European morning wrap: It's a month-end kinda day…

ECB buys Portuguese bonds Portuguese storm gathers as EU leaders fight over Greece - AEP at The Telegraph German December prelim retail sales -1.4% m/m, -0.9% y/y, demonstrably weaker than Reuter's median forecasts +0.9%, +1.4% respectively German January s.a jobless total falls -34k to 2.849 mln, better than median forecast -5k.  Jobless rate fell to 6.7% from previous 6.8%, better than median forecast of unchanged 6.8% Italian December adj jobless rises to 8.9%, up from revised 8.8% (prev 8.6%) in November,  worse than median forecast 8.7% Euro zone December unemployment 10.4%, unchanged from revised 10.4% (prev 10.3%) in November.   As expected French December consumer spending -0.7% m/m, weaker than Reuter's median forecast of +0.2% UK December mortgage approvals 52,939, up from 52,628 in November, but weaker than median forecast of 53,700.  Still, highest read since December 2009 ECB Nowotny:  "Of course" risk in ECB's Greek bond holdings (doesn't miss a trick) Early talk had general USD month-end sales in the offing, especially against the Canadian dollar and sterling. USD/CAD is down at .9975 from early 1.0005, so that worked out. GBP/USD is up at 1.5780 from early 1.5735, so that worked out too. Jolly hockey sticks, what....  Bang on!!! EUR/USD meanwhile has been a dud, struggling for meaningful direction.  At 1.3195 presently we're effectively unchanged on the day.  Talk of trailing sell stops now through 1.3160. On topside, sell orders seen clustered up at 1.3230/50, buy stops above there. USD/JPY up at 76.38 from early 76.20.  Rumours in early Europe had BOJ checking rates and Japanese banks being told to stay late.  The old ones are always the best ;)