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The euro fell against the dollar but still held near a four-month high...

Monday, September 10, 2012 3:31 AM GMT

Good Morning ,


§The euro fell against the dollar but still held near a four-month high, after weak U.S. jobs data fanned speculation that the Federal Reserve would launch more monetary stimulus this week. The common currency, already bolstered by the European Central Bank's plan to help lower borrowing costs for stressed members, dipped 0.2 percent from late U.S. trade on Friday to 1.2775 . The euro managed to hold on to much of its gains from Friday, when it climbed to as high as 1.2818 on trading platform EBS, its strongest level in nearly four months. The euro's downside will probably be limited going into the Fed's two-day policy meeting that ends on Thursday .  


§China’s imports unexpectedly fell and industrial output rose the least in three years, signaling more stimulus may be needed after the government last week said it approved subway and road projects across the nation. Inbound shipments slid 2.6 percent in August from a year earlier as exports rose 2.7 percent, the customs bureau said in Beijing today. Production increased 8.9 percent, the National Bureau of Statistics said yesterday. Inflation accelerated for the first time in five months.


§The euro zone enters a dangerous week, strewn with potential landmines, in a somewhat more optimistic mood after investors welcomed a European Central Bank plan to prevent a breakup of the single currency.German judges, Dutch voters, IMF inspectors and Brussels regulators could all spring surprises that make it harder to resolve a sovereign debt crisis which is almost three years old and weighing on the world economy. Wednesday is the main day to watch


§IMF Lagarde fully behind ECB's bond buying plan


§Germany's Merkel worried over domino effect if Greece leaves EU- Der Spiegel


§Troika inspectors reject part of Greec's latest austerity package. Protests to ensue this week


§UK Aug Business confidence fell to a 20 year low 89.1 vs 93.1 in July


§UK BOE's Dale warns more QE could store up problems for the future


§Japan July current account surplus 625.4b JPY, est. 485.6b JPY


§Japan Q2 GDP revised down to 0.2% q/q 0.7% annualized vs prelim 0.3% q/q, 1.4% annualized


§Australia Home-loan approvals fell 1% m/m


§NZ Q2 manufacturing sales volumes rise a modest 0.3% q/q after Q1's 0.7% gain


§NZ August Home sales rise 16.2% from a year earlier


§Specs reverse back to being net long USD in Sept 4 week



FR Industrial output


DEN CPI mm and yy


SWE Ind, prod. and Ind.orders


IT GDP Final qq and yy


NOK CPI mm and yy


EZ Sentix index


US Employment trends


US Consumer credit



Have a good day  !

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