Eurozone Industrial New Orders
Eurozone Industrial New Orders for july came in at -2.4%, weaker than the -1.2% expected.
Eur/Usd currently trades at 1.3320.
BoE votes 8-1 to keep rate at 0.5%, bond plan remains at 200B
Sentance voted for rate increase, would like to raise rates gradually. Well communicated policy needed for higher rates.
Some BoE members saw more probability to raising stimulus.
MPC said services could weaken, consumer data promising. CPI upside risk hasn’t changed materially though ready to respond in either direction.
Gbp retreats upon release with Gbp/Usd down to 1.5628 and Eur/Gbp at 85.01.
Eur/Usd above 200 day M/A
Yesterday’s Fed suggestion of the possiblityof providing more stimuli to U.S. economy has sent the dollar to slide, causing Eur/Usd to close above its 200 day M/A of 1.3214. The pair has since traded up to 1.3329 and may have its sights set on a full retracement of move beginning with high of 1.3691 back on may 12.
If we see a pullback, 1.3170 seems to be a good base signifying some old daily highs.

9-22 Economic Calendar

Greece sell 390 million euros of 13 week t-bills; Ireland sells 500 million of 2014 bonds
These promising sales have sent Eur/Usd to test 1.3150. The pair has since retreated to 1.3135.
ECB’s Wellink on the wires
ECB Governing Council member Nout Wellink told this to Market News International;
* ECB may delay exit if it hurts economy’ would reconsider exit if growth at risk
* baseline scenario for growth still okay
* doesn’t expect significant rise in market rates in 4th quarter
* not too pessimistic on U.S. economy
* Greece still on track
* satisfied with policies regarding the Euro
UK Public Sector Net Borrowing
UK Public Sector Net Borrowing for August came in at 15.3B, a larger deficit than the 12.5B expected.
This is the highest level for an August on record.
Gbp/Usd trades at 1.5545.
EU’s Barroso on Ireland
EU’s Barroso says Ireland is taking courageous measures on its finances. Barroso feels the EU is closely monitoring the situation and sees Ireland as taking the proper measures on its deficit.
