14:05CET
These are the items that have been hitting the wires thus far and having a good impact on the markets. * Irish opposition finance spokesman Noonan: Hearing of policy difference between IMF and Europe* Moody’s says EU/IMF package will increase the Irish sovereign debt burden, a credit negative for Ireland.
* Multi-notch downgrade, leaving Ireland’s rating still within investment grade category, now most likely outcome
* Irish junior govt party leader says believes it is time to set a date for general election in 2nd half of January 2011.
* Irish FinMin: Ireland is not bust, has substantial cash reserves. No divergence of opinion between IMF and EU
* German govt spokesman: We demand a stringent programme of reforms in Ireland
* ECB’s Nowotny: Important to contain Ireland problems. There are problems with individual states, not the euro
* Japan vice FinMin Sakurai: To take firm steps on yen rise as needed in collaboration with BOJ – Kyodo Technically speaking, we've finally come to terms with the usual 'Monday' status, and the USD has staged a good comeback, hitting hard against the EUR, GBP and AUD, precisely the currencies that had put a bigger threat to the USD earlier in the morning. The EUR/USD has hit extreme OS territory in 15m charts and a bounce is more than likely from current 1.3650, so buying here is good, selling any upticks thereafter as the overall USD picture remains rather bullish.
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