- Canadian housing starts rise 196.1k annualized rate in November from 204.1k in October
- Belgium cuts GDP forecast to 0-1.4% in 2013; 2012 GDP to fall 0.2%
- France’s Hollande: Italy will chose the best government
- Monti: Not considering running for PM at this time; market reaction to early departure should not be dramatized
- Multiple reports: BOJ to raises asset purchases another JPY 5-10 trln
- Italian shares fall 2.2%; France and Germany up 0.1-0.2%, respectively
- Eurogroup to hold conference call on Greece on Tuesday
- BOE’s King: Durable global recovery remains elusive
- NZ FinMin English: Kiwi exchange rate too high, grinding recovery ahead
- FT: Monti considering running for PM, being courted by centrists
Pretty much a non-event in the US today. EUR/USD and GBP/USD recovered ground lost overnight on the Monti announcement but stalled early in the day. EUR/USD continues to respect the 1.2880/1.2950 consolidation range it has been in since late Friday.
USD/JPY perked up in its range as sources told the wires that the BOJ will ease slightly at next week’s policy meeting, adding another JPY 5-10 trln to its QE program. 82.435 was the rebound high and we spent the balance of the session within 10-pips.
Short-covering in EUR/AUD kept AUD/USD under wraps for much of the U session. We dipped a slow as 1.0481 before stabilizing.