Who would have thunk it?   Lowest read since August 2009. Oh-eh. Well done Joe!!!, rumour right on the money.  It’s a funny old world

FRANKFURT (MNI) – The European Central Bank allotted E38.6198 billion in 91-day refinancing agreement on Wednesday at a fixed rate indexed to the main refinancing rate over the life of the operation. The central bank received 108 bids in this operation. Prior to today’s allotment, the ECB said it would satisfy all bids made. The [...]

Expected  0.63 vs previous 0.80, but the number now being touted is 0.35 EUR/CHF is getting a leg up on this around 1.2283 now from  1.2260 earlier

There are some buy orders clustered down at 1.5505/20 i’m told by a trusted source. Also hearing that the buyer in EUR/GBP was a UK clearer and not the BUBA which was rumoured earlier.

EMU DATA: Unemployment reached an expected 10.3% in October, a new record high, Eurostat reported on Wednesday. – See MNI MainWire for details

November flash: +3.0% y/y MNI survey median: +3.0% y/y MNI survey range: +2.8% to +3.1% y/y October final: +3.0% y/y FRANKFURT (MNI) – As expected, Eurozone consumer prices inflation held firm at 3.0% for the third consecutive month in November, Eurostat reported on Wednesday, citing preliminary forecasts. November’s annual rate suggests a negligible monthly rise [...]

October preliminary: 10.3% MNI survey median: 10.3% MNI survey range: 10.2% to 10.3% Previous: 10.2% Sep, 10.1% Aug, 10.1% Jul, 10.0% Jun, 10.0% May PARIS (MNI) – Eurozone unemployment climbed to a new record high in October, boosting the jobless rate to 10.3% as most analysts had expected, according to seasonally adjusted data released Wednesday [...]

ITALY DATA: Preliminary Novemberr HICP -0.1% m/m, +3.7% y/y, down from +3.8% y/y in October when the index posted the strongest y/y gain since September 2008. The m/m decline was the result of a fall in prices of services and a smaller increase in the price of goods, ISTAT said. –Main domestic index (NIC) -0.1% [...]

EMU DATA: November flash HICP +3.0% y/y, October +3.0%, September +3.0%, August +2.5%: Eurostat flash estimate – EMU November y/y flash HICP matches MNI median fcast – See MNI MainWire for details

FRANKFURT (MNI) – The European Central Bank said Wednesday that it has allotted $352 million in its 7-day USD liquidity providing operation. The central bank said it received 2 bids. Today’s operation was carried out at a fixed rate of 1.08%. The Euro/USD rate was set at 1.3271. –Frankfurt Bureau tel.: +49-69-720 142, email: frankfurt@marketnews.com [...]

BOJ  intervention  in the FX market from Oct 28-Nov 28 totalled 9.0916 trillion yen! According to the Ministry of Finance  

From 10.2 in September, above median forecast of 10.2%. Euro zone CPI estimate for November +3.0%, in line with median forecast. Elsewhere, Greek September retail sales -6.5% y/y after -1.5% in August.   Never rains, it pours 

LONDON (MNI) – UK homeowners injected record amounts of equity, in cash terms, into their properties in the second quarter of the year, according to Bank of England data. Since June 2008 the BOE housing equity withdrawal (HEW) data have shown net injections, with the pace of the injections hitting record levels late last year [...]

Strong move back up from the lows of 0.8528  to 0.8560, but some offers now  fading the rally. There are  more offers apparently up at 0.8580. On the downside bids are  from 0.8530 down to 0.8520 Cable’s suffering on the back of it down to 1.5535 from 1.5570

Yada, yada, yada……. We need a siginificant step towards real economic union Yada, yada, yada……… There must be a sacrifice of sovereignty to achieve structural credibility in the monetary uion Yada, yada, yada………

At 1.2250  I’m told  it relates to some year end covering. Beneath here lies the 200 day MA at 1.2229. NB: Latest CFTC data also points to CHF shorts at 2 year highs

I’m reliably informed by a UK clearer Accounts for that blip up to 1.3302 just now  …. Italian/German 10 year spreads up around 530 bps from 495 bps at the start of the day

SA Unemployment: -20k (pan-German), -18k (West), -2k (East) MNI survey median: -8k m/m MNI survey range: -20k to no change m/m – FRANKFURT (MNI) – The ranks of the unemployed in Germany resumed a downward path in November, while job vacancies continued to grow, the Federal Labour Office reported on Wednesday, citing seasonally adjusted data. [...]

GERMANY DATA: October machine orders +1% Y/Y; September +1%; August +14%: VDMA – VDMA: October domestic machine orders +5% y/y;foreign orders -1% – VDMA: Aug-October TOTAL ORDERS +5% Y/Y;DOMESTIC +8%;FOREIGN +3% – See MNI MainWire for details

versus 8.3% in September, worse than median forecast of 8.3%. Highest since May 2010.