- SNB’s Hildebrand: Euro will still exist in 5-years time; SNB to do all it can to defend exchange rate target
- North Korean conducted missile test today: South Korean media
- Belgian consumer sentiment rises to -12 in December from -14 in November
- EU appoints France’s Coeure to managing board
- German foreign minister: UK is an indefensible EU partner
- ECB bought EUR 3.4 bln in debt least week; total 211 bln
- Draghi warns of continued contagion in new year as banks refinance; If France loses AAA will effect other ratings, EFSF a big question
- Spain’s Ranjoy calls for ECB to act as lender of last resort
- Portugal disbursed nearly EUR 3 bln loan tranche by IMF; total lending up to EUR 13.6 bln
- UK declines to contribute to EU’s loans to the IMF
- S&P and Moody’s both downgrade Spanish region of Valencia
- Japan may buy Chinese bonds: Nikkei
- PIG nations do not have to contribute to IMF loan: Greece
- Euro zone finance ministers agree to lend EUR 150 bln to IMF subject to parliamentary votes in some countries
- US equities fall; Bank of America falls below $5.00
- Fitch says may cut ratings on European supranational banks (Council of Europe, European Investment Bank)
- AT&T ends bid for T-Mobile USA
A pretty dull session with EUR/USD locked in a range either side of 1.3000. Falling stocks, downgrade worries and a worrisome outlook toward 2012 from ECB chief Draghi kept modest pressure on the euro in the later stages of the NY session. 1.2988/1.3045 was the range, We end at 1.30 on the bottom.
