- Spain Economy Minister Guindos: ECB is independent. ECB knows what problem of euro is, will act
- SNB’s Jordan: To enforce minimum exchange rate with utmost determination
- Merkel: Financial markets haven’t served the people
- Merkel: Greece must meet bailout conditions
- Swiss August PMI 46.7, weaker than Reuter’s median forecast of 49.0
- Euro zone August final manufacturing PMI 45.1, pretty much in line with flash 45.3
- UK August manufacturing PMI 49.5, demonstrably stronger than Reuter’s median forecast of 46.0
- ECB should launch ‘unlimited’ bond buying - OECD’s Gurria
It’s Monday. It’s the Labor Day holiday in the States. Didn’t take a genuis to work out we were gonna be quiet this morning. And quiet we were.
EUR/USD down 10 pips on day at 1.2567. Not much one can really say, so I won’t.
Cable up at 1.5885 from early 1.5868, having reached session high 1.5898 in wake of surprisingly strong UK manufacturing PMI data (see above) Talk buy stops gathering north of 1.5900. Buy orders clustered 1.5820/40, sell stops below there.
USD/JPY up 6 pips on day at 78.32. Buy orders clustered 78.00/20, reports sell stops through 77.95 and 77.90 (take your pick, what’s 5 pips between friends). Sell orders clustered 78.40/60, buy stops above there.
AUD/USD has continued under pressure, down at 1.0240 from early 1.0270. Recent weak Chinese data isn’t helping the old ozzie. Talk of barrier option interest down at 1.0200. AUD/JPY sits at 80.25. Talk of barrier option interest at the psychological 80.00 level, with decent sell stops said to lie just below there.
