No need for more budget measures Measures in place give room for manoeuvre  

Morning all,  not a great deal about ahead of the Greek decision tonight, but here goes EUR/USD: Offers 1.3240/50 and tech resistance at 1.3280/85 ahead of the 1.3308 100 day MA.  Sell stops down through 1.3180 ahead of bids at  1.3135/40 (would fill the weekend gap). Large option expiries today  at 1.3200. USD/JPY: Sell stops down [...]

Fantastic.  Let’s hope he’s right. EUR/USD rallies to 1.3225.

LONDON (MNI) – Gross mortgage lending fell 14.1% on the month in January but was up 10.2% on a year ago, according to Council of Mortgage Lenders data. As the CML figures are not seasonally adjusted it said the monthly fall in January was not unexpected. The 10.2% rise on the year, however, only show [...]

ITALY DATA: Dec industrial orders rose 5.5% in seasonally-adjusted m/m terms as a result of increased domestic and foreign orders. It was the steepest gain since march 2011, ISTAT said. On the year, unadjusted industrial orders fell 4.3%, down from -0.7% y/y in November. –Dec seas. adjusted m/m domestic orders +5.8%; foreign orders +5.1% m/m [...]

China’s VP Xi Jinping, in a speech in Dublin last night, said his country is considering more support for Europe. The official said “We are considering more involvement in helping address the European debt issue through EFSF,  ESM and other channels” adding “China supports the European integration process, the euro, by purchasing European bonds, importing [...]

Unadjusted -4.3% y/y Dec sales sa +3.4%m/m from +0.1$  in Nov Workday adjusted +5.6% y/y Improvement, with increases in domestic and foreign orders with the largest gain since March 2011

USD/JPY at 79.37 from 79.50 when I parked my bum. Model funds seen selling. Apparently trailing sell stops noted through 79.30. I can’t imagine they’re overly heavy. On top-side,  sell orders clustered 79.90/00 ahead of 80.00 barrier option interest.  

BERLIN (MNI) – German Chancellor Angela Merkel’s center-right CDU/CSU-FDP government coalition on Sunday agreed with the center-left opposition parties to jointly nominate former East German human rights activist Joachim Gauck to become the country’s next president. Gauck is not a member of a political party. The role of the German president is mainly ceremonial. On [...]

FRANCE DATA: February mfg sentiment 92 vs January 92 (91) –France manufacturiing morale matches median forecast in MNI survey –Execs’ own-company outlook -2 vs January -5 (-6) –Sector production outlook -27 vs January -36 (-37)

From revised 92 in January and in line with median forecast.

Could be a looooong morning.

Greek bailout will “likely” get final approval in the week starting March 12, according to statement on Finnish Finance Ministry website. “The final approval for activating the EFSF guarantees and completing the PSI operation are conditional on the Troika and the eurogroup deeming the PSI as successful and Greece to have fulfilled its commitments” adding [...]

Oh no, what a way to start the new week…..

TOKYO (MNI) – Department store sales in Japan were hit by record snowfalls in some regions in January, slipping 1.1% on year and giving up a 0.8% rise in December, data released by the Japan Department Stores Association showed on Monday. The association said the January decrease was caused by heavy snowfalls that hampered shopping [...]

JAPAN DATA: The Bank of Japan says its January real export index rose a seasonally adjusted 0.2% m/m to 116.5 (100 for the 2005 base year), posting the second consecutive monthly gain, after +1.1% in December and -2.7% in November. The January reading was the highest since 118.2 in October. Meanwhile, the BOJ’s real import [...]

How I miss good old Danny……

TOKYO (MNI) – Bank of Japan Governor Masaaki Shirakawa on Monday renewed his pledge to maintain the BOJ’s monetary easing while also repeating that the bank’s new explicit 1% inflation goal is similar in nature to the Federal Reserve’s own 2% price target. There is no gap between the government and the BOJ in forecasting [...]

See conditions filled for 2nd Greek aid deal by Monday Greeks must see that aid program in own interests Italy, Spain have made great progress under new govts USD to stay most important reserve currency for foreseeable future  Dow Jones reporting

I think we kinda already knew that.