Waiting for the postman News from Europe: Forecast ActualU.K. May HBOS House Prices (MoM) – 1.0% – 2.4%U.K. May HBOS House Prices (YoY) – 3.5% – 3.8% The U.K. housing market is looking more and more like following the U.S. with the Halifax Building Society reporting a drop in prices over May of – 2.4% to [...]
A quiet Asian session sees the Dollar underpinned ahead of the ECB & BOE rate decisions Releases from Australia: Forecast ActualApril Trade Balance AUD -1.70bn -957mn Coal and gold exports provided Australia with a large decrease in their trade deficit while a 10% drop in capital goods imports also contributed. The drop in capital goods [...]
Like a bachelor the market has a fear of commitment… Releases from Europe: April Forecast ActualEuro-zone Retail Sales (MoM) +0.2% – 0.6%Euro-zone Retail Sales (YoY) – 0.8% – 2.9% MayU.K. Services PMI 50.5 49.8 Releases from the States: May Forecast ActualChallenger Job Cuts (YoY) 103.5KADP Employment Change – 30.0K +40.0KNon-Manufacturing ISM Composite 51.0 51.7 Jobs data was mixed while [...]
Early Europe awaits numbers Releases from Europe: April Forecast Actual French Business Confidence Indicator 108.0 106.0French Production Outlook Indicator – 13.0 – 9.0Italian Consumer Confidence Index 99.6 99.8 French business confidence declined in April but the outlook improved mildly as did Italian consumer confidence. The past month has seen numbers look a little better although retail sales [...]
Dollar slightly firmer in Asian trading Releases from Japan: Forecast Actual February All Industry Activity Index (MoM) – 0.5% – 1.4%March Corporate Service Price (YoY) +0.7% +0.4% Japan’s All Industry Activity Index inevitably followed the poor showing in the Tertiary Index earlier in the week with a -1.4% decline in February. Rather surprisingly it has been the [...]
Inflation, interest rates and red herrings… European releases overnight: February Forecast Actual Italian Retail Sales (MoM) – 0.1% +0.3%Italian Retail Sales (YoY) +0.6% +2.7%Euro-zone Industrial New Orders (MoM) – 0.4% +0.6%Euro-zone Industrial New Orders (YoY) +5.7% +9.9% AprilEuro-zone Manufacturing PMI (P) 51.6 50.8Euro-zone Services PMI (P) 51.4 51.8Euro-zone Composite PMI (P) 51.5 51.9 The BOE minutes [...]
Energy and food prices continue to strangle consumer spending power Releases from Europe: March Forecast ActualFrench Consumer Spending (MoM) – 0.3% – 1.7%French Consumer Spending (MoM) +2.8% +1.2% AprilFrench Manufacturing PMI (P) 51.6 51.5French Services PMI (P) 56.8 54.0German Manufacturing PMI (P) 54.8 53.6German Services PMI (P) 51.5 54.6 More evidence of a consumer squeeze as French [...]
Dollar stable before the European PMI numbers Releases from Australia: Forecast ActualQ1 CPI (QoQ) +1.1% +1.3%Q1 CPI (YoY) +4.0% +4.2%Q1 RBA Trimmed Mean (QoQ) +0.9% +1.2%Q1 RBA Trimmed Mean (YoY) +3.8% +4.1%Q1 RBA Weighted Median (QoQ) +0.9% +1.3%Q1 RBA Weighted Median (YoY) +4.0% +4.4% April DEWR Skilled Vacancies (MoM) -2.2% (prior) – 0.8% April DEWR Skilled [...]
There is no such thing as impossible… European releases overnight: March Prior RevisedMarch Italian Trade Bal Non-EU EUR -1.31bn -1.33bn Overnight saw the usual barrage of comments from ECB officials on inflation. Noyer said he found it hard to believe that inflation will continue at current levels and said the ECB will hike rates [...]
Dollar making gains in early Europe Releases from Europe: Forecast Actual March Swiss Trade Balance CHF 0.70bn 1.25bn The Swiss trade balance is holding up reasonably well but overall declining – exports taking an 8% fall. Given the current global circumstances this trend is likely to continue for the time being. The following economic releases are [...]
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