Less than expected -0.4%, but minimal reaction so far with EUR/USD up around 5 pips

Unadjusted exports  rise 9% y/y imports rise 1% y/y Dec sa exports up 0.1% m/m, imports down 0.9% m/m Better than median forecast of 6.9 bln.

All i’ve heard this morning is heavy selling from around 0700GMT from funds, Real money, US and Swiss names. That was from around 1.0745/50, and barring a small dip to  1.0732, we’ve just gone the other way.  I’m putting it down to strong cross demand elsewhere, particularly in AUD/JPY which has seen some  pretty aggressive [...]

LONDON (MNI) – Claimant count unemployment rose at its fastest pace for four months in January taking the level to its highest for two years, figures from National Statistics showed Wednesday. The claimant count rose 6,900 on the month between December and January, following an upwardly revised increase of 1,900 in the previous month. This [...]

ILO jobless at 2.671 mln in 3mth to Dec Jan claimant count  +6,900 (exp +3000) unemployment rate 5% Weekly earnings +2% y/y (exp +1.8%) in 3 mth to Dec

Market’s looking at a number of around 8.4/8.5% for the ILO unemployment, and we’ve got the inflation report to follow.  

Following planned elections to be held in April. You’re not the only one Wolfgang…

Bout bloody time….

Morning all Just seen a “drive- by” in the cross running up to the 0900 fix in London to 0.8394 from the 0.8370′s Been told by my favourite UK clearer that it was another  clearer  behind the move, but stout resistance remains up around the 0.8400/10 area for now, and judging by this morning lack of [...]

ITALY DATA: Preliminary 4Q10 GDP -0.7% Q/Q, -0.5% Y/Y, contracting for the second consecutive quarter and plunging Italy into recession as a result of negative contribution to growth from industry, substantially stable services and positive agriculture sectors, ISTAT said. –3Q GDP was revised at -0.2% Q/Q and +0.3% y/y (Vs -0.2%, +0.2%). –Full-year 2011 work-day [...]

ITALY DATA: Italy preliminary 4Q real sa wda GDP -0.7% q/q, -0.5% y/y.

China’s economy faces downward pressure Reiterates China to follow prudent monetary policy China to increase yuan two-way flexibility China to increase monitoring of private lending, property China to increase monitoring of local government financing To use interest rates to adjust demand for funds China potential growth rate is easing China will see net funds inflow [...]

Weaker than median forecasts of -0.5%, -0.3% respectively.

Reuters reporting. Iran says will reply on Wednesday to EU foreign policy chief’s letter regarding nuclear programme

–Adds Comments From Full Interview Text on Inflation, Greek EMU Exit –First Ran On Mainwire At 1941 GMT/1441 ET Tuesday FRANKFURT (MNI) – Central banks may not simply forget about part of the Greek government’s obligations towards them in order to make a private sector debt reduction deal possible, European Central Bank Governing Council member [...]

If Eurogroup approves Greek aid on Monday, bond exchange could start immediately and be completed in time Direct ECB contribution to 2nd Greek package not possible ECB to pass any bond purchase profits to national central banks and states can use them for Greek aid Greek default or euro exit would have incalculable risks for [...]

Dutch economy is officially in recession  – CBS

LONDON ((MNI) – The Bank Of England said Wednesday it was offering an unlimited supply of U.S. dollars in a 7-day operation. The settlement date on the 7-day op was Feb 16 maturing Feb 23 2012. The Bank said the repo would be at a fixed-rate, with the rate to be set at 0.63%. The [...]

Just joshing with ya

Fingers crossed I don’t think I could stomach another false dawn