Didn’t they do well. Good game, good game. Our none English readers might not know who Bruce Forsyth is.  Lucky them is all I’m sayin We’ve been as high as 1.3169 (Reuters) 1.3170 (EBS),  presently at 1.3160.

–Jan Retail Sales +0.9% m/m; +2.0% y/y; median -0.4% m/m; +0.4% y/y –Jan Retail Sales ex auto fuel +1.2% m/m; +1.9% y/y; median -0.4; 0.0 LONDON (MNI) – Retail sales posted the strongest monthly increase for nine months in January, suggesting the sector is performing well in spite of gloomy survey data and negative media [...]

UK DATA: Jan Retail Sales +0.9% m/m; +2.0% y/y; median -0.4% m/m;0.4% yy –Jan Retail Sales ex auto fuel +1.2% m/m; +1.9% y/y; median -0.4; 0.0 ———————————————————————— Retail sales rocketed 0.9% m/m in Jan, confounding expectations for a fall. Ex fuel the rise was an even stronger 1.2%. The figures add to other recent economic [...]

Against expectations of -0.4 % m/m and  +0.5 % y/y Cable’s just spiked to 1.5846 on the much stronger release and taken out stops through 1.5830 in the process. Strong offers ahead of 1.5850 have so far halted the rally

Bibi

Bundesbank worried ECB bond swap could worsen investor mistrust Concerned about possible lawsuits from bond swap Worried investors may fear similar bond swap in Portugal Dow Jones reporting. EUR/USD back up at 1.3139 in dull trading.  

morning all… Cable’s not doing a heck of a lot this morning, but is looking fairly perky ahead of the retails sales. Bids sit at 1.5790/95 , ahead of tech support  at 1.5746 (21 day MA). Buy stops are reported up through 1.5830 and offers sit above at 1.5840/50 and  1.5880/85 We’re at  1.5817

Glasgow Rangers administrators were delighted to hear that an Italian billionaire has agreed to bail out the club. They’re just working out how to break it to the fans that it’s the Pope…….

EMU DATA: EMU DEC DIRECT+PORTFOLIO INFLOW E3.2BN; NOV OUTFLOW E6.5BN

I wondered why we weren’t a little lower. Presently at 1.3125.  ACB and hedge fund  buyers also seen around same level. Sean overnight mentioned sell orders clustered up at 1.3160/70. Buy orders seen clustered 1.3100/10, stops below there.

EUR/USD sits at 1.3130, unchanged on the day.

Bloomberg headline. Merkel’s Christian Social Union ally may block Greek rescue package in Germany’s Lower House of Parliament on February 27 should Greece fail to honor its debt reduction commitments, party chairman Seehofer told Spiegel magazine.

IMF apparently told European Finance Ministers on February 15 conference call that it won’t support second Greek rescue package unless country’s debt sustainability is guaranteed. Story cites unidentified IMF official. I CAN’T TAKE IT ANYMORE. PLEASE MAKE IT STOP!!!!  

FRANKFURT (MNI) – The People’s Bank of China bought a billion euros in Spanish government debt, according to Spanish daily Expansion on Friday. The newspaper reported that the State Administration of Foreign Exchange (SAFE), the administrative agency that manages state foreign exchange reserves, made the purchase and the major buyer of 10-year bonds issued by [...]

EUR/USD up 7 pips since I parked my bum, presently at 1.3137.  So what’ll we see first, 1.3050 or 1.3250? Reasoning cool, but not obligatory.    

– See Separate Table For Details Of Individual Forecasts TOKYO (MNI) – Japan is expected to have posted the biggest monthly trade deficit on record in January, with the gap expected to have ballooned out to Y1.440 trillion, according to the median forecast of economists surveyed by Market News International. If confirmed when the Ministry [...]

China domestic factors will dictate yuan’s path Significant reforms unlikely in last months of China Premier Wen’s tenure Chinese leaders’ priority is economic ‘stability’ Chinese leaders want to ‘keep their policy powder dry’ GREECE WILL EVENTUALLY EXIT EURO ZONE Europe’s problems hurting Chinese exports Dow Jones reporting Ex-IMF official, now at Brookings Institute, gave interview [...]

Spain is ‘immunized’ against Greek crisis

Stronger than median forecasts +0.3%, +3.1% respectively, if anyone really cares.

No difference of opinion with Merkel over Greece, but sometimes divergent opinions in German government