowest median highest ———————————————————————– Econ Sentiment 93.7 92.8 94.1 94.8 94.8 — Industry -7.3 -9.6 -7.5 -7.0 -6.5 -6.6 Services -1.7 0.0 0.0 1.0 0.1 0.2 Consumers -20.4 -20.4 -20.4 -19.6 -19.9 — Retail -11.0 na na na -9.7 -9.8 Construction -24.8 na na na -25.1 [...]

Italy raises 7.5 bln at bond auction vs target range of 5-8 bln. EUR/USD spikes over 1.3400

Weaker than Reuters’ median forecast of 94.0. Business climate -0.44, down from -0.19 in October and weaker than Reuters’ median forecast of -0.30.

Imports up 14% to 919 bln Sees 2012 exports up at least 6% to 1,139 bln, imports up some 7% to 983 bln Exporters cautiously optimistic for 2012, particularly mid-sized firms making investment goods, exporting to dollar markets Emerging markets are barely affected by debt crisis, are investing heavily in future technologies Crucial that EU [...]

London (MNI) – Mortgage approvals picked up shaprly in October, rising to their highest level since December 2009. Mortgage approvals climbed to 52,743 in October from 51,193 in September, with the 3% rise less than the increase seen from the major British Banking Groups in the BBA’s October data. The figures show mortgage demand picking [...]

Up from 51,193 and better than Reuters’ median forecast of 51,500. Highest since December 2009. October mortgage lending 1.288 bln vs 0.481 bln in September, much stronger than Reuters’ median forecast of 0.45 bln. Well I gotta say the UK housing market is proving much more resilient than I was expecting.

FRANKFURT (MNI) – Swedish banks remain well capitalized and continue to have access to market funding, but uncertainty regarding the Eurozone economic outlook poses a risk to Sweden’s financial system, the Riksbank said on Tuesday. “If concerns over soveriegn debt problems increase further, Swedish banks may also be affected,” the central bank said in its [...]

Market nervousness is biggest risk to euro zone Need clear decision on euro zone (that would be good) EUR/USD sits at 1.3335 in rather dull trade. Large (let’s say major) Canadian commercial bank notable buyer from recent lows.  Hey!!

Up from revised 0.82 in September (prev 0.84)

Rich “old fart” to you numbnuts

Mon dieu!! EUR/USD down at 1.3320.  Sell stops seen through 1.3300.  Option-related buy orders seen clustered down at 1.3270/80, more sell stops below there.

BERLIN (MNI) – Eurozone finance ministers will decide today to leverage the European Financial Stability Facility (EFSF) rescue fund only by two to three times, Luxembourg Finance Minister Luc Frieden said in a television interview on Tuesday. “The EFSF needs more firing power,” Frieden told German ZDF public television. “We will increase it today by [...]

DAX down -0.4%, CAC 40 down -0.6%. EUR/USD has given a little ground, down at 1.3335 with real money names notable sellers in recent trade. Got Italian and Belgian bond auctions taking place today, results due at 10:10 GMT and 10:45 GMT respectively. Main data release euro zone business climate indicator due at 10:00 GMT,  [...]

FRANCE DATA: Aug-Oct sa housing starts -1.7% q/q; nsa +12.7% y/y - Aug-Oct sa housing permits +4.6% q/q, nsa +21.9% y/y

PARIS (MNI) – France is working with its EMU partners to impose a fiscal stability pact on the euro area and does not favor a two-speed Eurozone, Budget Minister Valerie Pecresse said Tuesday. In a television interview, Pecresse said that the “golden rule” of eliminating budget deficits applied to all euro area member countries. She [...]

Confirms 1% economic growth forecast There won’t be another austerity package Working with Germany on euro-zone pact with more fiscal discipline Pact would include more efficient intervention from institutions France doesn’t want 2-speed euro-zone All euro-zone countries must approve zero-deficit rule