European Morning Update 22nd April 2008
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% and represents […]
European Morning Update 16th April 2008
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 4.1%.
Westpac commented, […]
Asian Morning Update 16th April 2008
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 ZEW Survey: Current Situation […]
European Mid Morning Update 15th April 2008
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 have been […]
European Morning Update 15th April 2008
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 can be […]
Asian Morning Update 15th April 2008
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 rate in 17 years. […]
European Mid Morning Update 14th April 2008
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 remained stable […]
European Morning Update 14th April 2008
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 the evidence […]
Asian Morning Update 19th March 2008
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 (YoY) +4.2% +4.1%U.K. RPI […]
European Mid Morning Update 18th March 2008
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) +1.4%U.K. RPI (MoM) +0.8%U.K. RPI (YoY) +4.2%U.K. […]