Presently at 1.3155 after BIS bought around 1.3125. Presently back up at 1.3152.  That’s me pretty much me done for the day. I really can’t do more than I’m doing. All my critics can go KISS MY ARSE

Out of an indicative Eur 6.5-8.0 bln Sold  Eur 5.698 bln of 10 yr Benchmark 3% April 2022 OAT, yield 3.13 % , cover 1.71 Sold Eur 1.011 bln of 4.25% Oct 2018 OAT, yield 2.44%, cover 4.34 Sold Eur1.253 bln of 2.5% Oct 2020 OAT, yield 2.91%, cover 3.99

In line with expectations  

LONDON (MNI) – The UK construction sector expanded for the 13th consecutive month in January, but at a markedly slower pace than in December and employment was stagnant. The Markit/CIPS construction data showed that while there was only a modest rise in activity in January and growth in new orders slowed, the sector’s employers were [...]

Out of an indicative target of Eur 3.5-4.5 bln Sold Eur 2.52bln of 4% July 2015 Bono, yield 2.861% (vs 3.384 %), cover 1.63 (vs 1.797) Sold Eur 984 mln of 4.25%  Oct 2016 Bono, yield 3.455% (vs 4.021 %), cover 3.57 (vs 1.71) Sold Eur 1.05 bln of 3.8%  Jan 2017 obligacion, yield 3.565 %  , cover 2.70 Overall pretty good, [...]

Below Reuters forecast of 52.6. No real surprises and a relatively tiny part of the UK ‘s economy. Cable’s steady in the mid 1.5820′s

We’re at 1.3125 from 1.3122 low. Obviously a good morning for the boys from Basle. I make that about 55/60 pips in the bin….

Agence France Tresor selling new 10 year benchmark 3.00% April 2022 OAT issue and also tapping 4.25% Ocober 2018 OAT and 2.50% October 2020 OAT issues Indicative size 6.5-8.0 bln Results due soon after 10:00 GMT.  

Down through 100.00 just now to a low of 99.87. Being told some sizeable bids now in the 99.60/80 area ahead of  tech support at the 20day MA at 99.40 and large bids at 99.25. We’re at 99.90 now

EUR/AUD’s back in play again this morning with the pair heading down towards the January all time lows of 1.2228. We’re just off day’s lows of 1.2257 having been as high as 1.2302 in Asia overnight. AUD/USD’s got a few bids around 1.0690/00 and just filled some corporate ones on the way down through 1.0715/25. [...]

GERMANY DATA: Dec machine orders -10% y/y; November -12%; October +1%: VDMA – VDMA: December domestic machine orders flat y/y; foreign orders -14% – VDMA: October-December total orders -7% y/y; domestic +1; foreign -11% – See MNI MainWire for details

We’re at 1.3140.  Talk buy orders clustered 1.3115/25, sell stops through 1.3115.  (sorry amended that slightly as info coming in) That’s enough for now.  I can’t keep this up, doing my head in.

Talk is they’re passing on higher quotes in EUR/USD.  We’re steadier at 1.3150.  

EUR/USD sits at 1.3142. If we eva get back above 1.3200 this titbit is maybe worth bearing in mind. Been told by good source “nasty” buy stops gathering through 1.3220 now. On the downside, talk of buy orders clustered down at 1.3115/25. UPDATE:   OK it’s not the Middle East boyos, but just told ACB bought [...]

Presently at 1.3148. What, no one want to take on the BIS/China combo? Real money also been seen selling in latest leg lower. UPDATE:   Model funds also seen selling.  We’re down at 1.3140. Where are the Middle East boyos when you need them

Same old, same old.  Yawn…..

We back down at 1.3170. Personally I hope they both get it round their necks

Yipeeeeeeeeeeeeeee, I’m soooo excited I just pee’d my pants…. Or maybe it’s just the general incontinence Spain’s Tesoro Publico taps the 4.00% 2015 Bono, 4.25% 2016 Bono and 3.8% 2017 Obligacion issues. Indicative target 3.5-4.5 bln.  Decent demand expected. Results due around 09:40 GMT. France also looking to raise some dosh. Details coming when I [...]

A few sticking points remain (shock horror, who wud have thunk it?)