There’s a cluster of offers sitting in the 1.5700/20 area which is pegging back the cable as it tries to track the EUR/USD. Cable’s sitting around 1.5703 I am also now hearing that a UK clearer is behind the run up in EUR/GBP from 0.8350 up to  0.8388

We’re knocking through the  102.00 level but there’s some strong resistance currently around  it.  There was unconfirmed reports of large stops  just above yesterday which may well still be valid today. Tech resistance is up at 102.30/35 with some reasonable offers up above there at 102.55/60 and more buy stops on a break of the higher level EUR/JPY’s at [...]

So Joe’s being told by very reliable source at major bank. Being given as reason for latest spurt higher in EUR/USD.  We’re at 1.3165. And there was me thinking it had gone up because Joe and I and our mates had called for 1.3225 before 1.3025 UPDATE:  It’s Greek newspaper Ethnos. Private sector creditors “will [...]

Reuters said 09:26 GMT:  Senior German official does not expect Troika reort on second Greek package to be ready by Monday EU summit Dow Jones have 09:27: Expect Troika report on Greece by Monday Kinda different hey what. Confused? You betcha.

We’ve been down to 1.0002 so far. (For what it worth i’m also hearing also that there are numerous bids surrounding the barrier from corporates through  0.9980 to 1.0005) That well know US investment Bank (Goldman Sachs) has  apparently issued a sell USD/CAD recommendation o/n  with a target of 0.9500 and a stop/loss up at [...]

Guess he means LTRO. Need further progress on Greece firewall Germany reacting to poor implementation in Greece Need more stringent Greek programme implementation Sceptical on tobin tax due to Swedish experience (me too)

 Therefore doesn’t expect Greece to play a major part in the summit Here come the first negative comments of the day….

Soffin bank fund only to be used as a last resort Jan 30 summit aims to boost EU competitiveness “Not yet over the worst” of the current crisis, which can only be tackled at its source

ITALY DATA: Istat Jan consumer confidence index 91.6, unch from December –Jan consumer future outlook lowest since 1996 –Jan consumer current climate 102.3 vs dec 98.4 –Jan consumer sentiment on econ 75.3 vs dec 77.1 –Jan consumer personal climate 97.9 vs 97.3 in December –Jan ‘good time to buy’ balance -88 vs -99 dec –Jan [...]

Presently at 1.3112. Just being told real money sold another clip on rally above 1.3120 just now.

Let’s have a ForexLive poll and help point everyone in the right direction We sit at 1.3115.  What’ll we see first 1.3025 or 1.3225?  Any reasoning behind choice  would be totally cool, but as usual not obligatory.

From 80 in December.

FRANCE DATA: 1Q mfg demand outlook weaker at -8 vs 4Q -6 –1Q mfg foreign demand outlook firmer at +2 vs 4Q -4 –January mfg capacity utilization 82% vs October at 83% –1Q sa mfg PPI seen flat q/q as in 4Q

FRANCE DATA: January consumer morale 81; December 80 – Above expected; MNI analysts survey median forecast 79 – Buying-propensity down three points – Future inflation worries down two points – Jobless fears down three points – See MNI MainWire for details

We’re at 1.3106 from around 1.3120 when I parked my bum. One source noted a real money seller in the 1.3110/15 area.  I’d like to tell ya where the stops are, but to be honest I just don’t know at the moment.

Dipartimento Del Tresoro to sell new 2 year zero coupon CTZ Indicative amount between 3.75 and 4.5 bln Also to tap linker bonds 2.15% September 2014 BTPei for between 250-500 mln Results due around 10: 15 GMT.

GERMANY DATA: GfK: February consumer morale seen at 5.9, January revised up to 5.7 from 5.6 – GfK consumer morale higher than forecast; MNI median: 5.6 – GfK: consumption to have stability role, prevent recession slide – See MNI MainWire for details

From revised 5.7 in January, better than Reuter’s median forecast of 5.6. Meanwhile euro stoxx 50 futures up +0.8%, DAX and CAC 4o up +0.7%. EUR/USD up 3 pips since I sat down.

Just reading a Reuter’s market piece and learnt that “Japanese exporters have set their euro rate at 105 yen, so many traders believe selling pressure will intensify ahead of that level.” OK we’re around 3 big figures away at the moment, but I  guess it’s something to tuck away in the back of one’s mind……….

Headline came out on Bloomberg a little while ago, at 05:30 GMT to be exact. AUD/USD trading around session high 1.0640. The above news has no doubt helped underpin the pairing.