According to  a new poll in Die Welt  published today.

Nearly 2/3 of Germans say  their personal life would be better if they still had the Deutschemark. But in contrast French  (53%)and Polish (59%) interviewed thought their lives would be worse without the EU.

Something I saw posted on twitter earlier.

Did I really say that?

Glad market’s finally caught up with me

We’re at 1.3095.

Buy orders clustered 1.3080/90, sell stops through 1.3075.

Says Craig Stephen (Marketwatch)

Following Bernanke’s latest bout of QE last week, stocks  soared, but after the shift eastwards in global growth dynamics, perhaps we should all be more focused on the actions of the PBOC

More 

• Negative deposit rates not on the immediate agenda
• Bond buying plan contributed to calming of markets
• OMT not  a’ trick’ to avoid intervention
• Not possible to say that crisis is over
• Narrowing interest rate corridor ‘viable alternative’
• ECB reserves independence over move to buy bonds

MNI headlines

• ECB’s main interest rate is still appropriate
• Impact of further rate cuts “very limited”
• Have to wait and see on further rate cuts
• Timing of economic turning point tricky to pinpoint
• Negative deposit rate not really at top of agenda now
• May consider negative deposit rate in future
• Most recent ECB growth forecasts may be too pessimistic

Dow Jones reporting.

With the topside parameter of the last poll at 1.3125 having been reached Friday, it’s time for another.

We’re at 1.3120.

What’ll we see first 1.3020 or 1.3220?

Reason/s for choice appreciated, but not obligatory.

I reckon there might be trouble brewing in the Middle Kingdom 

Spanish 2 year notes up +9 bps at 3.23%

EUR/USD eases to 1.3119 at writing.

I thought given the plethora of negative geo-political news, that we might have dipped below 1.3100 by now.

Goes to show what I know

Oh dear

Deep-water reserves off the Irish coast could reduce Dublin’s budget deficit.

The ‘Porcupine basin’ of the SW coast was first discovered back in 1863 , but  last week ExxonMobil  signed an agreement to hire a deepwater rig costing £400k a day for 6 months next year to cut into the potential oil field.

More.…   UK Independent

FRANKFURT (MNI) – The European Central Bank should publish the
minutes of its monetary policy meetings so that “”so that all can follow
the discussions,” ECB Governing Council member Erkki Liikanen said in
an interview published Sunday.

“And not, as so far, only after 30 years,” Liikanen, who heads the
Bank of Finland, told German business daily Handelsblatt. “That is much
too late.”

Liikanen declined to comment when asked about a conflict between
fellow Council member and Bundesbank chief Jens Weidmann and the rest of
the Council, saying only that he had “great respect for the Bundesbank,
which was a model for all of us.”

He also said that he supported the ECB decision regarding the bond
buys and that, while he would have preferred unanimity on the Council,
“it is important that the ECB, under all circumstances, retain its
ability to act during the crisis.”

The Finnish central banker was also supportive of European
Commission President Jose Manuel Barroso’s proposal for a common
Eurozone bank supervisor to be at the ECB.

“We will delegate, delegate to national supervisors,” Liikanen
said. “But the rules must be the same for everyone.”

– Frankfurt bureau: +49 69 720 142; email: frankfurt@mni-news.com –

[TOPICS: MT$$$$,M$$CR$,M$X$$$,M$$EC$]

EUR/USD: Offers 1.3140/50, more 1.3160/70 (1.3169- 38.2% retracement of the May 2011- July 2012 fall and Friday's high) likely buy stops above ahead of more offers in front of a possible barrier at 1.3200. Bids 1.3100/10 and 1.3080/90, sell stops through 1.3075 ahead of more bids 1.3020/30

GBP/USD:  Bids 1.6215/25, 1.6185/95, larger down at 1.6145/55. Offers 1.6245/55, 1.6265/75 (barrier 1.6275) and  1.6290/00 (barrier?) buy stops above.

EUR/GBP: Bids 0.8070/75, and 0.8050/55, sell stops through 0.8050. Offers 0.8105/15 likely buy stops above (Friday high 0.8114) ahead of stronger tech res 0.8155/65 (June 15/10  highs) and 79.25/35 (200 day MA 79.31)

USD/JPY: Bids 78.00/10 (semi-official importers) some small sell stops below ahead of more bids 77.70/80.  Offers /tech res 78.50/70 (78.66 cloud base, 55 day MA 78.69) and 78.90/10 (100 day MA 79.07)

EUR/JPY: Bids 10250/60 and 102.00/10, sell stops below ahead of tech supp 200 day MA at 101.77. Offers 102.90/10 and 103.25/35 (May 14 high 103.31)

AUD/JPY:  Bids 82.20/30 and more bids /tech 81.850/95 (200 day MA 81.86, cloud top 81.93), more tech supp at 55 day MA- 81.72.  Offers 82.80/00 and 83.50/60.

EUR/CHF: Offers 1.2170/80, tech res 1.2195/00, possible buy stops above .Bids 1.2090/00 and 1.2140/50 and 1.2080/90

AUD/USD: Bids 1.0520 down to 1.0500. Sell stops below through 1.0495 ahead of real money bids  1.0450/70. Offers 1.0560/70 and 1.0590/00

EUR/AUD:  Offers 1.2490/00 (barrier talk 1.2500) buy stops above ahead of tech res 1.2520/30 (June 22 high 1.2528).  Bids  1.2425/35 and 1.2400/10, possible sell stops below

Financial bookies see FTSE, DAX and CAC 40 all opening down as much as -0.6%.

Opinion piece by Simon Johnson, chief economist at the IMF in 2007 and 2008.

Love him or loathe him, latest from AEP at The Telegraph

The Resources Minister for Australia has called for increased productivity in order to remain competitive, in an interview on Bloomberg TV today

"We have to accept that here on in it's going to be a lot of hard work to actually expand capacity rather than rely on increases in prices," Ferguson said.

More ….

International banking and financial market developments.

For the more cerebral of you

For the 1000NY/1400GMT cut

EUR/USD: 1.3000, 1.3050, 1.3110,, 1.3120

USD/JPY: 77.50, 77.65, 78.00, 78.65, 79.00

EUR/GBP: 0.7990

AUD/USD: 1.0550, 1.0600, 1.0650

‘Two thirds of Italians are undecided about whom to vote for in parliamentary elections due next Spring’

They ain’t happy