Asia sees the Dollar slightly firmer Releases from Japan: Prior Current March Supermarket Sales (YoY) +1.9% +1.4% Japanese supermarket sales managed the second consecutive month of annualized gains following 25 months of decline. Perhaps it shouldn’t come as much of a surprise with inflation now pushing prices higher led by food prices which rose by 2.7% [...]
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Quiet morning provides the Dollar with no momentum Releases from Australia: Prior Current February Westpac Leading Index (YoY) +4.1% +3.3% The annualized growth rate of the Westpac leading index of economic activity slowed to 3.3% in February from 4.1% in January. This is the 3rd consecutive decline and brings it to below its longer-term trend rate of [...]
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Euro-zone and States releases turn the tide in favor of the Dollar European overnight releases: February Forecast ActualU.K. DCLG House Prices (YoY) +7.4% +6.7% MarchItalian CPI (MoM) +0.5% +0.5%Italian CPI (YoY) +3.3% +3.3%U.K. CPI (MoM) +0.6% +0.4%U.K. CPI (YoY) +2.6% +2.5%U.K. RPI (MoM) +0.5% +0.3%U.K. RPI (YoY) +3.9% +3.8% AprilGerman ZEW Survey: Econ Sentiment – 30.0 – 44.8German [...]
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Market awaits ammunition Releases from Europe: March Forecast ActualFrench CPI (MoM) +0.6% +0.8%French CPI (YoY) +3.0% +3.2% French CPI at 3.2% YoY and oil climbing today to reach $112.48 indicates the inflationary pain will continue. With Italian inflation numbers today along with Germany’s and the Euro-zone’s later this week the ECB will watch with alarm. Already ECB officials [...]
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Asian session sees the Dollar trading flat Releases from Japan: Prior CurrentMarch Tokyo Condominium Sales (YoY) -28.0% -17.8% Tokyo’s condominium market continues to suffer with its 14th decline out of the last 15 months and marked its 7th consecutive decline on a YoY basis. Much of this has been the reduction in available plots on which large developments [...]
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Central Bank intervention is required soon if G7 wish to retain credibility European overnight releases: February Forecast ActualEuro-zone Industrial Production (MoM) +0.2% +0.3%Euro-zone Industrial Production (YoY) +2.9% +3.1% MarchU.K. PPI: Input (MoM) +1.9% +1.8%U.K. PPI: Input (YoY) 19.3% 20.6%U.K. PPI: Output (MoM) +0.5% +0.9%U.K. PPI: Output (YoY) +5.6% +6.3% Producer Prices in the U.K. have hit their highest [...]
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Action and reaction requires the removal of inertia News from Europe: The Bank of France has retained its estimate of Q1 GDP at +0.4% based on a survey of business leaders. On Friday the central bank released its business sentiment index that eased by 1.0 to 105 from February. The survey reported that industrial activity [...]
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Following the spike higher the Dollar has consolidated in Asia Releases from Australia: Forecast ActualFebruary Home Loans (MoM) +0.5% – 5.9%February Investment Lending (MoM) - 9.5% Global fears have certainly reached the Australian shores as home and investment loans crashed over February and will probably also be accompanied by a general fall in consumer confidence also. It stacks up [...]
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Lack of reasons to sell further has disappointed the market European releases overnight: Q4 Forecast ActualSwiss Industrial Production (YoY) +8.2% +9.1% JanuaryItalian Trade Balance – Total EUR -3410mn -4219mnItalian Trade Balance – EU EUR 697.5mn 125.0mn FebruaryU.K. CPI (MoM) +0.8% +0.7%U.K. CPI (YoY) +2.5% +2.5%U.K. CPI Core (YoY) +1.4% +1.2%U.K. RPI (MoM) +0.8% +0.8%U.K. RPI [...]
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The market takes advantage of some peace before the FOMC There have been no releases in Europe so far. The following economic releases are due today: Q4 Swiss Industrial Production (YoY) +8.2% JanuaryItalian Trade Balance – Total EUR -3410mnItalian Trade Balance – EU EUR 697.5mn FebruaryU.K. CPI (MoM) +0.8%U.K. CPI (YoY) +2.5%U.K. CPI Core (YoY) [...]
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