- ESM chief Regling: Spanish bond yields have fallen, so Spain is not currently disposed to seeking a bailout – Die Zeit
- Slovakia’s FinMin Kazimir: Spain’s reactions appear sufficient, no signals sent from Spain it needs international aid. There’s a perception that Spain’s situation is improving (really?)
- Bank of Spain chief economist: Sees Spanish current account balanced next year
- ECB’s Noyer: Stand ready to intervene in markets under bond-buying programme, will do what ever it takes for success
- More Noyer: Growth to recover ‘very gradually’ in eurozone in 2013
- Greek labour unions to stage anti-austerity strike on October 18 – Union official
- SNB’s Jordan: Franc cap is the right policy for the foreseeable future
- German FinMin source: Sees IMF forecasts as ‘quite justified’
- UK economy is out of double-dip recession, says NIESR - The Telegraph
- Fitch: US fiscal cliff, EU crisis, potential China hard landing major risks to global economy
- ECB’s Constancio: Europe’s progress on integration, ECB’s OMT should offer encouragement for world economy. Key message is that Europe now has rules to deal with sovereign debt crisis
- French August industrial output rises +1.5% m/m, much better than Reuter’s median forecast of -0.2%
- Italy August industry output +1.7% m/m, much better than Reuter’s median forecast of -0.4%
- Greek August industrial output +2.5% y/y, up strongly from revised -4.9% y/y in July. First positive reading in 3 years
- Goldman sees aussie trade of the century
Major spots and crosses showing no real change this morning in very lacklustre trade.
EUR/USD effectively unchanged at 1.2860. We saw an early rally which reached session high 1.2879 before petering out. BIS seen selling up in 1.2875/80 area.
Talk of sell stops now through 1.2820 (1.2822 200 dma) and more through 1.2800. Trailing buy stops seen through 1.2885.
USD/JPY effectively unchanged at 78.25.
Cable also effectively unchanged at 1.5995.
