*LCH CLEARNET SA LIFTS CHARGES ON ITALIAN BONDS FROM CLOSE TODAY
Market tried to sell EURO’s on this yesterday (later denied) so may try again on the open here at 1.3800 level
Also
Negative developments in Greece onite
Wires saying it now looks UNLIKELY that Papademos will be named PM. The market had assumed he’d be the one and had bought EURO’s on it yesterday.
Now, (relative unknown) Vassilis Skouris has emerged as likely candidate. So intentions to create a unity govt seem a lower now in Greece…so a long drawn election campaign to come.
Also ND party unwilling to sign the debt plan demanded by the EU and reluctant to add senior personnel to a unity cabinet.
Asian stocks have held up OK…
We have been net seller of USDCNY post [in line data ]
And a seller of AUD$ for Macro [again] , but still it holds up ok.
USDINR big move higher as Moody’s changed it outlook on it’s banking system.
HSBC Global Research