- Italy’s centre-right party: Austerity has failed, tax cuts are what’s needed. Italy needs to boost growth, promote privatizations and asset sales
- Japan’s PM elect Abe: Tells BOJ’s Shirakawa he wants accord for 2% inflation
- Swedish central bank cuts repo rate 25 bps to 1.0%
- Germany considering cutting its 2013 growth forecast from 1.0% – Deputy EconMin tells Reuters
- Irish Q3 +0.2% q/q, +0.8% y/y, weaker that median forecasts +0.5%, +1.0% respectively
- Spanish bad loans 11.23% in October, up from 10.7% in September – Bank of Spain
- EU Commission: Spain should rein in pension-cost growth
- UK November CPI +0.2% m/m, +2.7% y/y, pretty much as expected
- UK November producer output prices -0.2% m/m, +2.2% y/y, weaker than median forecasts of +0.2%, +2.5% respectively
- Japan’s Shinzo Abe prepares to print money for the whole world – AEP at The Telegraph
- Abe shift on BOJ shows Volker moment may loom in Japan – Bloomberg
EUR/USD very marginally firmer, up at 1.3185 from early 1.3172 having been as high as 1.3190. BIS seen buying in low 1.3170s this morning. Buy orders clustered 1.3140/50, sell stops below there before more buy orders 1.3115/25. Sell orders clustered 1.3190/00 ahead of 1.3200 barrier option interest. Talk of buy stops through 1.3205.
USD/JPY marginally lower at 83.85 from early 84.00. Buy orders seen clustered 83.50/70, sell stops below there.
Cable hardly changed on day at 1.6205, earlier rally attempt fizzling out at 1.6226. Talk of ACB sell interest lying in wait circa 1.6230. Also talk of barrier option interest at 1.6250.
