Against expectations of +3 bln euro. Aug trade deficit revised to -4.4bln from -3.4bln Sep unadjusted exports +10%y/y, Imports +8% y/y  

Seasonally adjusted results: Sept preliminary: +E2.1 billion MNI survey median: -E1.6 billion MNI survey range: -E1.7 bln to +E1.0 bln August: -E1.2 bln (-E1.0 bln) July: -E3.1 bln (-E3.7 bln) June: -E2.7 bln (-E2.9 bln) May: -E1.2 bln (-E1.5 bln) April: -E2.5 bln (-E2.6 bln) — Non-seasonally adjusted results: Sept preliminary: +E2.9 billion August: -E4.4 [...]

3Q GDP flash: +0.2% q/q, +1.4% y/y MNI survey median: +0.2% q/q, +1.4% y/y MNI survey range: flat to +0.3% q/q 2Q GDP: +0.2% q/q, +1.6% y/y 1Q GDP: +0.8% q/q, +2.4% y/y 4Q GDP: +0.3% q/q, +1.9% y/y - PARIS (MNI) – Much as expected, Eurozone economic activity remained sluggish in 3Q, growing by [...]

EMU DATA: 3Q11 flash real GDP +0.2% q/q, +1.4% y/y –EMU 3Q flash GDP matches median fcasts –EMU 2Q real GDP unrevised +0.2% q/q, +1.6% y/y –For more information, please see MNI MainWire

EMU DATA: Sep sa trade balance +E2.1BN vs Aug rev -E1.2BN (-E1.0) –EMU 3Q sa trade balance -E0.7BN vs 2Q -E2.1BN –EMU Sep nsa trade balancE +E2.9BN vs Sep10 +E0.5BN –EMU Sep exports: sa -1.0% m/m, nsa +10.0% y/y –EMU Sep imports: sa -3.2% m/m, nsa +8.0% y/y –EMU 3Q sa exports +1.7% q/q; imports [...]

Current conditions 34.2 vs 38.4 (expected 33.0) ZEW Economists see Q1 2012 as possibly negative, but overall situation in Germany  relatively good in comparison to past recessions.

as expected, real Q2 unrevised +0.2% q/q, +1.6y/y

Sold 2.6 bln euros of 12 month bills. Down from 3.56 bln at last auction, cover ratio 2.13 against 2.30, yield 5.022% vs 3.608% Sold 557,9 mln euros of 18 month bills.  Down from 1.04bln at last, cover ratio 5.95 against 4.26, yield 5.159% vs 3.801%    

Is working with national regulators on resources through weekly phone calls EBA may manage but still very concerned about personnel resources Will of authorities to achieve harmonised rules in Europe is decreasing

–Oct CPI +0.1% m/m; +5.0% y/y vs Sep 5.2% y/y; below median –Oct core CPI +0.2% m/m; +3.4% y/y vs Sep 3.3% y/y; above median –Oct RPI unch. m/m; +5.4% y/y; Oct RPIX unch. m/m; +5.6% y/y LONDON (MNI) – Consumer price inflation eased for the first time in four months in October as a [...]

UK DATA: Oct CPI +0.1% m/m; +5.0% y/y vs Sep 5.2% y/y; below median –Oct core CPI +0.2% m/m; +3.4% y/y vs Sep 3.3% y/y; above median –Oct RPI unch. m/m; +5.4% y/y; Oct RPIX unch. m/m; +5.6% y/y ———————————————————————— Consumer prices rose 0.1% on the month in October causing inflation to fall to 5% [...]

Slightly worse than expected  and looks like the market prempted the news Core CPI  +0.2% m/m, +3.4% y/y, (Sep +3.3%) Oct RPI flat m/m, +5.45 y/y.  RPIX flat m/m, +5.6% y/y Cable finding bids at the lows and jumps back to 1.5855 UPDATE: Hearing an Asian Central Bank was the buyer off the recent lows

Heard  they begun selling around the 1.5890 level and now the  move’s gettting a head of steam up as stops are slammed through 1.5870, filling the earlier mentioned bids 1.5840/60. Low print was 1.5830.  Sharp EUR/GBP bounce off the lows of  0.8529 adding to the collapse. Cables 1.5849 with EUR/GBP at 0.8555

No respite despite some  M/E buying earlier along with reports of ECB buying Italian bonds Stops hit through 1.3570 and 1.3550 as EUR/USD feels the weight of  recent real money sellers. Just posted a day’s  low of 1.3543 on the matching machines  before a bounce to 1.3554    

calls from Citing comments from SNB themselves that the Swiss is grossly overvalued, and amid calls from companies and politicians for a peg hike  as inflation data deteriorates. Having said that don’t forget what SNB’s Jordan said earlier which was that he wouldn’t be swayed by pressure and that the decision would lie solely with [...]

Also hearing from a Swiss name that bids rest underneath at 1.3550/60 with sell stops placed on a break of 1.3550 UPDATE: now hearing of sell stops down through 1.3570 with real money the latest sellers

Swiss names have been the main buyers this morning, with the EUR/CHF up almost 40 pips since Europe opened. SNB Vice chairman’s comments that the SNB was prepared to take further action, but wouldn’t yield to pressure from external organizations, has helped underpin the cross and led to further speculaion that a hike in the [...]

vs Flash +3.0%y/y , pretty much as expected

FRANCE DATA: 3Q non-farm private payrolls flat q/q, +1.0% y/y - Below expected; MNI analysts survey median forecast +0.1% q/q - 7,400 net jobs created in 3Q after +33,300 in 2Q FRANCE DATA: 3Q monthly salaries +0.4% q/q, +2.3% y/y;2Q +2.2% y/y –3Q hourly wages +0.4% q/q, +2.2% y/y; 2Q +2.1% y/y

Just pushed the pair back down to 1.3588. Also hearing that an Asian central bank (don’t know which one) was on the offer at 1.3610 recently, but the name apparently a short term jobber Euro’s at 1.3597