- German November Gfk consumer sentiment rises to 6.3 from upwardly revised 6.1 in October (prev 5.9), better than median forecast of 5.9 and highest read since October 2007
- French October consumer confidence falls to 84 from 85 in September, in line with Reuter’s median forecast
- Spanish Q3 unemployment rises to 25% from 24.6% in Q2, new record high
- Spain’s EconMin Latorre: Data shows jobs destruction slowing (tell that to the 25% unemployed)
- Swiss October KOF economic indicator falls slightly to 1.67 from 1.68 in September
- Italy October manufacturing business confidence fall to 87.6 from 88.3 in September, weaker than Reuter’s median forecast of 88.7
- Senior German coalition lawmaker: Berlin seeking extension of Greek program
- ECB’s Asmussen: OMT bond purchases won’t have inflationary consequences
- Pressure on BOJ to act mounts as deflation persists – Reuters
- BOJ said to mull downgrading economic assessment next meeting – Bloomberg
- Japan FinMin: Stable bond market is important for the economy
- Eurozone nears Japan-style trap as money and credit contract again - AEP at The Telegraph
The euro has seen some general weakness this morning, EUR/USD down at 1.2905 from early 1.2935 having been as low as 1.2903 after sell stops finally tripped through 1.2915 in a late morning swoon. Didn’t appear to be any new news driving the late losses (well not that I could find) Euro zone periphery govt bond yields have been tripping higher through the morning though, which wouldn’t have helped sentiment toward the single currency.
USD/JPY down at 79.85 from early 80.05, EUR/JPY down at 103.05 from around 103.55. US treasury yields have come lower, benchmark 10 year off at 1.7679% from early 1.8012%, which will have weighed on the USD/JPY pairing. Buy orders seen clustered 79.50/70, sell stops below there.
Cable pretty much unchanged at 1.6110, EUR/GBP down at .8005 from early .8025.
