- France’s Hollande: Way out of the euro crisis is near. Worst over from euro crisis – Interview with Le Monde
- China Premier Wen: Confident of achieving full-year economic growth target – Xinhua
- Senior German official: Doesn’t expect any firm decisions on the future of the EMU at this week’s summit
- German EconMin: Govt raises 2012 economic growth to +0.8% from April’s +0.7%
- UK September jobless claims -4,000, slightly better than Reuter’s median forecast of flat. Ilo jobless falls by 50,000 in 3 months to August. Rate 7.9%, better than Reuter’s median forecast of 8.1%
- Bank of England minutes: Voted 9-0 to keep rates on hold and asset purchases unchanged at £375 bln at October meeting
- Swiss October ZEW investor sentiment -28.9, decent improvement from -34.9 in September
- Japan chief cabinet sec Fujimura: PM instructed ministers to compile economic measures
- Japan EconMin Maehara: Economic stimulus won’t rely on fiscal measures
- Europe needs a Soros Salvation Army – AEP at The Telegraph
- China transforms to slower but better quality growth says Goldman Sachs executive - Xinhua News
- Want a job at Goldman Sachs? - The Independent
The euro has been consolidating recent gains, in what has been quite frankly turgid forex trade.
Euro zone periphery govt bond yields have come lower, led by Spanish yields, and this has helped underpin the single currency.
EUR/USD up at 1.3120 from early 1.3090. EUR/JPY up at 103.25 from around 102.95.
Cable up at 1.6160 from early 1.6120, EUR/GBP steady around .8115. Cable got a lift from the better than expected September jobs report (see above)
USD/JPY effectively unchanged at 78.70. Buy orders seen clustered 78.40/50, sell stops below there. Sell orders clustered up at 78.90/00 ahead of touted 79.00 barrier option interest. Buy stops gathering above there.
