- Market News sourced story: There is little chance Spain will seek ESM aid this year and ECB apparently not keen to launch OMT bond buying programme
- Spanish 10 year govt bond yield rises, up 12 bps at 5.82%
- German FinMin: Weak global economy stifles ability to solve euro zone crisis
- Spanish auction results
- Bad loans at Italy’s banks rose 15.3% in September – Bank of Italy
- Greek Pasok lawmaker Androulakis leaves party. To sit as independent
- French Budget Minister: France maintains 0.8% growth target for 2013
- French FinMin: ECB is doing what is needed to protect euro. Lauds Draghi’s commitment to protect euro
- China PBOC governor Zhou: Economy showing signs of improvement
- Swiss unadj jobless rate at 2.9% in October, as expected. Seasonally adjusted 3.0%, also as expected
- German September s.a trade surplus 17.0 bln, slightly above Reuter’s median forecast of 16.8 bln
- Bank of Indonesia leaves reference rate unchanged at 5.75%
Precious little net change in major spots and crosses when all said and done as market awaits BOE, ECB rate decisions and Draghi press conference.
EUR/USD down marginally at 1.2735 from early 1.275o. Early reports had sell orders clustered up at 1.2780/00 but they were never seriously threatened. We did have a cumbersome rally attempt early, but it was stopped in its’ tracks by the Market News sourced story (see above). Horrible Italian bank bad loan data also weighed. The sell-off got as far as 1.2719 before steadying.
USD/JPY unchanged at 79.85 in comatose trade. EUR/JPY marginally lower at 101.70 from early 101.85 having been as low as 101.60. US investment bank seen selling the cross this morning.
Cable touch lower at 1.5950 from early 1.5975.
