Market Overview

European Wrap: Markets Experiencing Marginal Risk Appetite

European Wrap:  Markets Experiencing Marginal Risk Appetite

Spains Rajoy has no ruled out seeking international aid, but sees no rush due to progress in deficit cutting - Govt source
SNB reporting a consolidated profit of CHF 16.9 billion for the first three quarters of 2012
German September retail sales +1.5% m/m, -3.1% y/y compared to Reuter's median forecasts of +0.3% m/m, -1.2% y/y
Italy September adj jobless rate rises to 10.8% from 10.6% in August, as expected
Euro zone October unemployment 11.6% versus 11.5% in August
French September consumer spending +0.1% m/m, -0.3% y/y
ECB's Couere: Price stability risks in the eurozone are balanced
Italy Treasury Minister: Believe will see Italy return to growth from Q2 2013
Greek coalition faces new test - ekathimerini
Francois Hollande pushes for 160pc rise in beer taxes -The Telegraph

European stocks, oil, gold, US treasury yields all up this morning.  Nothing huge, but up all the same.

Against this backdrop euro has seen across the board gains, EUR/USD up at 1.3010 from early 1.2960,  EUR/JPY up at 103.85 from around 103.15.

The euro gains come despite much market talk of  negative month end EUR/USD flows. Maybe they'll come later in the day around the 4.00 London fix.

USD/JPY up marginally at 79.80 from early 79.55.  Talk of sell orders clustered from 79.90 to 80.10, buy stops above there.

Cable up marginally at 1.6115 from early 1.6085. EUR/GBP up at .8070 from early .8055 amid talk of the usual month-end Bundesbank cross buying.

AUD/USD up at 1.0385 from early 1.0315, having been as high as 1.0399.  Talk of 1.0400 barrier option interest in place.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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