AUTOREFRESH 
FOREX NEWS | CURRENCY NEWS BY FOREXLIVE
A rather sparse order board after yesterday’s clearout..
GBP/USD- Tech support 1.5370/75, 1.5335/40. Offers 1.5485/05. Stops up through 1.5510
EUR/GBP- Tech support 0.8745/50, 0.8710. Offers 0.8790/00
USD/JPY- Bids 76.10, 75.90/95 and 75.10. Sell stops down through barriers at 75.75 and 75.50. Offers 76.40, 76.75 and 77.00 .
EUR/JPY – Tech support 102.70, 102.25. Offers 103.45/50, 103.70/80., 104.35/40
EUR/USD- Tech support 1.3455, 1.3385. Offers 1.3570, 1.3600 1.3650,
AUD/USD- Tech support 0.9745/50, 0.9690/95. Offers 0.9850, 0.9880/00
Germany has 5 trillion euros of hidden debt, Handelsblatt says
Story has been duly noted by the market and garnered little response.
EUR/USD hardly changed on day, very marginally firmer at 1.3522.
SNB quarterly bulletin: Will enforce franc cap with ‘utmost determination’
- Franc still ‘high’, should continue to weaken
- Cap will help fight risk of deflationary development
- Ready to buy currencies in ‘unlimited quantities’
- Swiss growth will ‘come to a halt’ in second half
European stocks off to good start……
FTSE up 1.2%, DAX up 1.2%. CAC 40 up 1.5%.
Stoxx Europe 600 banking index up 1.8%.
The question is can they hold, or even build on these early gains, or is this just going to be a dead cat bounce.
French consumer confidence falls to 80 in September
Weaker than median forecast of 84.
Manufacturing industry morale for September falls to 99, weaker than median forecast 102.
Happy dayz 
No matter, EUR/USD has ticked up to 1.3540.
Talk Bank of Korea may have sold at least $4 bln to support won Friday
Serious then…..
Head of French markets regulator: 15 to 20 banks in Europe need to be recapitalised
Didn’t we know that already?
- French banks (ofcourse) don’t need recapitalization
EUR/USD sits at 1.3503, effectively net unchanged in the past couple of hours I’ve been sitting infront of the screens.
Maybe it’ll be a quiet one 
Eurostoxx 50 futures up +0.4%
DAX up +0.2%, CAC 40 futures up +0.5%.
Seems those bookies were a little overly optimistic.
Gold off ten bucks since I sat down, as metals in general continue to get hammered…..
Greek FinMin told lawmakers sees three scenarios – Media
1) Messy default
2) Implementing July 21 deal
3) Orderly default with 50% haircuts for lenders
Says
- It would be “very dangerous” for Greece to ask for 50% haircut, would require “agreed and coordinated effort by many”
Dep Russian FinMin Storchak: Dollar remains the best available reserve currency
- Russia to decide on loan to Cyprus no earlier than end of year
- Russia still interested in investing in EFSF, but no need to force the process (yer, we got all the time in the world…)
Market Talk
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Economics
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