If haircut on private sector Greek debt is not enough, public holders of debt will have to participate in renegotiation EUR/USD trades lower on comments, now at 1.2980. Infamous US investment house seen notable sller in lastest leg lower.

55 day MA in EUR/JPY comes in at 101.71. Could be significant with a couple of closes above it. High today has been 101.88 200 day MA in AUD/JPY is at 81.54 which was broken overnight in Asia after the AUD CPI data.  A close above here would be 1st since Oct 2011, and a couple [...]

– Adds Results for Sectors Jan MNI analysts survey Dec Nov median range ———————————————————————— Business sentiment: 108.3 107.6 106.2 – 108.4 107.3 106.7 Current conditions 116.3 116.8 98.0 – 117.7 116.7 116.7 Six-month outlook: 100.9 99.3 98.0 – 115.0 98.6 97.6 – FRANKFURT (MNI) – Optimism among German businesses grew for the third consecutive month [...]

LONDON (MNI) – The fall in GDP in Q4 was “relatively minor”, the UK’s Chief Statistician Joe Grice said Wednesday. In a press conference following the release of preliminary GDP data, Grice said that there were no special factors behind the latest fall in growth. GDP fell 0.2% on the quarter in Q4 and was [...]

– Adds Results for Sectors Jan MNI analysts survey Dec Nov median range ———————————————————————— Business sentiment: 108.3 107.6 106.2 – 108.4 107.3 106.7 Current conditions 116.3 116.8 98.0 – 117.7 116.7 116.7 Six-month outlook: 100.9 99.3 98.0 – 115.0 98.6 97.6 – FRANKFURT (MNI) – Optimism among German businesses grew for the third consecutive month [...]

Just been sent headline by contact rather than reading it off newswire, so not sure what newswire the story comes from. But it’s out there. UPDATE: Apparently story in Greek press overnight and picked up in FT. I’m now totally confused, but the headline hasn’t helped EUR/USD any. Seems like old news to me, but there we [...]

Been told there is about $800 mio on offer at 78.10 on the EBS interbank matching machine … May sound a lot… it is… but in USD/JPY terms this could be easily taken out. We have touched the level briefly but USD’s sitting back at 78.06 for now

–Q4 Preliminary GDP -0.2% q/q; +0.8% y/y LONDON (MNI) – Economic output fell by more than expected in the fourth quarter increasing the likelihood that the UK will fall back into recession, figures from National Statistics revealed Wednesday. The data, along with dovish comments from Bank of England Governor King yesterday, are likely to fuel [...]

LONDON (MNI) – Bank of England Monetary Policy Committee members voted unanimously at their January meeting to keep policy unchanged, but the minutes highlighted divisions over the inflation outlook and the likelihood of more quantitative easing. The nine to zero vote at the January meeting in favour of unchanged policy had been widely expected, but [...]

UK DATA: Q4 Preliminary GDP -0.2% q/q; +0.8% y/y –Below median of -0.1% q/q; +0.8% y/y ———————————————————————— Economic output fell by more than expected in Q4 increasing the likelihood that the UK will fall back into recession. The data, along with dovish comments from Bank of England Governor King yesterday, are likely to fuel speculation [...]

As expected. Some MPC members thought further expansion of QE was likely to be required Some saw risk that spare capacity greater than assumed in November inflation report Others saw risks to inflation more finely balanced, less clear that inflation would fall below target Considerable downside risks from global economy, most serious near-term risks moderated UK [...]

From Q3′s  flat m/m, +0.6 y/y Slightly worse than expected but market already pre-empted the news  with a 50 pip drop, … cable little changed on the intial reaction Now hearing bids are placed down at 1.5520/35 from the same guys who sold up in the 1.5620′s in Asia earlier.  

Jan MNI analysts survey Dec Nov median range ———————————————————————— Business sentiment: 108.3 107.6 106.2 – 108.4 107.3 106.7 Current conditions 116.3 116.8 98.0 – 117.7 116.7 116.7 Six-month outlook: 100.9 99.3 98.0 – 115.0 98.6 97.6 – FRANKFURT (MNI) – Optimism among German businesses grew for the third consecutive month in January, overshooting most forecasts [...]

I deem the experiment on EUR/USD carried out by ForexLive “a success” Love the song, I’m gonna take every opportunity I get to play it

ITALY DATA: November retail sales fell 0.3% m/m in SA nominal terms on a drop in both food and non-food sales, posting the ninth m/m decline over a 12-month period. In y/y terms, retails sales fell 1.8%, down from -1.4% in October. The three month-moving average contracted 0.5% in the months from September to November, [...]

The move through 78.00 knocked out some buy stops to 78.08. there are more reportedly up at 78.30 ahead of a bigger hurdle which is the 200 day MA at 78.35.  , last broken in April 2011 EUR/JPY’s broken up through the 55 day MA at 101.71  as a result , triggering some stops buys [...]

Better than Reuters’ median forecast of 107.5. EUR/USD hits 1.3050, presently at 1.3042. The experiment was a success. I’m done for the day UPDATE:   European corporate selling seen around 1.3050 I’m being told by reliable source.

Well kinda important, let’s not go overboard. 09:00 GMT: Ifo German business climate index for January expected 107.5 from 107.2.

Swiss company Roche  are making a hostile bid of $5.7 bln  for US company Illumina INC, whioch is weakening the swiss franc this morning .. The move  is being more reflected in the EUR/CHF cross with a jump to 1.2109 just now . USD/CHF is holding steady around 0.9285 On the orders i haven’t heard much so [...]

Sits at 77.95, effectively unchanged on the day. US custodial buying being seen in recent trade, although they haven’t really managed to budge it as yet.