Quite a bit worse than Reuters median forecast of -10k. Unemployment rate 7.0%, up from 6.9% in September and worse than median forecast of 6.9%. Euro zone October final manufacturing PMI 47.1, down from 48.5 in September and slightly worse than median forecast of 47.3. The crap data isn’t affecting the single currency one little bit, [...]

Down sharply from 48.3 in September and demonstrably weaker than median forecast of 47.1. Lowest since June 2009. Meanwhile, French Oct final manufacturing PMI 48.5, slightly below initial read of 49.0.

– See Separate Tables For Details Of Individual Forecasts TOKYO (MNI) – Japan’s gross domestic product in July-September is expected to have posted the first rise in four quarters, up a real 1.5% q/q, or an annualized 5.8%, thanks to improvement in net exports and personal consumption, according to the median forecast of economists surveyed [...]

EFSF will hold a call with investors at 9.30 am, according to two people with knowledge of the sale. The fund said on 31st October it plans to sell 3 billion euros to help fund the rescue of Ireland. Headline more exciting than meat of the story. EUR/USD has drifted back a little, presently at [...]

EUR/USD has been as high as 1.3788, presently at 1.3780. Talk circulating that China is prepared to inject 700 bln euros into bailout fund.  Call me sceptical. UPDATE:  Thinking about it for a few minutes, change the sceptical bit. I think it’s complete bollox.

FRANCE DATA: October new car registrations up 2.8% y/y in both nominal and workday-adjusted terms - January-October registrations +0.4% y/y (nominal and workday-adjusted)

BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble reaffirmed in a newspaper interview published Wednesday that Greece will be supported by its Eurozone peers if it implements agreed consolidation and reform measures. “If Greece is willing to carry the burden … and stay in the Eurozone, then we will support it,” Schaeuble told German business [...]

We’re at 1.0400 from around 1.0355 when I sat my butt down. For those who like their technicals, the 200 dma comes in at 1.0410 and the 100 dma at 1.0433.  Ain’t that just something Joe tells me he thinks these moving averages will prove tough hurdles. Me?, I haven’t a bloody clue.  But then [...]

1.2125 is fairly important support for EUR/CHF.  I have absolutely no confirmation of this, but this leads me to deduce that they’ll be sell stops parked very close below said level.  I sound a bit like Sherlock Holmes, don’t I?  Don’t say you haven’t been warned.  We sit presently at 1.2160.

Reuters reporting comments made by German FinMin Schaeuble to Hamburger Abendblatt. The offical said “It would be helpful if clarity is achieved as soon as possible on which path Greece wants to take” adding “We assume that Greece is aware of its responsibility and will go along with the measures that were agreed together and [...]

Actually I’m telling a little fib, it was Joe “The Informer” Brown who squirrelled (is that spelt right?) the info out from sources.  Big drum roll………….Buy stops seen through 1.3780 in EUR/USD. He also says “decent” sell orders seen just infront of said stops, which I guess coincides with the stuff I heard ie sell [...]

– Sep +9k, Aug +1k, Jul +33k, Jun +48k, May +38k, Apr +54k, Mar +33k FRANKFURT (MNI) – Employment in Germany rose for the 19th straight month in September, reaching a new record high, while the jobless level continued to contract, the Federal Statistical Office reported on Wednesday. Taking into account downward revisions for both [...]

GERMANY DATA: September ILO sa employed 41.074 mln; +9k m/m: stats off. – Germany September ILO sa unemployed 2.44 mln; -30k m/m: stats office – Germany September ILO sa unemployment rate 5.8%; August 5.9% – See MNI MainWire for details

By Jack Duffy PARIS (MNI) – The European Central Bank is likely to leave its key interest rates unchanged on Thursday as Mario Draghi, its new president, attempts to achieve a smooth changing of the guard without throwing any surprises at financial markets. Although the European economy continues to tilt ominously toward recession, Draghi’s major [...]

Well it’s better than January. Elsewhere, eurostoxx 50 futures seen up +1.6%. DAX futures seen up +1.4% and CAC 40 futures seen up +1.7%. EUR/USD sits at 1.3735 in an extremely choppy start to European trade.

With European stocks set to open firmer, EUR/USD has caught a bit of a bid as European trading gets underway. We’re at 1.3745 having been as high as 1.3753. Talk of sell orders clustered up at 1.3760/70.  Will try and ascertain where buy stops lined up ASAP. Euro zone data due this morning: 08:45 GMT:  [...]

Irwin Stelzer in the WSJ.

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

According to Reuters, financial bookmakers see FTSE up around +0.7%, DAX up around +1.0%, CAC 40 up around +1.2%.

TOKYO (MNI) – The average price of regular gasoline in Japan this week stood at Y142.5 ($1.82) per liter, or $6.92 per gallon, unchanged from the previous week, after falling for the 11th straight week, data released by the Oil Information Center showed on Wednesday. The average price this week was up 7.7% from the [...]

UK pound is down against the US dollar today — but what high beta currency isn’t? With all of the uncertainty surrounding Greece, China and MFGlobal, it’s really no surprise that stocks are being routed, and the pound is following suit.

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US dollar is surging today in Forex trading, heading higher as financial markets retreat on the latest debacle in the Greek financial tragedy. In a surprise move, Greece has agreed to call a referendum on the rescue plan, and that has sparked global fears that Greece will just default.

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The Norway krone declined today after the Norway central bank announced its plans to purchase foreign currency, weakening the nation’s currency.(...)
Read the rest of Norway Krone Falls as Central Bank Intervenes (128 words)

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The Russian ruble fell today as the concerns about the global economic slowdown weakened crude oil — the main nation’s source of export revenue.(...)
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The euro extended its decline today as the fundamental data suggested the economy of the European Union worsened, spurring the speculation that the problems of the EU are too big to be resolved in the near future.(...)
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The Canadian dollar weakened today after stocks declined as traders speculated that the European leaders would experience problems on their way to drag the European Union out of crisis.(...)
Read the rest of Traders Feel Doubts About EU Rescue Plans, CAD Suffers (138 words)

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The Australian dollar fell today as Forex market participants anticipate an interest rate cut by the Reserve Bank of Australia tomorrow.(...)
Read the rest of Aussie Weakens Ahead of RBA Monetary Policy Decision (81 words)

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