After -10.8% in October.  Don’t get any better

Unchanged from revised 10.4%  in November (prev 10.3%) As expected.

–Adds Cmments from Labor Agency Head in Third, Last Paragraphs SA Unemployment: -34k (pan-German), -19k (West), -15k (East) FRANKFURT (MNI) – The number of seasonally adjusted jobless in Germany declined much more than expected in January by 34,000 to 2.849 million, the Federal Labour Office reported on Tuesday. The seasonally adjusted jobless rate eased by [...]

December preliminary: 10.4% MNI survey median: 10.4% MNI survey range: 10.3% to 10.4% Previous: 10.4% Nov (10.3%), 10.3% Oct, 10.3% Sep, 10.2% Aug, 10.1% Jul PARIS (MNI) – The Eurozone unemployment rate stabilized in December at November’s record high of 10.4%, as the monthly increase slowed to weakest pace in eight months, according to seasonally [...]

UK DATA: Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad money supply data also showed record monthly falls, hit [...]

–Adds Detail To Version Transmitted At 0930 GMT London (MNI) – Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad [...]

We’re up at 100.65 after a fresh high of 100.73. There’s a bunch of offers ahead at 100.90/00 with tech resistance up at 101.15/20 (101.16 50 day MA) and 101.40 (55 day MA) USD/JPY’s doing very little slipping back after earlier rumours of possible potential intervention, but  going nowhere fast  and sitting around 76.25. Japanese [...]

–Says Move Brings End Of Too Big To Fail Within Reach –Says Macroprudential Tools Will Make System More Robust LONDON (MNI) – The G20 decision to move to a ‘Common Resolution Regime’ for Large Complex Financial Institutions marks a breakthrough on the “too-big-to-fail problem”, says Bank of England Deputy Governor Paul Tucker. In the chapter [...]

London (MNI) – Net consumer credit hit a record low in December and overseas holding of Gilts plunged, while mortgage approvals picked up, according to Bank of England data. The BOE figures showed net consumer credit fell by Stg377 million, the largest monthly fall on record. Broad money supply data also showed record monthly falls, [...]

Highest since Dec 2009  but less than expected 53,700 Dec mortgage lending +£0.7 bln vs +£0.6 bln in Nov (expected +£0.7bln) UK Dec consumer credit -£0.4bln (, expected +£0.4bln) vs +£0.4bln in Nov …. lowest since 1993 Not good numbers but cable supported by month end USD sales  

–Says Move Brings End Of Too Big To Fail Within Reach –Says Macroprudential Tools Will Make System More Robust LONDON (MNI) – The G20 decision to move to a ‘Common Resolution Regime’ for Large Complex Financial Institutions marks a breakthrough on the too-big-to-fail problem, says Bank of England Deputy Gov. Pauil Tucker. In the chapter [...]

Just chewed it’s way through offers in the 1.0650/70 area despite some sales from model accounts and  a sovereign name. Large offers lie ahead of a 1.0700 barrier with some reasonable buy stops above. Sean mentioned in Asia that there was talk of very large stops at 1.0750, 1.0770 and 1.0800. We’re sitting up at 1.0678 [...]

On back of better than expected German jobless data.  And don’t forget the touted month-end USD sales….. We’re at 1.3208 having been as high as 1.3213 so far.   Talk of sell orders clustered 1.3230 through 1.3250.

Versus revised 8.8% (prev 8.6%) in November.  Ughh!! Median forecast had called for 8.7%

SA Unemployment: -34k (pan-German), -19k (West), -15k (East) FRANKFURT (MNI) – The number of seasonally adjusted jobless in Germany declined much more than expected in January by 34,000 to 2.849 million, the Federal Labour Office reported on Tuesday. The seasonally adjusted jobless rate eased by 0.1 percentage point to 6.7%. The median forecast of an [...]

GERMANY DATA:JAN SA UNEMPLOYMENT -34K M/M VS MNI FCAST -12.5K –GERMANY Jan sa unemployment rate 6.7% vs Dec 6.8% –GERMANY Jan sa unemployment 2.849 Mln vs Dec 2.883 Mln –GERMANY Jan nsa unemployment rate 7.3% vs Dec 6.6% –GERMANY Jan nsa unemployment 3.082 Mln vs Dec 2.780 Mln –GERMANY Jan sa job vacancies +6k vs [...]

Jobless rate fell to 6.7% from previous 6.8%. Median forecasts had been looking for a fall of around 5k  and unchanged rate of 6.8%, so data better than expected. EUR/USD has soared a whole 12 pips on the news presently at 1.3192. I’ve got the hump. Where’s Joe!!!!

And today is Tuesday. See, I can state the obvious too…. ECB not involved in private sector discussions on Greece Expect Greece to stay in euro zone, but measures must be taken  

EUR/USD seeing choppy trade in relatively narrow range in early Europe. Sit presently at 1.3175. On the one hand we’ve had some crappy euro zone economic data (german retail sales/french consumer spending and Portuguese/German bond yield spreads widening out further. On the other, we’ve had talk of general month end USD sales and European stockmarket gains. [...]

– Should Not Rule Out ECB Taking Haircuts On Greek Bonds FRANKFURT (MNI) – The permanent European bailout fund, ESM, should be granted a banking licence enabling it to borrow in the European Central Bank’s refinancing operations, Austrian Chancellor Werner Faymann said in an interview with German magazine Der Spiegel. “If we manage to get [...]