- Swiss Social Democrat Party calls on SNB to raise cap on EUR/CHF – Tages Anzeiger
- Belgian 2012 budget rejected by European Commission – De Morgen
- ECB’s Noyer: Euro is strong. No doubt it will continue to exist
- IMF’s Lagarde: IMF to revise global growth forecast “downward” Does not think “2012 will be end of the euro currency” (thanks for ringing endorsement)
- ECB buys Italian bonds
- UK Halifax house price index -0.9% m/m, -1.3% y/y, weaker than Reuters’ median forecasts of +0.2%, -0.8% respectively
- Euro zone December business climate -0.31 vs revised -0.42 in November (prev -0.44), better than median forecast -0.50
- Euro zone November retail sales -0.8% m/m, -2.5% y/y, much weaker than Reuters’ median forecasts -0.2%, -0.8% respectively
- Euro zone November unemployment unchanged at 10.3%, as expected
- German November industrial orders -4.8% m/m, much weaker than Reuters’ median poll of -1.7%
- Portugal PM: We will meet bailout targets in 2012, create conditions for growth
- Here we go again: US $25 million away from debt ceiling breach – Zerohedge
I’ve just got a feeling in my water that the market is waiting for something, but can’t work out what.
Narrow ranges have prevailed this morning. EUR/USD sits at 1.2785, hardly changed on the day. The pairing rallied early and edged slowly over 1.2800.
ForexLive then reported sell orders clustered up at 1.2810/20. We got to 1.2812 session high and that was that and down we slowly drifted. Who’s better than us? Answer: Absolutely no one
Light stops seen above 1.2820. On downside buy orders clustered 1.2750/60 ahead of 1.2750 barrier interest.
Hopefully whatever the market’s waiting for will soon break us out of this current malaise.
