- Russia’s Putin: U.S. shield plans remain biggest problem to new nuclear arms pact. Russia needs to develop new offensive weapons system to keep balance of power with U.S.
- Shanghai share index ends up 0.7%
- French Q3 GDP confirmed at +0.3% q/q
- Italy December business confidence rises to 82.6 from 79.4 in November, demonstrably better than median forecast of 79.5 and highest read since June 2008
- ECB’s Mersch: Euro zone to grow in 2010, but will be moderate and fragile
- UK housing equity withdrawal -£4.910 bln in Q3
- UBS Swiss consumption indicator rises to 1.28 in November from 0.88 in October
The greenback has had mixed fortunes this morning; generally easier, cable and USD/JPY exceptions.
EUR/USD is up at 1.4425 from an early 1.4375, having been as high as 1.4438. Russia was a notable buyer this morning and the pairing got a decent lift when stops were triggered in EUR/JPY as 132.00 gave out. The cross is up at 132.40 from an early 131.80.
Earlier in Asia there was talk of US names with decent bid interest down around 1.4350/60.
USD/CHF is down at 1.0305 from an early 1.0350 with EUR/CHF still heavy around 1.4870 ( albeit off a session low of 1.4854) The question being asked is when is the SNB going to turn up?
AUD/USD is up at .8960 from an early .8880. The pairing is being underpinned in no small part by talk of good aussie buy interest lined up for todays 16:00 GMT London fix.
USD/JPY is effectively unchanged at 91.70. Buy orders noted down at 91.40/50, sell orders at 91.80 up to touted 92.00 barrier option interest.
Cable at 1.6003 is exactly where it was when I sat down some 6 hours ago. Inbetween though it’s been as high as 1.6067 when stops were tripped through 1.6055 and as low as 1.5980. The cable market remains abnormally thin/illiquid which will be exaggerating moves. Things unlikely to change ahead of New Year.