AUTOREFRESH 
UK construction PMI 52.1 in August
Versus 54.1 in July. Much worse than median forecast of 53.2.
It’s all coming apart at the seams (that’s better) I tell ya!!! I packing my bags and moving to ……..Sweden!!!
“You can dance, you can jive having the time of your life
See that girl, watch that scene, diggin’ the dancing queen”
And up and down and up again….
EUR/USD back above 1.2800, presently at 1.2805. Getting reports system funds seen buying in recent trade. We’re not getting very far this morning, are we? Only another 4 hours to go before home time. 4 hours!!! 
No decision yet on Anglo Irish bank – Government source
- Govt still discussing either gradual wind-down or good bank/bad bank split with EC
EUR/GBP ticking higher; sell orders noted
Presently at 8310 from early .8280. Talk sell orders clustered up at .8330/50.
China won’t launch new stimulus but will be wary of exiting from current one – Govt researcher
- China has no need for big economic initiatives, credit growth ample
Swedish central bank raises key repo rate to 0.75% from 0.50%
As expected.
Swedish crown rises vs euro in wake of move. Guess selling of EUR/SEK will be weighing on EUR/USD which is down at 1.2785. EUR/SEK cross down around 9.3100 from 9.3321 just prior to rate increase announcement.
A brave new World in currencies?
WSJ’s The Source. Hey, they mention you lot in this article.
Swiss retail sales +4.8% y/y in July
Stronger than median forecast of 2.3% y/y.
EUR/USD slips back below 1.2800
With UK clearer seen selling it through the figure.
Moody’s has cut ERC Ireland Finance (parent of EIRCOM) to B3 from B2, negative outlook. Moody’s says downgrade reflects concerns about likelihood of covenant breach in next 12 months. Bad news for Ireland is seemingly never far from the surface.
USD/JPY very steady in early trade
Presently at 84.16, almost to the pip where it was when I sat down about 3 hours ago.
Not for the first time of late, getting reports Danish bank sitting on the bid. Very persistent. Weird.
Market Talk
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Citi analysts like EUR/CHFCitibank analysts (not the tech guys) say like EUR/CHF, noting the slide is overextended and that hedge...
EUR/USD sinking in range; Buyers were here earlier…Not a lot of buzz in the market this afternoon so it is tough to get much of a read on things at the...
Economics
Pending home sales rise 5.2%; Factory orders rise 0.1%June factory orders revised higher, to -0.6%. Yields are rising further and equities are firming as the...
Claims 472,000 from 478,000Also of note, non-farm productivity fell 1.8%. Perhaps business will have to start hiring again before...
ForexLive European Wrap: Not much going on. GBP has poor morning, CHF good oneSweden’s Riksbank raises key repo rate to 0.75% from 0.5% French Q2 ILO jobless rate falls to...
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