FRANKFURT (MNI) – The European Central Bank on Tuesday allotted
E227.8650 billion in its main seven-day refinancing operation at a fixed
rate of 1.0%.
The ECB satisfied all of the 233 bids received.
Today’s operation resulted in a net addition of E34.395 billion
after the ECB allotted E193.470 billion in its 7-day MRO last week.
–Frankfurt bureau. Tel: +49-69-720-142. Email: email@example.com
EUR/CHF down at 1.2595 from early 1.2635.
Just reading UBS forex strategists say they are bearish the cross, focusing on 1.2439 ahead of 1.2283. They see resistance at 1.2714.
They also forecast a fall in USD/CHF. See break through support at .9463 potentially exposing .9202. The spot rate is presently down at .9511 from early .9551.
DAX up 0.2%, CAC 40 up 0.4%.
FRANCE DATA: Sep-Nov sa housing starts up 3.8% vs previous three months,
nsa +6.4% y/y
- Sep-Nov sa housing permits down 2.7% vs previous three months,
nsa +3.7% y/y
Compares to government’s 2010 debt target of 82.9% of GDP.
Almost a quarter fewer shoppers turned out to grab a bargain in the traditional Boxing Day retail sales compared with last year, a survey shows.
Roger Bootle in The Telegraph. Personally think he’s on the right track.
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