Sustainability of Greek Public Debt – EconPapers

Eurozone and Greece: another round of Greek-Card Monti … – Black Swan Blog

Is The Canadian Dollar Really A Commodity Currency? – Seeking Alpha

Greek death spiral accelerates – Evans-Pritchard

HIGH CHINESE CPI RISKS HARD LANDING – Pragmatic Capitalism

ECB chief leaves door open to bond help to Greece – AP

Greek PM office: Troika agreement completed – WSJ

MarketWatch First Take: EU and IMF should bypass Greece, give to Germany – WSJ

Bank of England Announces £50 Billion Stimulus (Video) – WSJ

Greece continues to make policy complicated for EU countries

Ahead of today’s Bank of England interest rate annoucement, sterling has weakened across the board. While the Reserve Bank of Australia did deliver a surprise with a hold on monetary policy, many expect the BoE to deliver QE3 as expected. The European Central Bank is also expected hold on interest rates today but given the shenanigans out of Greece, an interest rate cut is certainly a possibility.

• GBPUSD Update (50′s Blog)
• EURGBP Daily – decent h&s bottom possibly forming (Chart.ly)
• GBPUSD Forecast (Traders Log)
• World First Morning Update 9th February: Bank of England to print as Greek deal remains deadlocked (World First) [video]
• Analysts Feb BOE Forecasts Coalesce Around Stg50bln QE (Forex Live)
• UK DATA: Dec Manufacturing Output +1% M/M; +0.8% Y/Y (Forex Live)
• UK Trade December 2011 (Office of National Statistics) [pdf]

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A Break Out For The Euro? – Seeking Alpha

ECB to “contribute” to Greek bail out – The Big Picture

WHY I DON’T BELIEVE THE EUROZONE CRISIS IS OVER…. – Pragmatic Capitalism

UPDATE 2-Frustrations soar as Greeks seek elusive bailout deal – Reuters

European central banks to blast cash into economy – AP

Chinese leaders promise pay hikes, more jobs – AP

Euro gains strength ahead of Greek deal hopes – FT

Deutsche Bank’s Mayer Says Greece Has 3 Days Left (Audio) – Bloomberg

Hopkins’s Hanke Says Greek Economy Is ‘Imploding’ (Audio) – Bloomberg

ECB could surrender to save Greece – Breakingviews (Video) – Reuters

Breakingviews: The IMF just doesn’t get China (Video) – Reuters

Tuesday Forex Surprises – Seeking Alpha

Chinese debt has risen by 200% in the last 5 years – The Big Picture

IMF: EUROZONE CRISIS COULD CUT CHINESE GROWTH IN HALF – Pragmatic Capitalism

Employment Chart Palooza – The Big Picture

FOREX-Euro slips as Greek deal optimism runs thin – Reuters

Jordan: Won’t tolerate test of Swiss franc ceiling – WSJ

Australian dollar rises after rate surprise – FT

Sterling weakness starts to translate across the board

Sterling weakness has been better played versus the almighty AUD, the NZD and even the fledging EUR.

• GBPUSD Update (50′s Blog)
• UK manufacturing defies gloom with growth in January (The Telegraph)
• Bank of England’s Posen attacks banks for failing to deliver value for economy (The Telegraph)
• Surprise UK services growth eases recession fears (The Telegraph)
• RETAILERS GLOOMY (EconomicsUK.com)
• NIESR’s UK and World Economy forecast (Not The Treasury View)

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EURUSD Update… – @50pips

4 reasons why China’s capital waste is about to hit the fan. – Black Swan Blog

What are the best books on the psychology behind human decision making and irrationality? – Farnam Street

Greece’s hourglass running out of sand – The Big Picture

GOLD IS BECOMING A SAFE HAVEN ASSET AGAIN – Pragmatic Capitalist

Is Italy going to make it? – VoxEU.org

BONDS: SSA WRAP: NWB flop unlikely to derail dollar swing – IFR

IFR Comment: For Greece ‘O’ comes after ‘P’ – IFR

CANADA FX DEBT-C$ stumbles on mounting Greek concerns – Reuters

China wants guns and butter for European debt – Nasdaq

Nomura’s Sheard Says Euro Framework Does Not Work (Audio) – Bloomberg

Market Pulse: Euro assets slide as Greek uncertainty grows (Video) – Reuters

There is a whole Tumblr dedicated to captioning the UK Prime Minister. Hilarious.

It is a very light week out of the UK with the all the notable news released this week on Thursday. With more QE3 looming, $GBPUSD looks to unwind and correct its recent rally heading into the Bank of England announcement on Thursday. With the $GBPAUD at new all-time lows, tomorrow’s Reserve Bank of Australia will move this currency pair before the BoE has its way.

• Forex EURUSD, GBPUSD, EURJPY Key Levels and Bias (Tics&Pips)
• £50bn to be pumped into the economy (The Independent)
• Rate cut hopes fade (The Sydney Morning Hearld) [video]
• UK: To QE or Not to QE? That Is the Question (EconoMonitor)
• Austerity, or something else? (The Economist)
• UK faces a two-year recession if euro fails, IFS warns (The Telegraph)
• Plosser slams Fed’s 2014 low-rate forecast (Reuters)

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America's anti-corruption law deters foreign investment. Britain's is smarter. The GBPUSD exchange rate helps too.

Last week, bulls and bears alike waited for $GBPUSD to correct its rally. The only thing the market gave us were shallow retracements that found support at key levels. In fact, the US non-farm payrolls report was initially met with a USD rally that gave cable its steeper correction only to give way to USD weakness later in Friday trading that took $GBPUSD higher. Can we expect fundamentals this week to once again give bulls a correction for better buying opportunities? Or will bears gain momentum? With the Bank of England “guarenteeing” more QE at its meeting this week, will $GBPUSD get the correction everyone has been waiting on?

• GBPUSD 03 February 2012 (Gav’s trading blog)
• Daily Chart Art – February 3, 2012 (Baby Pips)
• Long GBPUSD correcion (Chart.ly)
• Bank of England to print further £50 billion (The Telegraph)
• Employment Report (Federal Reserve Bank of Cleveland)
• Today’s Job’s Report in Pictures (off the charts)
• Is BLS Data Skewed? (Trimlabs Money Blog)

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