- Greek government may be sworn in late today, tomorrow – New Democracy official
- Greek Democratic Left leader Kouvelis says his party will give vote of confidence in new government
- EU: No talks at G20 about use of ESM/EFSF for bond buying
- BOE minutes: Voted 5-4 to keep QE at £325 bln in June
- Spain’s Budget Minister: Spain has support of European, G20 partners
- BOJ’s Shirakawa: Japan’s economy starting to pick up moderately
- German May PPI -0.3% m/m, +2.1% y/y, slightly weaker than -0.2%, +2.3% median forecasts. Due to fall in energy prices
- Dutch June consumer confidence -40 pts, down from -38 pts in May
- Italian April industrial orders sa -1.9% m/m, down from +3.5% in March
- UK May claimant count rate +8,100, weaker than Reuter’s median forecast of -3,000
- Swiss ZEW investor sentiment -43.4 in June, sharp fall from -4 in May and demonstrably weaker than median forecast of -15
- Japan’s Upper House approves PM Noda’s nominees for BOJ board
- Australia’s economy expected to grind to a halt in H2 2012 – Sydney Morning Herald
- France’s new politics could force its debt off the fence – WSJ
- Time for Fed to twist and shout – WSJ
- G20 summit: Perils of a half-baked rescue for Spain and Italy – AEP at The Telegraph
Market ostensibly on hold, awaiting the outcome of the FOMC deliberations later today.
EUR/USD sits at 1.2690, hardly changed from the 1.2680 that greeted me first thing. We did see a fledgling rally which reached the dizzy heights of 1.2708.
BIS and ACB selling above 1.2700 helped ensure we weren’t going to go very far.
Cable effectively unchanged at 1.5730. We did see a swoon to the 1.5655 area in the wake of disappointing jobless claims (see above) but it was very short-lived. In fact blink and you missed it.
USD/JPY touch firmer at 78.95 from 78.85 first thing. Another lively session for the USD/JPY traders. Don’t know how they cope, really I don’t…….
