EUR

if trade is below 1.2170 tomorrow will be euro 1.20 most probbly.............so support for euro from anywhere.............

Free Drinks!!! and what about free boyz too? :D

June 3 (Bloomberg) -- Overnight deposits with the European Central Bank rose to a record yesterday as the sovereign debt crisis made banks wary of lending to each other.

Banks lodged 320.4 billion euros ($394 billion) in the ECBs overnight deposit facility at 0.25 percent, compared with 316.4 billion euros the previous day, the Frankfurt-based central bank said in a market notice today. Thats the most since the start of the euro currency in 1999. Deposits have exceeded 300 billion euros for the past five days.

Banks are parking cash with the ECB amid investor concern that a 750 billion-euro European rescue package may not be enough to stop the crisis from spreading and spilling into the banking industry. The ECB said on May 31 that banks will have to write off more loans this year than in 2009 and their ability to sell bonds may be hampered as governments seek to finance fiscal deficits.

The banking crisis is back, said Norbert Aul, an interest-rate strategist at Commerzbank AG in London. The news flow over the past few weeks has spooked banks and since nobody knows how exposed individual financial institutions are, its deemed safer to park cash with the ECB rather than lend it on.

Tensions

Money market tensions are resurfacing even after the ECB started buying government bonds and said it would offer banks as much cash as they want for up to six months. The measures accompanied the European Union rescue package, agreed on May 10, to counter the worsening debt crisis and promises by Greece, Spain and Portugal to rein in their budget gaps.

Money market rates are rising, with the euro interbank offered rate, or Euribor, for three-month loans yesterday increasing to 0.704 percent, the highest this year. Banks borrowed 9 million euros from the ECB at the marginal rate of 1.75 percent, the central bank said today.

The efforts by the EU and the ECB failed to allay investor concerns. Fitch Ratings lowered the credit grade of Spain, the euro areas fourth largest economy, to AA+ from AAA on May 28. Standard & Poors in April cut Greeces debt to junk and lowered the ratings on Portugal and Spain.

Portuguese 10-year government bonds fell today, increasing the premium investors demand to hold the debt instead of benchmark German bunds.

The yield on the Portuguese security rose five basis points to 5.08 percent as of 8:56 a.m. in London. The spread over bunds widened six basis points to 231 basis points, according to Bloomberg generic data. Spains yield over Germany was unchanged at 177 basis points.

EURCAD 40 points away from yearly low

Last night ECB received its highest swap flow ever, no wonder bond spread are wild again.........

But tell me what do you guys make of this;

Analysis:Projected Census Positions Fewer Than Actual Workers
Current Door-to-Door Phase May Involve Less Double Counting

By Ian Mckendry

WASHINGTON (MNI) The 2010 Census door-to-door phase that
injects a spike of additional workers into the monthly jobs data is in
full swing with the peak hiring having occurred right around the survey
week for Fridays report.
The U.S Census Bureau projects 1.4 million positions to be created
from the entirety of the Decennial 2010 Census operation a number
that includes positions workers were hired for in prior years in
preparation for the 2010 Census. The U.S Census Bureau confirmed in
response to a Market News inquiry that the number of actual individual
workers hired is likely to be less than that figure because one single
worker may actually be hired for multiple positions.
However, the current door-to-door phase that contributes the
sharpest spike in hiring involves actual workers hired specifically to
ring doorbells.
According to the U.S Census Bureau some workers, more likely in
remote areas, Door-to-Door workers may hold multiple positions.
The Bureau breaks up its operations into multiple phases and May
marked the beginning of the Door-to-Door phase, when hiring peaks, as
census workers follow up on the approximately 48 million households that
did not mail-in Census forms.
According to the Census Bureau a worker may be hired for multiple
phases, maybe two or three, and that would then be recorded as two or
three positions counted which would be included in the 1.4 million
positions created figure.
The U.S Census does not keep data on rate at which workers fill
multiple jobs.
The door-to-door phase is projected to end July 10, and the
Census Bureau said the number of positions people are hired for is
expected to decrease as that deadline approaches.
According to the Census Bureau the rate of decline depends on how
quickly the work is completed.
The most recent statistics released by the Census Bureau said
549,450 actual workers were paid in the third week of May, down 36,279
from the 2010 peak of 585,729 in the first week of May.
The Door-to-Door operational phase which began in May overlapped
with the Update/Enumerate phase which includes filtering out seasonally
occupied homes, and counting homes with irregular addresses. The
Update/Enumerate phase essentially ended May 29 according to the Census
Bureau.
The Door-to-Door phase will also overlap with the Vacant/Delete
phase which includes determining if a home is vacant, does not exist, or
occupied that phase is to begin in July.
Neither the Update/Enumerate phase or the Vacant/Delete phase is
expected to employ as many people as the Door-to-Door phase.
The Census Bureau projected in April that it anticipates hiring a
total of around 635,000 positions in all for the Door-to-Door visits.
Overall the 2010 Census has had a good mail-in response rate which
may lessen the number of needed hires to take door-to-door tallies.
Americas had a very successful first half of the 2010 Census,
where more than 72 percent of the nations households mailed back their
census forms, U.S. Census Bureau Director Robert Groves said.
The 72 percent response rate matches that of the 2000 census.
A fact sheet released by the Census Bureau said 3.8 million workers
were recruited to fulfill positions in 2009 and 2010, and 1.4 million of
those were fingerprinted for security purposes.
Even if a potential census worker went through the security process
they are not guaranteed to be hired.
Groves is expected to release new Census statistics Wednesday at
noon during a media briefing.
** Market News International Washington Bureau: 202-371-2121 **
[TOPICS: M$U$$$,MAUDS$]