LONDON (MNI) – The major British banking groups lending in 2011 to smaller companies missed the targets it agreed with the government, according Bank of England data published Monday. Gross lending facilities to small to medium sized enterprises amounted to Stg74.9 billion, just below the Stg76 billion agreed target. Total gross lending facilities exceeded the [...]

Feb inflation set to fall below 4%, perhaps to 3% According to an official at China’s National Development and Reform Commission

Due to weakening external demand (go figure) US treasuries to remain China fx investment choice (what, not eurozone periphery bonds?) EUR/USD sits at 1.3257 in increasingly comatose trade.

UK DATA: BOE data show Project Merlin lending again fails to meet UK lending targe to SMEst, with gross loan facilities at stg 18.9, up slightly on stg 18.8 bn in Q3

Morning all, not a great deal about but here goes…. EUR/USD: Offers 1.3280/00 , Opt expiry at 1.3300 (Eur 1 bln today, also Eur 500 mln tomorrow). Buy stops on a break of 1.3300 ahead of more  stronger offers 1.3325/30 (100 day MA is at 1.3327). Bids apparently at 1.3235/45 and 1.3200/10 GBP/USD: Offers  1.5840/50 [...]

Portuguese 10 year govt bond yield down 21 bps on day to 12.4% Spanish 10 year govt bond yield down 6 bps on day to 5.29% Italian 10 year govt bond yield down 9 bps on day at 5.53% EUR/USD sits close to session high, presently at 1.3278.  ACB buying seen in recent trade.  Buy [...]

BERLIN (MNI) – German Labor Minister Ursula von der Leyen has called for noticeable pay rises in this year’s wage rounds. In an interview with German weekly Bild am Sonntag (BamS) published Sunday, von der Leyen noted that unions had exercised wage restraint over recent years, thereby helping to overcome the crisis. “Now the success [...]

Marginally weaker than median forecasts +0.2%, -2.3% respectively.

Can never have too many European bank stocks is what I say EUR/USD sits at 1.3258.  Seany boy was on the money with the sell orders clustered 1.3265/80, as we topped out at 1.3275 on the first rally attempt. Talk of  EUR/USD buy stops now gathered through 1.3300. If we could keep price action confined between [...]

Yipeeeee Deutsche Finanzagentur planning to sell 4.0 bln of a new 6 month bubill maturing August 15 Results due soon after 10:30 GMT Italian Dipartimento Del Tesoro planning to sell 8.5 bln of a new 12 month BOT maturing February 14 2013 and 3.5 bln of a new flexi BOT maturing June 21 (4 months) [...]

Infrastructure, real industrial projects more ideal for CIC Germany’s Merkel asked CIC, other long-term investors to buy euro govt debt on recent China trip Doesn’t sound like she had alot of luck…….

Greek vote was step in right direction German parliament still needs Troika report before Greek vote

GERMANY DATA: January WPI +1.2 m/m, +3.0% y/y; December +3.0% y/y – Germany January WPI: solid fuels/oil products +2.3 m/m – Germany January WPI: ore/iron/steel/non-ferrous metals +0.5% m/m – Germany January WPI: grains/seeds/feed +4.1% m/m – Germany January WPI: fruits/vegetables/potatoes +2.6% m/m – Germany January WPI: data processing/communication +0.8% m/m – Germany January WPI: food/beverages/tobacco [...]

Not much of a pop in the single currency in the wake of the Greek yes vote on austerity measures, it has to be said.  EUR/USD  presently at 1.3238. Sean mentioned sell orders clustered up at 1.3265/80.  I’d hazard a guess trailing sell stops through 1.3200, but no confirmation of such as yet.

‘Spain’s biggest unions called for mass protests across the country on Feb 19 in response to labor-market changes the government announced this past Friday’

‘Britain is narrowly to avoid plunging back into recession, the Confederation of British Industry (CBI) has forecast – as it warned that the fate of the UK economy was tied to that of the eurozone.’

Financial bookies see European stocks firmer;  FTSE up as much as +0.6%,  DAX up as much as +0.8% and CAC 40 up as much as +0.7%.

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

If you’ve got any ideas you’d like to share with your fellow readers, then here’s where to stick ‘em.

Greek government got the necessary majority to pass the new austerity bill Civil unrest escalated in the run up to the vote Japan’s annualised GDP fell by more than expected, -2.3% Japan PM Noda: Does not intervene with specific FX levels in mind Australian owner occupied housing finance +2.3% MoM China to fine-tune economic policy [...]