LONDON (MNI) – The UK construction sector enjoyed a broad-based increase in output in December, helped by a rise in new business, extending the period of sustained expansion to 12 months, the latest Markit/Chartered Institute of Purchasing and Supply Purchasing Managers’ report showed. Activity growth was supported by an increase in new business, which in [...]

–Adds To Version Transmitted At 0930 GMT; Corrects Mortgage Rate London (MNI) – Mortgage approvals rose to their highest level for almost two years in November, coming in very close to analysts’ median forecast, while unsecured borrowing picked up a little, according to Bank of England data. November mortgage approvals came in at 52,854, just [...]

London (MNI) – Mortgage approvals rose to their highest level for almost two years in November, coming in very close to analysts’ median forecast, while unsecured borrowing picked up a little. November mortgage approvals came in at 52,854, just a shade below the median prediction of 53,000. Approvals are still running at historically low levels, [...]

Up from 52.3 in November and better than Reuters’ median forecast of 51.7. UK November mortgage approvals 52,854, better than Reuters’ median forecast of 52,300 and highest since December 2009.

Up a little from flash read of 48.3.

Expansion being a Spanish newspaper. Someone just sent me the headline. Haven’t seen the article and don’t have details at the moment. EUR/USD down at 1.3040 from session high 1.3072. Asian central bank/sovereign notable seller in recent trade. Guess they figured it weren’t gonna reach 1.3080/85 Being told same entity been selling cable too.

From 45.8 in November, some way below median forecast of 45.3.

Last bids in German auction now 10:30 GMT, not 10:00 GMT. So results expected soon after 10:30 GMT.

LONDON ((MNI) – The Bank Of England said Wednesday it was offering an unlimited supply of U.S. dollars in both 7-day and 84-day repo operations. The settlement date on the 7-day op was Jan 5 maturing Jan 12 2012. The Bank said the repo would be at a fixed-rate, with the rate to be set [...]

If you’re not British and of a certain age, you probably won’t have the foggiest what that headline’s all about.   Well tough. Anyways, you know those EUR/USD sell orders I mentioned earlier at 1.3075/85. Well now I’m being told they include Asian central bank sell interest at 1.3080/85. We’re at 1.3062 having been as high as [...]

Up from 36.8 in November. However business expectations drop to 52.1, lowest read since May 2009.

Presently at 1.3055.   Sources report Middle Eastern buying behind the move. Sell orders seen up at 1.3075/85, stops through 1.3100. Given the price of oil recently, guess they’ve got some of them thar petro dollars to diversify

AUD/USD sits presently at 1.0350. Buy orders seen clustered down at 1.0320/30, sell stops through 1.0300. Barrier option interest seen up at 1.0400. 200 dma sits at 1.0416.

FRANCE DATA: Nov sa consumer spending on goods -0.1% m/m, -2.1% y/y – Below all analysts’ forecasts; MNI survey median fcst: +0.5% m/m – Oct-Nov consumer spending +0.2% vs 3Q average; 3Q +0.2% q/q – Oct spending revised to +0.1% m/m from flat m/m – See MNI MainWire for details

Weaker than median forecasts +0.3%, -1.8% respectively. October revised slightly upward to +0.1% m/m from previous flat.

USD/JPY sits at 76.65. Decent buy orders said to lie down at 76.50/60 (in $300-500 mln region) Yesterday Kampo was said to be lying in wait at 76.50/60, and sources confirm they are indeed sitting at 76.50/60. Whether that’ll be enough to hold the recent slippage, who knows.

Dow Jones reporting.  

Germany to re-open its’ 10 year benchmark 2.00% bond issue for up to 5 bln euros. First top-up of issue first sold November 23 last year.  Then it receved only 3.889 bln bids out of possible 6.0 bln.  3.644 bln was allotted at average yield of 1.98%, bid to cover ratio 1.1. Results due soon [...]

Former Economy Minister Tremonti, in an interview with Il Corriere della Sera, opines “I believe that the most serious risk for Italy is not to have to pass a new austerity package, but to have to request assistance from the International Monetary Fund.” Italy requested IMF monitoring back in November and an IMF mission is [...]