- ECB suspends application of minimum credit rating threshold in collateral eligibility requirements. Suspension will be maintained until further notice
- China Vice FinMin: China to “fine-tune” monetary policies
- India April PMI 57.2, down from 57.8 in March
- German FinMin: Doesn’t expect Greece will need any further help beyond aid agreed at weekend
- Swiss April PMI rises to 65.9 from 65.5 in March, better than median forecast of 64.0
- Euro zone April manufacturing PMI (final) 57.6, up marginally from flash 57.5 and vs 56.6 in March. 46-month high
- Austrian FinMin: Euro FinMins agreed informally to ask banks to keep Greek exposure at current levels
- Portugal buys back EUR 1.0 bln of May 2010 bonds in reverse auction
European trade pretty much a washout. EUR/USD very marginally firmer, up at 1.3235 from early 1.3220, but price action has been rather easily contained by buy orders at 1.3200/10 and sell orders at 1.3250/60. Stops said to be gathered just below and just above said orders. Talk BIS bought around the session lows.
Cable at 1.5250 effectively unchanged. Had a brief dip in thinned out market but soon recovered.
USD/JPY has tacked on about 15 points, presently at 94.10. Talk buy orders down at 93.50/70, sell orders 94.60/80. Buy/sell stops gathered either side of said orders.
