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- Another lift for the euro..
- Japan’s PM Noda: Must prevent euro problems spreading to other financial systems
- Greek PM Papandreou to chair emergency Cabinet meeting at 1000GMT
- Euro bounces to 1.3711
- Spanish Oct Unemployment up 3.2% m/m
- AUD/USD still under pressure…
- EUR/USD hits a new day’s low and approaching stops
- Eurostoxx futures off -2.7%
- French Europe Minister Leonetti: Euro can survive without Greece
- Greek ruling party lawmaker says PM Papandreou must withdraw referendum plan
- Eurogroup’s Juncker: Cannot say that Greece must stay in euro zone at any price – German TV
- It’s a funny old world…..
- European stocks seen opening sharply lower
- BNP Paribas says Q3 net profit 541 mln
- Greek FinMin: Greece’s participation in the euro cannot depend on a referendum
- Italy’s ‘shock’ therapy as eurozone manufacturing buckles
- ForexLive Asian market wrap: Greek referendum set for December 4th/5th
- AUD/USD update
- Coverage interference over the next week
- NFP tipping
| Posted: Talk of ECB buying Italian 10yr BTP’s via the Securities Market Program giving the EUR/USD a push into some tech resistance in the 1.3730′s. Some offers likely towards the asian highs of 1.3756 with more tech resistance towards 1.3775    |
| Japan’s PM Noda: Must prevent euro problems spreading to other financial systems Posted: Measures agreed at the EU summit must be steadily implemented Industrialized nations pulling out of emerging economies would be a global loss Need to find a balance between financial system strengthening and effects on real economy  |
| Greek PM Papandreou to chair emergency Cabinet meeting at 1000GMT Posted: Possibly to suggest a vow of silence ahead of the confidence vote on Friday…? It’s all getting rather silly and most are in half a mind to be indecisive.  |
| Posted: Hearing mutterings of sovereign buying towards the recent lows which is protecting the 1.3650 stops, but also talk of fund and macro offers lying in wait above 1.3700. Some tech intraday resistance seen towards 1.3730 and 1.3775  |
| Spanish Oct Unemployment up 3.2% m/m Posted: up by 134,182 to 4.36mln  |
| Posted: Support at 1.0200/05 so far holding up in Europe this morning, but appears to be bearing the brunt of the risk aversion today. A break down here points down to the Oct 21 lows around 1.0145/50, but may see some sovereign and CTA buying interest under 1.0210 which was reported in Asia. The 50 and 55 [...]  |
| EUR/USD hits a new day’s low and approaching stops Posted: Just been down to 1.3657 as concerns over the Greek crisis continue to fester. Talk of some dip buying softening the fall from German names. Sell stops are now touted on a break of 1.3650 We’re presently at 1.3659  |
| Posted: DAX futures down -2.8%, CAC 40 futures down -2.6%. EUR/USD down at 1.3675. Here we go again……. Just a case of trying to work out when those pesky sovereigns (especially Middle Eastern ones) gonna turn up on the bid. But that won’t be my problem to solve. I’m done for the day and will hand [...]  |
| French Europe Minister Leonetti: Euro can survive without Greece Posted: Reuters reporting. Looks like it might have to  |
| Greek ruling party lawmaker says PM Papandreou must withdraw referendum plan Posted: Don’t hold ya breath…… But he sure is under a lot of pressure.  |
| Eurogroup’s Juncker: Cannot say that Greece must stay in euro zone at any price – German TV Posted: We are working on how to make sure euro zone members are not damaged if Greece were to leave euro  |
| Posted: I see the Chinese vice FinMin came out and said it is too early to discuss EFSF investment amid Greek uncertainty. Told ya all that talk of a Chinese 700 bln investment was just so much bollox. One thing the Chinese ain’t is stoopid…….  |
| European stocks seen opening sharply lower Posted: Financial bookmakers see FTSE down as much as -1%, DAX down as much as -1.7%, CAC 40 down as much as -1.4%. Reuters reporting.  |
| BNP Paribas says Q3 net profit 541 mln Posted: Versus Reuters’ poll 991.9 mln Took 2.26 bln in provisions on Greek sovereign debt, or 60% of exposure Cut eurozone sovereign debt exposure in banking book by 20.7% in Q3 BNP CEO tells Reuters Insider: 60% Greece provision “adequate” for now Greece default would be “unpleasant” but manageable No plan to continue cutting sovereign debt [...]  |
| Greek FinMin: Greece’s participation in the euro cannot depend on a referendum Posted: He ain’t happy Mr Venizelos says “Greece’s position within the euro area is a historic conquest of the country that cannot be put in doubt. This achievement by the Greek people cannot depend on a referendum.” Reuters reporting.  |
| Italy’s ‘shock’ therapy as eurozone manufacturing buckles Posted: Love him or loathe him, latest from AEP at The Telegraph.  |
| ForexLive Asian market wrap: Greek referendum set for December 4th/5th Posted: EZ and IMF leaders met with Greek PM ahead of G20 summit Greek referendum is to be on continued EU membership and will probably happen on December 4th Next tranche of aid will not be delivered until this vote has been passed Early polls suggest that Greek voters want to stay in EU but don’t [...]  |
| Posted: Small Sovereign bids and profit-taking orders are supporting just ahead of 1.0200. Option players have been feverishly buying downside cover as they face 4 weeks of uncertainty and this is weighing very heavily on the AUD today as has selling by a few bigger momentum funds.  |
| Coverage interference over the next week Posted: As Jamie, Gerry and I are travelling to NY for next Thursday’s Forextravaganza, coverage particularly early during the Asian shift might be a bit ‘interuppted’ for the next week or so. Adam and Pete will be able to cover much of the time but we will have to plead for understanding at other times. I’m sure the [...]  |
| Posted: In case you missed it earlier, click on this link and put in your best guess  |
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