Down from flash 47.2 and down from 48.8 in September. Lowest read since July 2009. Composite PMI 46.5, down from flash 47.2 and down from 49.1 in September.  Lowest read since June 2009.

Demonstrably lower than flash read of 52.1, but still up from 49.7 in September. EUR/USD sits back at 1.3800 after slight dip on crappy euro zone PMI data.

Ughhh. Demonstrably lower than flash read of 46.0 and way lower than Septembers’ 51.5. Lowest read in 31 months.

US commits to timely near term measures to sustain economic recovery Brazil, China, Germany agree to let automatic fiscal stabilisers work and support domestic demand Emerging market economies in surplus pledge to move towards domestic-led growth G20 commits “To move more rapidly towards more market determined exchange rate systems” G20 welcomes “China’s determination to increase [...]

Down from 45.8 in September and below median forecast of 45.0. Lowest read since June 2009.

LONDON (MNI) – The G20 Communique is still being drafted with difficult talks ahead and negotiations taking place over enhanced funding for the International Monetary Fund, Chancellor of the Exchequer George Osborne said Friday. Osborne told BBC Radio that unlike other G20 summits, the ongoing Cannes summit has no “pre-cooked” agreement and difficult political negotiations [...]

LONDON (MNI) – Some of the plans being discussed by Eurozone leaders to fight the current debt crisis may need “treaty amendment,” European Commission President Jose Manuel Barroso said Friday. In an interview with BBC radio, Barroso also said there were some areas in which plans could be enacted without amending current treaties. “Some of [...]

Sits presently at 1.3815, within three pips of where it was when I sat down. Hedge fund (plural) buying noted on the recent dip below 1.3800. On the downside talk of buy orders clustered 1.3785 down to 1.3770.  I’d hazard a guess some light sell stops just below there, but no real confirmation of such as [...]

Well if you’re long. We’re up at 1.2210 from early 1.2150.  That 1.2125 support I mentioned the other day has provided amazingly robust support…….

Bloomberg reporting. EFSF leverage plan won’t be done at Monday meeting There have been so many meetings and so many plans lately, I have no idea half the time what these officials are talking about. UPDATE:   Oh yer I remember now. I gotta go make my first cuppa of the day. Desperately need a caffiene [...]

On subdued earnings outlook.

How fiscally responsible. Dow Jones reporting. EUR/USD off to very slow start. Presently at 1.3828,  very maginally firmer from when I sat down. Talk of sell orders clustered 1.3845/55, stops above.

– See Separate Table For Details Of Individual Forecasts TOKYO (MNI) – Japan’s core private-sector machinery orders appear to have posted the first month-on-month fall in two months in September, down by a seasonally adjusted 7.5% after +11.0% in August and -8.2% in July, according to the median forecast of economists surveyed by Market News [...]

Reuters reporting. EU Commission and IMF will each report on how Italy is meeting targets Precautionary credit line not seen to be credible option for Italy

Financial bookmakers see European stocks opening modestly higher; FTSE up around +0.3%, DAX up around +0.5% and CAC 40 up around +0.3%.

Alen Mattich in the WSJ.  Piece by Paolo Manassa interesting.

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

Risk assets broadly lower, commodity FX lagging RBA cuts growth and inflation forecasts Rio Tinto Chair: China visibly slowing but should remain resilient Chinese officials indicates continued inflation-fighting bias, slow growth BOC's Carney to be named FSB chair, Reuters US Treasury data shows Japan may have spent $50B in intervention Asian trading was a microcosm [...]

US DATA: Oct Monster Index rose 3 points to 151 vs 148 in Sep, and was up 11.0% from the index level of 136 in Oct 2010. Monster noted that some of the gain could be attributed to pre-holiday seasonal hiring. Retail hiring rose 7.6% from September and was up 26.2% year/year. See MNI main [...]

Chinese central bank advisor: That’s down from the 9.2% forecast for this year. Says China should maintain current policy (bias toward fighting inflation)