FXstreet.com (Barcelona) - European headlines over the last few days were not encouraging. German manufacturing orders fell 1.3%mom in August (vs. -0.5% expected). According to our Macro Strategy J. Reid at Deutsche Bank, “the order data corroborates the message provided by recent PMI and other confidence surveys: the German manufacturing sector is decelerating, with little signs of an imminent rebound.”
There were also reports of further delays to Greece's negotiations with the troika. The kathimerini suggests that discussions could last another two weeks, which would push proceedings past the European Council meetings on October 18th-19th. Spain's Canarias region said it would seek €757.0M (USD $989.0M) in aid from the central government, which will make it the sixth Spanish region to tap the central government's €18.0B liquidity fund.
On the subject of bailouts, Cyprus' government will aim to finalize a bailout by October 20th, with the majority of funds going to recapitalize banks. The size of the bailout is estimated to be between €12.0B to 13.0B. Meanwhile tensions remain high in South Africa as Anglo American Platinum fired 12000 striking workers, driving the USD/ZAR to selloff 3% on Friday.
There were also reports of further delays to Greece's negotiations with the troika. The kathimerini suggests that discussions could last another two weeks, which would push proceedings past the European Council meetings on October 18th-19th. Spain's Canarias region said it would seek €757.0M (USD $989.0M) in aid from the central government, which will make it the sixth Spanish region to tap the central government's €18.0B liquidity fund.
On the subject of bailouts, Cyprus' government will aim to finalize a bailout by October 20th, with the majority of funds going to recapitalize banks. The size of the bailout is estimated to be between €12.0B to 13.0B. Meanwhile tensions remain high in South Africa as Anglo American Platinum fired 12000 striking workers, driving the USD/ZAR to selloff 3% on Friday.
