- Merkel: Euro stands for European unity
- Merkel: Markets concerned about investing in Europe
- Merkel: Wants Greece to remain in eurozone, all do. “Heart bleeds” to see Greek hardship in crisis
- Merkel: Germany’s strength is not unlimited
- 49% of Germans believe their lives would be “somewhat” or “much better” if the EU didn’t exist
- ECB’s Constancio: Interest rates are appropriate for now
- ECB’s Bonnici: Monetary policy is very accomodative
- Shanghai composite index ends down -2.5%
- BIS Quarterly Review: September 2012
- Australia’s Ferguson says commodity price boom has ended – Bloomberg
- The end of China’s easy growth – AEP at The Telegraph
- U.S. to file W.T.O case against China over cars - New York Times
- Netanyahu: Iran on brink of nuclear bomb in 6-7 months - Reuters
Single currency consolidating recent gains. It’s Monday so we didn’t expect too much in the way of fireworks and our expectations were met.
EUR/USD down marginally at 1.3115 from early 1.3135. We dipped lower as European stocks opened lower and euro zone periphery bond yields backed up.
Reports had buy orders clustered 1.3080/90 and we got as low as 1.3092 before rebounding. Sell stops said to lie through 1.3075.
Cable up 10 pips at 1.6237. Talk of barrier option interest up at 1.6275.
USD/JPY effectively unchanged at 78.35.
