| Greek November retail sales -11.6% y/y Posted: After -10.8% in October. Don’t get any better |
| Euro zone December unemployment 10.4% Posted: Unchanged from revised 10.4% in November (prev 10.3%) As expected. |
| Update:Germany’s Unemployment Drops More Than Expected In Jan Posted: –Adds Cmments from Labor Agency Head in Third, Last Paragraphs SA Unemployment: -34k (pan-German), -19k (West), -15k (East) FRANKFURT (MNI) – The number of seasonally adjusted jobless in Germany declined much more than expected in January by 34,000 to 2.849 million, the Federal Labour Office reported on Tuesday. The seasonally adjusted jobless rate eased by [...] |
| Analysis:EMU Jobless Rise Slows In December;Rate Stable 10.4% Posted: December preliminary: 10.4% MNI survey median: 10.4% MNI survey range: 10.3% to 10.4% Previous: 10.4% Nov (10.3%), 10.3% Oct, 10.3% Sep, 10.2% Aug, 10.1% Jul PARIS (MNI) – The Eurozone unemployment rate stabilized in December at November’s record high of 10.4%, as the monthly increase slowed to weakest pace in eight months, according to seasonally [...] |
| UK DATA: Net consumer credit hit a record low in and. Posted: UK DATA: Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad money supply data also showed record monthly falls, hit [...] |
| Update: BOE Consumer Credit Falls; Foreign Gilt Holdings Dive Posted: –Adds Detail To Version Transmitted At 0930 GMT London (MNI) – Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad [...] |
| EUR/JPY grinds higher… no thanks to USD/JPY! Posted: We’re up at 100.65 after a fresh high of 100.73. There’s a bunch of offers ahead at 100.90/00 with tech resistance up at 101.15/20 (101.16 50 day MA) and 101.40 (55 day MA) USD/JPY’s doing very little slipping back after earlier rumours of possible potential intervention, but going nowhere fast and sitting around 76.25. Japanese [...] |
| Update: BOE’s Tucker Hails ‘Breakthrough’ On Too-Big-To-Fail Posted: –Says Move Brings End Of Too Big To Fail Within Reach –Says Macroprudential Tools Will Make System More Robust LONDON (MNI) – The G20 decision to move to a ‘Common Resolution Regime’ for Large Complex Financial Institutions marks a breakthrough on the “too-big-to-fail problem”, says Bank of England Deputy Governor Paul Tucker. In the chapter [...] |
| BOE:UK Consumer Credit Hits Low; Foreign Gilt Holdings Plunge Posted: London (MNI) – Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad money supply data also showed record monthly falls, [...] |
| UK Dec Mortgage approvals 52,939 vs 52,628 in Nov Posted: Highest since Dec 2009 but less than expected 53,700 Dec mortgage lending +£0.7 bln vs +£0.6 bln in Nov (expected +£0.7bln) UK Dec consumer credit -£0.4bln (, expected +£0.4bln) vs +£0.4bln in Nov …. lowest since 1993 Not good numbers but cable supported by month end USD sales |
| BOE’s Tucker Hails ‘Breakthrough’ On Too-Big-To-Fail Problem Posted: –Says Move Brings End Of Too Big To Fail Within Reach –Says Macroprudential Tools Will Make System More Robust LONDON (MNI) – The G20 decision to move to a ‘Common Resolution Regime’ for Large Complex Financial Institutions marks a breakthrough on the too-big-to-fail problem, says Bank of England Deputy Gov. Pauil Tucker. In the chapter [...] |
| AUD/USD barrier looms…. Posted: Just chewed it’s way through offers in the 1.0650/70 area despite some sales from model accounts and a sovereign name. Large offers lie ahead of a 1.0700 barrier with some reasonable buy stops above. Sean mentioned in Asia that there was talk of very large stops at 1.0750, 1.0770 and 1.0800. We’re sitting up at 1.0678 [...] |
| EUR/USD over 1.3200 Posted: On back of better than expected German jobless data. And don’t forget the touted month-end USD sales….. We’re at 1.3208 having been as high as 1.3213 so far. Talk of sell orders clustered 1.3230 through 1.3250. |
