- Dutch FinMin De Jager to meet with Germany, Finland in Berlin Friday to discus Greece. Greece must commit to reforms in writing or won’t get aid
- Germany sees ‘no new bazooka’ in debt crisis, Merkel ally says – Bloomberg
- Greek private sector labour union GSEE calls 24 hour strike for December 1
- Greek PM Papademos: Eurobonds or similar tools can provide means to overcome crisis
- ECB’s Weidmann: ECB independence is only legitimised if core mandate focuses on delivering price stability
- Iraq oil minister: Expects OPEC December meeting to cut output
- Goldman explain what the Super Committee failure means – Zerohedge
- Swiss October trade balance +2150 mln
- UK October PNSB 3.396 bln vs Reuters mediabn forecast of 3.75 bln
- PBOC advisor: Should let yuan more flexible, but not fully convertible
- Austerity for 10 years as no ‘quick fix’ for Britain, Reform says
Risk on morning, well a little bit. European stocks, oil, gold all up. yada yada yada you know the gig. Personally I’ve had the morning from hell what with our stop-start technology issues. But then I guess no one gives a toss.
EUR/USD up at 1.3545 from early 1.3485, having been as high as 1.3568. Asian and Middle Eastern sovereign buying seen from the get go. Middle Eastern sovereign buying however proved more persistent. Heard they were still buying as high as 1.3530/40 area.
Early reports had sell orders lined up all the way from 1.3540 to 1.3580, so maybe it’s not surprising we haven’t gone even higher.
Cable up at 1.5650 from early 1.5630. EUR/GBP up at .8650 from early .8625. The BIG German was a notable buyer of the cross this morning and we got as high as .8659.
AUD/USD up at .9885 from early .9855 against the risk on backdrop. Early reports had “large” sell orders lined up in the .9900/10 area and we topped out at .9898. Buy stops said to be gathering through .9920.
USD/CAD down marginally at 1.0370 from early 1.0385. Bank of Korea interesting seller this morning.
USD/JPY tad easier at 76.85 from early 77.00.
