Jan Current conditions  -14.7 in Jan from -20.0 in Dec No reaction from the market CHF Orders:  USD/CHF offers 0.9500/20 and 0.9550/60, Bids 0.9430/50  

And want to get off. Middle Eastern central bank just bought EUR/USD down around 1.2785. We’re at 1.2795 presently. On topside real money offers seen 1.2815/25, buy stops above there. Earlier I was told EUR/USD stops through 1.2815, 1.2820 and 1.2825.  Go figure  I’m getting the distinct feeling we’re building up for somesort of big [...]

Govt will react to every point raised by EU Commission regarding disputed laws Hopes Hungary will be able to broker an agreement with IMF/EU in first quarter Firmly committed to keep budget deficit below 3%/GDP, govt ready to take “decisive measures” if slippages occur

–Dec Claimant Count Unemployment +1,200 m/m; Rate 5% LONDON (MNI) – Claimant count unemployment rose only slightly in December suggesting the labour market has not deteriorated as badly as most economists expected, figures released by National Statistics Wednesday. The claimant count rose 1,200 between November and December, less than the median for a 9,000 rise. [...]

Unemployment rate 5% ILO jobless rises 118,000 in 3mths to 2,685 mln in Nov (8,4% vs  expectations of 8.3%) LFS employment up 18,000 to 29,119 in 3mths to Nov Av Weekly earnings +1.9% (exp +2.0%) for 3mths to Nov No real surprises with Cable steady in the 1.5350′s UPDATE: Bids apparently in place at 1.5320/30  [...]

The ratings chief was speaking from Milan

I’ve said it numerous times lately, but the 1.2800 level in EUR/USD is having an uncanny magnetic effect on price action. Just when you think we’re breaking away from it’s pull, back we come…. Weird shit man :)

Told they’re quite reasonable bids down there from various sources and  recent fall was halted at 1.0358. It’s all looking a bit  rangy now  after  Japanese names took the AUD/USD back up through 1.0400, but sellers are camped up around the 200 day MA at 1.0410 and more expected around 1.0420/30. A break up through yesterday’s [...]

Maybe a little longer.  We sit at 1.2758 after a bout of horribly choppy trade, which saw the market in need of a neck brace after being violently whipsawed. Technical support noted at 1.2734 apparently (76.4% fibbo retracement of 1.2711/1.2808 I’m reliably informed) Also talk of ACB bid interest down around 1.2730.  Given 1.2732 was overnight [...]

LONDON ((MNI) – The Bank Of England said Wednesday it was offering an unlimited supply of U.S. dollars in a 7-day operatios. The settlement date on the 7-day op was Jan 19 maturing Jan 26 2012. The Bank said the repo would be at a fixed-rate, with the rate to be set at 0.59%. The [...]

According to senior Fitch director. EUR/USD slips back to 1.2775 on the headline. Talk of some trailing sell stops now through 1.2760. UPDATE:  Stops duly tripped accelerating sell-off. We’re presently down at 1.2738.

We’re up at 1.2800. Middle Eastern (I’m shocked) and Russian buying noted in this latest uptick.  Amazes me how 1.2800 remains so magnetic. Reports on buy stops somewhat conflicting.  Some talk they’re through 1.2810,  other talk they’re through 1.2820. Take your pick. UPDATE:  Reserve Bank of India notable seller into EUR/USD rally.  We’re back below 1.2800 [...]

Deutsche Finanzagentur re-opens 2 year benchmark 0.25% December 2013 schatz issue for up to 4.0 bln euros. Result around 10:30 GMT Portugal’s IGCP auctions 3 month t-bill maturing April 20 2012,  6 month t-bill maturing July 20 and 11-month t-bill maturing December 2012. Indicative target 2.0-2.5 bln. Results due around 10:40 GMT.

From Ba1: outlook stable. It’s all Asia man…….

Boo hiss, nasty hedge funds.

Financial bookies see DAX opening up around +0.1%, CAC 40 down around -0.2%.

Got any ideas you’d like to share with your fellow readers, then here’s where to stick ‘em.

TOKYO (MNI) – Finance Minister Jun Azumi said on Wednesday that market interest rates on Japanese government bonds are “not high” and remain “stable” but also warned that Tokyo cannot be complacent about the need to embark on fiscal consolidation. He also told the Foreign Correspondents’ Club of Japan that “interest rates on government bonds [...]

Despite the liklihood that the SNB will be defending the 1.2000 level in this pair, big real money funds were noted sellers of the cross overnight above 1.2120. It would seem like an obvious thing to do, to wait and sell on stop below 1.2000 if the SNB fail to hold it up, so why [...]

JAPAN DATA: he average price of regular gasoline in Japan this week stood at Y143.1 ($1.87) per liter, or $7.11 per gallon, unchanged from last week after falling for three weeks in a row, data released by the Oil Information Center showed on Wednesday. The average retail price this week rose 4.4% from the Y137.1 [...]