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Greek FinMin: Troika talks ongoing but unsure if deal done by Oct 18-19...

Wednesday, October 3, 2012 3:29 AM GMT

        Good Morning,

 

§  Asian stocks fell and commodities declined as Chinese services industries expanded at the weakest pace since at least March 2011 and Spain’s prime minister said a bailout request isn’t imminent.

 

§  The EUR was 0.8 percent from a three-week low as signs of economic weakness in Europe add pressure on central bank policy makers meeting this week to consider fresh easing steps. The 17-nation euro ended a four-day gain against the yen before data that may show retail sales in the region had the first consecutive monthly drop this year. European Central Bank and Bank of England officials are due to meet tomorrow.Australia’s dollar weakened to a one-month low.

 

§  Spanish Prime Minister Mariano Rajoy said yesterday a request for European aid was not imminent following a report the country could apply for help as soon as this weekend. Rajoy made the comments after meeting in Madrid with the 17 leaders of Spain's regions

 

§  The European Union's banking watchdog will stick to a target for banks to raise more capital to help shield them from the euro zone debt crisis when it publishes a new report today

 

§  Greek FinMin: Troika talks ongoing but unsure if deal done by Oct 18-19

 

§  Portuguese debt agency IGCP will offer to exchange bonds due next year for securities maturing in three years as it tries to regain access to long-term debt markets.

 

§  BoE's Haldane says banking reforms should go further

 

§  UK BRC shop price inflation increased 1% y/y in September, compared with +1.1% y/y in August, while food price inflation remained unchanged at 3.1%

 

§  Nakao said Japan likely to buy ESM Bonds

 

§  Japan, South Korea to end temporary expansion of FX swap pact as scheduled Jiji

 

§  Australia August trade balance stood at a deficit of AUD2.027bn, higher than AUD1.53 in July. August exports and imports declined 3% m/m and 1% m/m, respectively

 

§  Australia August new home sales -3.5% m/m, 15-year low - HIA.

 

§  Australia sells A$500 mln 4.25% 2017 bonds, weighted average yield 2.4955%.

 

§  New Zealand Fonterra’s Global Dairy Trade- Trade Weighted Index declined 0.9%, the first drop in two months

 

§  Pimco: America could resemble Greece before 2020

 

§  US Treasurer Brainard, Europe has the tools to solve it's crisis

 

§  China’s non-manufacturing PMI fell to 53.7 in September from 56.3 in August

 

§  The ADB cut its growth forecast for Asia ex-Japan to 6.1% in 2012 from 6.6% in July and 6.9% in April; cut 2013 GDP forecast to 6.7% from 7.1%; cut inflation projection to 4.2% from 4.4%; said that deceleration in China and India and in other major exporting economies is tempering earlier optimism

 

08.30

SW PMI Services

09.58

EZ Markit Services PMI

10.28

UK Markit / CIPS Service PMI

11.00

EZ Retail sales mm and yy

13.00

US Mortgage market index

13.00

US MBA Purchase index

14.15

US ADP National employment

16.00

US ISM non-Mfg PMI

(CET)

Have a nice day !

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