Nov unemployment up to 20.9% from 18.2% in Oct Dec Industrial output -11.3% y/y from -7.8% in Nov Jan consumer inflation 2.3%y/y from 2.4% in Dec

Should be some support down around 1.3250 ahead of better at 1.3215/20. Low on that run down was 1.3265

That’s just knocked the wind out of the EUR/USD’s sails with a slump to 1.3274. I don ‘t understand why these guys say things like this, it’s not really a surprise to any of us is it really?

Love him or loathe him, latest from AEP at The Telegraph. “April is the inflexion point” Cue the jaws music

In protest against EU/IMF austerity measures. Bet you they don’t delay these………..

–Dec Global Goods Trade Deficit Stg7.111bn vs Stg8.908bn Nov –Dec Total Trade Deficit Stg1.109bn vs Stg2.830bn Nov LONDON (MNI) – The UK’s goods trade deficit narrowed unexpectedly in December, as imports fell sharply on the month, figures from National Statistics showed Thursday. The visible trade balance narrowed to Stg7.111 billion in December from Stg8.908 billion [...]

Not a lot to get excited about, but here goes… EUR/USD:  Sell stops down through 1.3270, offers 1.3320/30 ahead of 1.3334 (100 day MA) resistance and a barrier at 1.3350 GBP/USD: Offers 1.5855/65 and 1.5880/00, Bids 1.5790/00 EUR/GBP: Offers 0.8400/05 and 0.8420/25, Bids 0.8365/70, 0.8640/45 and larger at 0.8330 USD/JPY: Bids 77.00 down to 76.70, [...]

–Dec manufacturing output +1% m/m; +0.8% y/y –Dec industrial production +0.5% m/m; -3.3% y/y LONDON (MNI) – Manufacturing output bounced back sharply in December to rise at its fastest pace for 7 months, but overall the production sector will still hit GDP in Q4, figures from National Statistics showed Thursday. Manufacturing output was up 1% [...]

UK DATA: Dec manufacturing output +1% m/m; +0.8% y/y –Dec industrial production +0.5% m/m; -3.3% y/y ———————————————————————— Manufacturing output bounced back sharply in Dec to rise at its fastest pace for 7 months, but overall the production sector will hit GDP in Q4. Manufacturing output rose 1% m/m and 0.8% y/y, way above the median [...]

I’ll leave you in the immensely capable hands of Joe “The Informer” Brown. I’ll be back on Monday morning.  Got a feeling some fun and games coming down the pike between then and now.  Best of Luck!!

Lowest since Feb 2010 Dec Mfg output +1.0% m/m (exp +0.2%), +0.8% y/y Dec Industrial output +0.5%m/m (exp +0.2%), -3.3% y/y Better Trade deficit, but only adding a small boost to cable which is up around 10 pips to 1.5855 on the release  

15 days to find 300 million euros of cuts. Report in Greek newspaper.

To 339 bps from the 323 bps I jotted down first thing. Italy/German 10 year bond yield spread widens out to 370 bps from early 360 bps. EUR/USD has seen very choppy trade in early Europe, presently around 1.3295. BIS said to have sold above 1.3300, helping curtail the early rally. Talk of trailing sell stops gathering through [...]

Happy Dayz No plans for additional tax increases (not exactly what the economy needs right now)

FRANCE DATA: Manufacturing execs surveyed in January revised up their forecast for nominal investment spending this year to +7% vs +4% expected in October.

Chinese January passenger car sales down -23.8% y/y to 1.16 mln units, weaker than Bloomberg median forecast of 5 analysts of -18% y/y. Down -15.2% m/m. Data won’t exactly help soothe worries over a slowing Chinese economy.  

– See Separate Tables for Details TOKYO (MNI) – Economists have revised down their medium-term growth and inflation forecasts for Japan as the global slowdown and the strong yen are hurting exports, the latest monthly survey by the Cabinet Office’s Economic Planning Association released on Thursday showed. The association polled 42 economists and research institutions [...]

Better than median forecast of -22. As I won’t be here much longer this week,  probably a good time to mention the release of latest Swiss CPI data at 08:15 GMT Friday, expected -0.3% m/m, -0.8% y/y. Very very important data as the market looks for signs of accelerating deflationary pressures in the Alpine country.  Weaker [...]

–Repeats Item Transmitted At 1715 GMT Wednesday LONDON (MNI) – Several city economists who had been forecasting the Bank of England’s Monetary Policy Committee would approve Stg75 billion of further quantitative easing at its February meeting have raised the white flag in recent days and forecasts have coalesced around Stg50 billion in extra QE. Strikingly [...]

Even before European traders have had the chance to rub the sleep out of their eyes, the well-touted 1.3300 barrier interest is history. We’re presently at session high 1.3312.  Next hurdle for euro bulls will be 1.3334, the 100 dma. Have no confirmation yet of such, but would expect sell orders to be clustered ahead [...]