| Italian December adj jobless rises to 8.9% :( Posted: Versus revised 8.8% (prev 8.6%) in November. Ughh!! Median forecast had called for 8.7% |
| Germany’s Unemployment Drops More Than Expected In January Posted: SA Unemployment: -34k (pan-German), -19k (West), -15k (East) FRANKFURT (MNI) – The number of seasonally adjusted jobless in Germany declined much more than expected in January by 34,000 to 2.849 million, the Federal Labour Office reported on Tuesday. The seasonally adjusted jobless rate eased by 0.1 percentage point to 6.7%. The median forecast of an [...] |
| GERMANY DATA:JAN SA UNEMPLOYMENT -34K M/M VS MNI….. Posted: GERMANY DATA:JAN SA UNEMPLOYMENT -34K M/M VS MNI FCAST -12.5K –GERMANY Jan sa unemployment rate 6.7% vs Dec 6.8% –GERMANY Jan sa unemployment 2.849 Mln vs Dec 2.883 Mln –GERMANY Jan nsa unemployment rate 7.3% vs Dec 6.6% –GERMANY Jan nsa unemployment 3.082 Mln vs Dec 2.780 Mln –GERMANY Jan sa job vacancies +6k vs [...] |
| German January s.a. jobless total falls 34k to 2.849 mln Posted: Jobless rate fell to 6.7% from previous 6.8%. Median forecasts had been looking for a fall of around 5k and unchanged rate of 6.8%, so data better than expected. EUR/USD has soared a whole 12 pips on the news presently at 1.3192. I’ve got the hump. Where’s Joe!!!! |
| ECB Nowotny: “Of course” risk in ECB’s Greek bond holdings Posted: And today is Tuesday. See, I can state the obvious too…. ECB not involved in private sector discussions on Greece Expect Greece to stay in euro zone, but measures must be taken |
| Stoxx Europe 600 banking index up +1.2% Posted: EUR/USD seeing choppy trade in relatively narrow range in early Europe. Sit presently at 1.3175. On the one hand we’ve had some crappy euro zone economic data (german retail sales/french consumer spending and Portuguese/German bond yield spreads widening out further. On the other, we’ve had talk of general month end USD sales and European stockmarket gains. [...] |
| Austria Faymann: ESM Bailout Fund Should Get Banking Licence Posted: – Should Not Rule Out ECB Taking Haircuts On Greek Bonds FRANKFURT (MNI) – The permanent European bailout fund, ESM, should be granted a banking licence enabling it to borrow in the European Central Bank’s refinancing operations, Austrian Chancellor Werner Faymann said in an interview with German magazine Der Spiegel. “If we manage to get [...] |
Swiss franc is mixed today, higher against the euro, and lower against the US dollar and the Great Britain Pound. Even so, the recent economic forum at 
Cautious optimism has returned to the markets today, bringing risk appetite and sending the US dollar lower against other major currencies. Corporate earnings are encouraging once again, and most of the European Union countries signed on to a treaty requiring tougher fiscal rules. The result is that many investors and Forex traders are feeling more optimistic about what’s next for the global economy, and that means the US dollar isn’t needed as a safe haven.
The Great Britain pound was higher today versus the US dollar and the Japanese yen after a report showed that consumer confidence in the UK improved, while speculation that Greece made progress in the debt-swap discussion reduced demand for safer currencies.(...)
The euro rose today as speculation that Greece is making progress in convincing creditors to reduce the nation’s debt improved market sentiment and eased pessimism about the euro.(...)
The Japanese yen jumped today amid growing concerns about a potential outcome of the European Union leaders’ meeting, especially about the uncertain future of Greece.(...)
