- Nobel economics laureate Pissarides: Doesn’t expect any countries to leave euro
- ECB’s Weidmann: Buba ready to grant new IMF loans with conditions
- Italy PM Monti: EU summit decisions on firewall significant, but fell short of Italian expectations (oh dear)
- IMF spokeswoman confirms funds’ officials to visit Rome next week. After surveillance agreed at Cannes summit
- UK November claimant count +3k, better than median forecast +13k. Claimant count rate 5%, better than median forecast 5.1%
- Euro zone October industrial output -0.1% m/m, +1.3% y/y, weaker than Reuters’ median forecasts of flat, +2.1% respectively
- Swiss December ZEW investor sentiment -72.0, down from -64.3 in October
- Italian auction results
- Finnish government survives confidence vote
- SNB’s Hildebrand to meet Swiss govt December 16
- ECB’s Knot: Expects European leaders will solve debt crisis as long as financial rescue fund is increased – Magazine
- ECB’s Bini Smaghi: Need improved financial regulation
- ECB’s Mersch: Welcomes “fundamental reforms” being made in EU
- UK living standards second highest in Europe in 2010, EU says
- Euro bonds would destroy euro zone – Ex ECB economist Otmar Issing
EUR/USD down at 1.2980 from early 1.3030, the euro bears finally managing to blow up the large 1.3000 barrier option interest. Came in very late morning trade, the majority of the session tedious in the extreme.
We had a couple of half-hearted rally attempts, first reached 1.3050, second 1,3063. Model funds and infamous US investment house notable sellers into the rally attempts.
Small barrier interest now seen at 1.2975, larger down at 1.2950.
Cable marginally firmer at 1.5495 from early 1.5480 in slowish trade. Slightly better than expected UK jobs report lent modicum of support. EUR/GBP down at .8375 from early .8415, well-noted dnt interest at 8400 having been breeched and important support at .8389 pierced. Close below said level seen as very bearish for the cross.
USD/JPY touch firmer at 78.05 from early 77.95.
