- China weighs 100 bln euros input into EFSF – FT Deutschland
- China vice FinMin: Beijing waiting for details on EFSF proposals before deciding
- German constitutional court halts use of special, smaller parliamentary committee on EFSF
- German FinMin: Bundestag is still fully able to act on EFSF despite court decision
- French September consumer spending -0.5% m/m, weaker than median forecast of flat
- Spanish Q3 unemployment rate 21.5%, up from Q2 20.9%, worse than median forecast of 20.9%. Total of 4.98 mln
- Swiss October KOF leading indicator 0.80 from 1.21 in September, weaker than median forecast of 1.0 (but spot on market rumour which circulated ahead of release)
- Italy’s Berlusconi: Alliance with Northern League sound, will last
- Italy Treasury says looking at ways to sell govt bonds directly to retail investors through online trading systems
- Europe’s rescue euphoria threatened as Portugal enters ‘Grecian vortex’ – AEP at The Telegraph
Not much one can say after this morning’s non-event. Forex market seemingly in consolidation mode after yesterdays’ fireworks.
EUR/USD down marginally at 1.4150 from early 1.4170, having been as low 1.4140 as European stocks gave up early gains. Talk of buy orders now clustered down at 1.4100/20, sell stops below there.
Sell orders clustered 1.4195/00, 1.4215/25 and 1.4250/60, buy stops above there.
USD/JPY effectively unchanged at 75.85. Buy orders seen clustered 75.65 down to 75.50 where barrier option interest is touted. Sell stops seen through 75.40 before more barriers at 75.25 and 75.00. Sell orders seen clusteed up at 76.00/10.
Cable up at 1.6095 from early 1.6075. Talk of buy orders now clustered 1.6085/95 and more down at 1.6040/55.
