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Eurozone credit contraction accelerates
Bank loans and the M3 money supply in the eurozone contracted at an accelerating pace in November, raising the risk that a lending squeeze will choke the region’s fragile recovery next year. Latest from AEP at The Telegraph,
Moderate earthquake near California/Mexico border
Magnitude 5.9, according to the US Geological Survey.
USD/JPY dips to 92.30 support
Those looking to jump on board the USD/JPY trade, buying dips toward 92.30 looks like a logical play with a tight stop, say around 92.15. Look for a continued rally toward 93.35 in the coming days.
US sells $32 bln 7-yr notes at 3.345%; bid-to-cover 2.72
Look for bond yields to dip now that the $118 bln in new notes have been placed with the market.
10-year notes are a 3.80%.
EUR/USD is at 1.4345 after a bomb scare in Times Square boosted EUR/USD on short-covering about and hour ago.
UPDATE: Times Square has been reopened.
Canada suspends parliament until March 3 budget speech
The future of the government will be in play over the next few months as Harper plans to present his budget in early March.
USD/CAD has been insanely volatile today (hasn’t everything?) but it trades quietly now at 1.0540/43.
Bomb scare shuts down Time Square
The dollar is weakening on reports of a bomb scare in Times Square. Markets are thin and ridiculous.
Cable wearing explosive underpants
That’s the explanation I got from one sage when I asked about the moon-shot in Cable. Sounds as plausible as anything else in a thin, next to year-end market.
1.6067 is next resistance, yesterday’s highs. If any stops are left, they will be just above there…
US Trade Commission slaps duties on Chinese pipe
Duties of 10.3 to 15.8% will be added to pipe used in oil drilling.
KC Fed index falls to 10 in Dec from 17 in Nov
A pretty sharp pullback in this regional Fed index…
EUR/USD is rallying at the fixing. Perhaps the market tried to front-run it and is now scrambling for cover. Markets are extremely thin…
Cable has launched into the stratosphere, back above 1.6000. Too ugly for words…
Market looking for EUR/USD buyers for fixing
Sell orders they have at the fixing. Now brokers are trying to match them up with buyers at the fixing. If they are unable. look for another wave of sales at the upcoming 16:00 GMT fixing.
Looks like traders ain’t waitin’ as EUR/USD drops to fresh session lows at 1.4277.
UPDATE: There are also USD/JPY buyers at the fixing as well, we hear with 5 minutes to go before 16:00…
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