- ECB buys only EUR 147 mln worth of bonds in latest week; total for program 76.5 bln
- US think tank sees major progress toward comprehensive European sovereign debt package which would roll-up weak banks, allow ECB to withdraw much of extraordinary liquidity and raise raises by Q3
- IMF’s Lipsky: Global growth seen a little slower than 2010’s 4.75%
- Dallas Fed index 117.3 in November from 116.4 in October
- Irish finance bill expected to pass this Saturday
- Goldman sees ECB hike not until Q4
- Spain releases details of caja restructuring plan
- Der Spiegel: Banks could be stuck with bill for Greek restructuring
- Suicide bomber kills 31, injures scores at Moscow airport
- US equities rise 0.6% to 1291; yields unch at 3.41%
- Gold closes at lowest since early November at $1334
It was all about the euro today. Hopes for higher ECB rates late this year along with a comprehensive support package for peripheral Euro zone countries sent EUR/USD soaring as high as 1.3686 before profit-taking and options protection ahead of 1.3700 barriers helped slow the advance. A steady grind as low as 1.3727 unfolded during the US afternoon before a modest bounce. We end around 1.3640.
USD/JPY slid to 82.30 on long liquidation as the dollar slumped across the board during the US morning, We recovered lost ground in the afternoon but filed to retake 82.55 which is now resistance.
EUR/GBP rallied above its 100-day moving average and tested downtrend resistance near 0.8555 before relenting in the afternoon. We close at 85.30.
AUD/USD jumped along with AUD/USD, absorbing considerable offers between 1.0005 and 1.0015m topping out at 1.0022 before slipping back to close at 0.9972.
