- Spain’s PM to announce important financial sector measures on Friday
- Spanish govt source: Measures to be announced on Friday by Spanish govt to include creation of 10-15 year “bad bank”
- Greek president to meet conservative leader Samaras at 12:00 GMT Monday. To ask him to try and form a coalition government
- German govt spokesman: Good Franco-German relations will continue with Merkel, Hollande yer right!
- German March manufacturing orders +2.2% m/m, demonstrably stronger than Reuter’s median forecast of +0.5%. February’s data revised upward, to +0.6% from previous +0.3%
- Euro zone sentix index falls to -24.5 in May, down sharply from -14.7 in April and demonstrably weaker than Reuter’s median forecast of -15.7
- Japan FinMin: Ready to respond as needed on currencies
- German SPD leader Gabriel: Congratulates Hollande’s ‘great win’
- Spain March calendar-adjusted industrial output -7.5% y/y. demonstrably weaker than Reuter’s median forecast of -5.4%
- Swiss April CPI +0.1% m/m, -1.0% y/y, marginally weaker than Reuter’s median forecasts of +0.2%, -0.9% respectively
- Bundesbank: Sees ongoing tendency to share risks among euro-zone states
- Francois Hollande has ten weeks to avert a French bond crisis - AEP at The Telegraph
- Never mind Europe, worry about India - New York Times
Even the tumultuous events of the weekend couldn’t whip the European forex markets into much of a frenzy. Indeed it’s been extremely dull fare, the UK Bank Holiday taking its’ toll.
EUR/USD up at 1.3030 from early 1.2990, but it’s been a slow grind higher, with touted sell orders at 1.3030/50 so far proving a durable upside barrier. Talk of trailing buy stops through 1.3050.
On the downside, barrier option interest noted at 1.2950. Talk of buy orders clustered just ahead of said interest and sell stops just below. Also talk of decent-sized 1.3000 vanilla option expiries at today’s New York cut.
USD/JPY sits at 79.80, effectively unchanged on the day.
Cable has tacked on half a cent, presently up at 1.6170.
