Cable has put on about half a cent. presently at 1.5560. EUR/GBP is down at .8435 from early .8470, with stops through .8450 having finally been tripped. Market will have noted the WSJ article touting possibility of early UK rate hike.
Up at 09:30 GMT we’ve release of services PMI for December expected unchanged at 53.
El Pais reports that China’s Li says China to buy as much Spanish debt as it has of Greek and Portuguese combined. Cites Spanish government source as saying that commitment is for 6 bln.
ompared to median forecasts of -0.1%, +0.4% respectively.
Presently at .8453 from early .8470. Model funds said to be notable sellers.
Yesterday was hearing reports of stops through .8450. Guess they’ll still be there.
UK clearer noted buying EUR/USD down in 1.3135/40 area this morning, lending some tenuous support. We’re presently at 1.3150.
If well-touted option interest at 1.3125 does get taken out, then there is talk of further barrier interest at 1.3100.
Below there, talk of buy orders clustered 1.3080 down to 1.3050.
DAX futures +0.2%; CAC 40 futures +0.3%
EUR/USD sits at 1.3145, effectively unchanged from where we closed out Wednesday in North America, with Asian trade confined to an anemic 1.3131-1.3170 range. Much attention being given to barrier option at 1.3125 (knock-in) which is being defended, successfully so far. Guess they’ll be stops parked not too far below there. Will have to confirm such as morning progresses.
Euro zone data due today:
10:00 GMT: Euro zone business climate indicator for December expected 1.00 from previous 0.96; economic confidence 105.5 from previous 105.3; consumer confidence -9 from prevous -9.4; industrial confidence 1.9 from previous 0.9; services confidence 10.1 from previous 10.2
10:00 GMT: Euro zone retail sales for November expected +0.2% m/m, +2.1% y/y
11:00 GMT: German factory orders for November expected +0.9% m/m, +15.8% y/y
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