Oct Industrial orders revised to 1.5% m/m from 1.8%., and to 1.5% y/y from 1.6%

Greece’s  Conservative leader Samaras: Elections to be held  by April 8 latest Greece in unprecedented long-term depresssion Must reduce taxes and focus on reforms to speed up recovery Current measures are not working Greek deficit stuck at 10% of GDP

A large US hedge fund apparently.  Source notes they sold “a truckload of euros” We’re all the way down at 1.3000. UPDATE:  Seems order was executed by two UK clearers.  Hedge fund’s name rhymes with snore   No t-shirt prize for right guess though

Equal to 64.2% of GDP, also record high. UK Treasury: Debt total over 1 trillion shows “unsustainable level of spending” over past few years, critical to deal decisively with deficit.  (sure got that right me old china)

Sold Eur 1.4 bln   of 3month Letra, cover  4.3 (vs 2.9), yield 1.285% (vs 1.735%) Sold  Eur 1.11 bln of 6 month Letra, cover 6.9 (vs 4.1), yield 1.847%  (vs 2.435%) Strong auction with full take up, lower yields and strong cover  

–Dec PSNB-X Stg13.708 bn vs Stg15.912 bn in Dec 2010 LONDON (MNI) – Public Sector Net Borrowing rose by more than expected in December as net debt breached one trillion pounds for the first time ever, figures from National Statistics showed Tuesday. Public Sector Net Borrowing excluding financial interventions stood at Stg13.708 billion in December [...]

UK DATA: Dec PSNB-X Stg13.708 bn vs Stg15.912 bn in Dec 2010 ———————————————————————— Public Sector Net Borrowing rose by more than expected in December as net debt breached one trillion pounds for the first time ever. PSNB excluding financial interventions stood at Stg13.708 billion in Dec. down from Stg15.912 billion in Dec 2010, but above [...]

  UK Dec 2011 PSNB Ex fin sector £13.708 bln vs £15.912 bln in Dec 2010, against expected £14.9 bln (Reuters poll) Overall pretty much in line with expectations, with govt expected  to meet  its fiscal target of £127 bln  

The Dutch State Treasury Agency sold: Eur 0.495  bln of 1.75% January 2013 DSL,  yield 0.074 % Eur  1.340 bln of  3.75% January 2042 DSL ,  yield 2.690 %  

We’re at 1.3045 having been as high as 1.3062, so aforementioned stops through 1.3055 are toast. The 1.3080 line remains next technical resistance of note.  As such not surprising to hear buy stops through said level.  I guess there’ll be decent sell orders just ahead of level as well, given it’s seen by many as [...]

We’re just been  up  to a January high of  77.37 after some strong buying from fund accounts.  Buy stops lie in wait on a break of 77.40 . The move sparked a run up in EUR/JPY which has just tripped some buy stops through 100.50 to  100.72. More offers await a move towards 100.90/00 and a [...]

Not always the case I know, but not doing too shabbily lately. EUR/USD has caught fire, presently at 1.3048. Buy stops have been tripped in EUR/JPY through 100.50 helping momentum in EUR/USD.  Cross is up at 100.75.  More buy stops now noted through 101.00.

Up from 48.3 in December and much better than Reuter’s median forecast of 48.5. Services PMI 50.5, up from 48.8 in December and better than Reuter’s median forecast of 49.0. Manufacturing PMI 48.7, up from 46.9 in December and better than Reuter’s median forecast of 47.3.

Around 1.2995. We’re presently at 1.3000. Slightly conflicting reports now on downside stops (sell stops).  They’re either through 1.2985 or 1.2980.  Take you pick. What’s 5 pips between friends when all said and done

So here’s one. I know how much you love bank recommendations   Gives you something to take the piss out of when they’re wrong Morgan Stanley has gone long USD/CHF at .9280 with a stop at .9180, looking for .9770 topside. Good risk/reward!!! We sit presently at .9280.

Up from final 48.4 in December and better than Reuter’s median forecast of 49.0. First growth since September.  EUR/USD recovers to 1.3025, where we started out the day. Deep joy. I feel as though I’m covering the Asian session or maybe the North American afternoon Services PMI 54.5, up from final 52.4 in December and [...]

Difficult for Greece to agree bailout EUR/USD lower on comments, presently at 1.3012.  

From final 50.0 in December, 5 month high. Flash January services PMI rises to 51.7 from final 50.3 in December, some way better than Reuters’ median forecast of 50.4. Flash January manufacturing PMI slips to 48.5 from final 48.9 in December, slightly below Reuters’ median forecast of 49.0.

Yipeeeeeeeeeeeeeeee, can never have too many auctions is what I say First up, Dutch State Treasury Agency (DSTA) to conduct off-the-run auctions of 1.75% January 2013 DSL and 3.75% January 2042 DSL issues. Indicative size 1.5-2.5 bln Results due around 09:20 GMT Second up,  Spain’s Tesoro Publico to auction 3 and 6 month Letras. Will [...]

Effectively unchanged at 1.3020. Already getting reports of Middle Eastern buying in the pairing.  At least this morning they’re not driving it quickly higher.