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EURJPY was under pressure in Asia today, following interest to buy downstrikes as well...

Tuesday, September 25, 2012 3:58 AM GMT

       Good Morning,

 

§  EURJPY was under pressure in Asia today, following interest to buy downstrikes as well. EURJPY traded down to 100.22  and is challenging now the 100.00 area which used to be a resistance before the pair rallied to almost 104.00. USDJPY made a low of 77.74. Also other EUR-crosses suffered in FE.

 

§  Stocks: Nikkei -0.15 %, Hang Seng -0.12 %, Shanghai Composite -0.39 %, Dow Jones -0.15 %, S+P500 -0.22 %

 

§  The European Central Bank and Germany's Bundesbank central bank are getting lawyers to check the legality of the ECB's new bond-buying programme, a German newspaper said on Tuesday. German tabloid Bild, which did not name its sources, said ECB and Bundesbank in-house lawyers were checking both what proportions the programme would have to take on and how long it would have to last for it to breach EU treaties. The newspaper said this meant there was a possibility that the issue could soon be referred to the European Court of Justice and added that the ECB and Bundesbank wanted to legally "arm" themselves for this scenario.

 

§  Offering one of the clearest road maps yet for the Federal Reserve's latest monetary stimulus Fed John Williams said on Monday he expects the central bank to expand its bond-buying program next year and end it before the close of 2014. Williams, president of the San Francisco Fed, said that because it will take more than a few months for the U.S. central bank's latest round of bond-buying to drive down the high unemployment rate, there is good cause to ratchet up the Fed's already aggressive measures.

 

§  Japanese Finance Minister Jun Azumi spoke to reporters in Tokyo. * Says speculation that change in finance minister will lead to currency policy vacancy is mistaken * Japan will act on yen thoroughly if necessary * Yen may become volatile, but over the mid- to long-term the BOJ's easing will have an effect on the currency

 

§  Japan Data Recap                          Period     Survey      Actual     Prior      Revised

       * Corp Service Price Index yoy     Aug       -0.3 %      -0.3 %   -0.2 %        -0.3 %

       * Small Business Confidence        Sep           -              45.1     44.8              –

 

§  Conference Board China Aug. Leading & Coincident     Aug       July

       * Leading Index                                                               240.4     236.4

       * Coincident Index                                                      223.0     221.9

 

§  Bank of Canada Governor Mark Carney said that Chinese investment funds may be interested in Canadian assets such as infrastructure projects. Carney said that China's economic growth rate may also slow in part because of Europe's debt crisis.

 

§  President Barack Obama's administration should formally declare China a currency manipulator in a semi-annual Treasury Department report due to be released on Oct. 15, a spokesman for Republican presidential nominee Mitt Romney said on Monday.

 

§  Australia's banks are well placed to cope with any shocks from abroad, the country's central bank said on Tuesday, though it also warned them against taking inappropriate risks in order to achieve unrealistic profit goals.

 

15:00

US S+P CaseShiller Home Price Index Jul

16:00

US Consumer Confidence Sep

16:00

US Richmond Fed Manufact. Index Sep

16:00

US House Price Index Jul

18:00

Fed Plosser

08:00

Germany GfK Consumer Confidence Oct

08:45

France Production Outlook Indicator Sep

08:45

France Business Confidence Indicator Sep

10:00

Italy Consumer Confidence Sep

10:00

German Chancellor Merkel + ECB Draghi speak at event

12:05

ECB Nowotny

13:30

German Chancellor Merkel + ECB Draghi meet at Chancellery

 

briefing planned.

10:30

UK BBA loans for house purchases

11:30

BOE Fisher

08:00

Switzerland Consumption Indicator Aug

10:05

SNB Jordan "Today's challenges from the SNB's perspective"

14:30

Canada Retail Sales Jul

(CET)

Have a nice day !

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