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 ;)
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