- G20 draft action plan
- Canada’s Flaherty: Need plan B in case Greece exits euro – Bloomberg TV
- Euro zone final October services PMI 46.4, down from flash 47.2 and down sharply from 48.8 in September. Lowest read since July 2009
- German September manufacturing orders -4.3% m/m, much worse than median forecast of -0.1%
- Euro zone September producer prices +0.3% m/m, +5.8% y/y, pretty much in line with median forecasts of +0.2%, +5.8% respectively
- Canadian October employment -54.0k, demonstrably weaker than median forecast of +12.2k. Unemployment rate rises to 7.3% from 7.1% in September, worse than median forecast of 7.1%
- ECB’s Teutonic Mario chills bond rescue hopes – AEP at The Telegraph
EUR/USD up at 1.3838 from early 1.3810, having been as high as 1.3855. Hedge fund buying has been notable this morning. At start of play sources reported sell orders clustered 1.3845/55 and they’ve capped the topside so far………just. Talk now of buy stops through both 1.3855 and 1.3860.
USD/JPY unchanged on the day at 78.00. If it moved, then I missed it.
Cable effectively unchanged at 1.6020. Dip to the 1.6000 area (1.5992 session low) ran into UK clearer and US custodial buying.
EUR/GBP touch firmer at .8635 from early .8623, but large US commercial bank capped rally at .8650.
USD/CAD up at 1.0190 from early 1.0115. Pretty grotty jobs report (see above) didn’t help loonie’s cause any.
USD/CHF up at .8825 from early .8800, EUR/CHF up at 1.2215 from around 1.2150. Much-mentioned 1.2125 support continues to provide a durable base. Still some mutterings of a possible move by SNB to raise 1.2000 peg/floor. Personally not convinced meself, but hey ho.
