Sold Eur 5.025 bln of new 5yr benchmark 1.75% Feb 2017 BTAN, yield 1.93 %, cover 1.99 Sold Eur 2.090 bln of  3% July 2014 BTAN, yield 0.89 % (vs 1.05), cover 2.361 (vs 2.12) Sold Eur 1.335 bln of 2.5% Jan 2015 BTAN, yield 1.09 % , cover 3.303 Again not a bad auction, but no reaction [...]

LONDON (MNI) – UK car manufacturing surged in January, rising 15.6% on a year ago and hitting a 16 month high, according to the Society of Motor Manufacturers and Traders. Production for the domestic market grew faster than production for the export market, rising 31.6% on the year compared with 12.9% for export production. The [...]

Sold  Eur 2.268bln of  3yr benchmark  4% July 2015 Bono,  yield 3.332% (vs 2.861%)  , cover 2.2 (vs 1.6) Sold Eur 733 mln of  4.4% January 2015 obligacion, yield 2.966 (vs 4.984%) %,  cover 4.4 (vs 2.4) Sold Eur 1.073 bln of 4.3% October 2019 obligacion, yield 4.832% (5.352%),  cover 3.3 (vs 2.1) Better yields and cover and a [...]

UK DATA: UK Jan car production up 15.6% y/y: SMMT – UK Jan car production at 16 month high: SMMT

USD/JPY’s  making some more progress this morning after being pinned back in Asia by a big round of cross sales. We’ve closed 2 consecutive days above the 200 day MA at 78.04  and so there’s cause for a little bit of optimism now for run up towards 80.00. Model buyers and Japanese importers have been [...]

–Adds Details On Repo Rate At Bottom PARIS (MNI) – Sweden’s central bank, the Riksbank, said Thursday it cut its repo rate by 25 basis points to 1.5% because the outlook for the Swedish economy has weakened. The decision on the rate cut was split, with Deputy Governors Karolina Ekholm and Lars Svensson arguing for [...]

Sees… Eurozone 2013 HICP inflation at 1.7% from 1.8% in Q4  

PARIS (MNI) – Sweden’s central bank, the Riksbank, said Thursday it cut its repo rate by 25 basis points to 1.5% because the outlook for the Swedish economy has weakened. The decision on the rate cut was split, with Deputy Governors Karolina Ekholm and Lars Svensson arguing for rate cut to 1.25%. “Sluggish growth in [...]

We’re at 1.2995 from session low 1.2983, ACB buyer turning up at lows. Stops through 1.2980 before 1.2950 barrier interest. I’m now handing over to Joe while I sort my tech issues.

LONDON (MNI) – The Dutch State Treasury Agency (DSTA) said the order book for its inaugural five-year dollar bond is “building smoothly” and is close to $2.0 billion. The DSTA opened the order book for its new 5-year dollar bond earlier Thursday at a spread guidance of mid-swaps +9 basis points to +12 basis points. [...]

TOKYO (MNI) – The Japanese government on Thursday left its overall assessment unchanged in its monthly report for February, saying the economy is picking up, while revising up its view on personal consumption. The government maintained its assessments of exports and production after downgrading them last month, as the drag from the supply chain breakdown [...]

Presently at 1.3005. Just been told the Big German notable seller in recent trade. Sell stops remain through 1.2990. UPDATE:  Being told more stops through 1.2980 before barrier interest at 1.2950.

And I want to break something..,,,,,, Apparently rally in USD/JPY, up at 78.65 from 78.40 when I sat down, was largely driven by Japanese importer buying.

HELSINKI (MNI) – There are signs of economic improvement in the euro area recently, European Central Bank Governing Council member Erkki Liikanen said Thursday. Speaking at a leadership forum, the Bank of Finland head said that “indicators confirm a slight upturn in the Eurozone economy in the past weeks” and observed that stock markets had [...]

Can never have too many euro zone auctions is what I say…. Spain taps 3-year benchmark 4.00% July 2015 bono, 4.40% January 2015 obligacion and 4.30% October 2019 obligacion. Indicative size 3-4 bln Results due around 09:40 GMT France to sell new 5 year benchmark 1.75% February 2017 BTAN issue and tap its 3.00% July [...]

– See Separate Table For Details TOKYO (MNI) – Combined sales at Japanese department stores in January are forecast to be weaker than in December, possibly showing the first drop in two months, a survey of major store chains by Market News International showed. The Japan Department Stores Association will release January data at 1430 [...]

BERLIN (MNI) – Some Eurozone countries are considering giving Greece a bridge loan to repay E14.5 billion of bonds in March in case the second Greek aid package hasn’t been agreed by then, German daily Die Welt reported Thursday, citing sources. According to the newspaper, some Eurozone countries want to await the outcome of the [...]

Bloomberg headline.  De Jager is ofcourse the Dutch Finance Minister. Dagblad somesort of publication I guess. EUR/USD having triggered 1.3000 barrier interest is presently touch firmer at 1.3015.

– Figures Include Registrations From Cyprus FRANKFURT (MNI) – New car registrations came to 758,115 in the Eurozone in January, down nearly 10% on the year, the Association of European Automobile Builders (ACEA) reported on Thursday. Economic fundamentals are not favourable for the car industry. Consumers’ purchasing power is being undermined by costly food and [...]

Doesn’t make up for the Arsenal loss, but it’s a start EUR/USD at 1.2997. Eurostoxx 50 futures down -1.2%  early.  DAX futures  down -1.5%.  CAC 40 futures down -1.1%. Personally I don’t give a monkeys where we go from here. Got what I wanted