Forex News
Greece fresh austerity in 2012
Greece’s international auditors have told the government it must adopt a further EUR2 billion in fresh austerity measures early next year, a local newspaper reports, amid signs that the country will miss its revised 2011 budget targets.
UniCredit EEMEA Daily
News CZ: Neutral – Nov PPI added 0.4% mom, unchanged yoy at 5.6% (p2) RU: Mixed – Putin’s Q&A session includes the usual tough rhetoric, hints of liberalization (p2)
HSBC Macrobullets
TOP Germany’s cherished European fiscal compact was unravelling as Hungary and the Czech Republic claimed it would be damaging and protesters in Warsaw demanded Poland stands firm against Angela Merkel – Telegraph.
UniCredit EEMEA Daily
News CZ: Mixed – 2012 budget passed the final voting in the lower house of parliament (p2) KZ: Positive – Nov retail trade turnover came in at 11.1% yoy (0.6% mom sa) (p2) LV: Mixed – 10M11 C/A moved further into deficit with a negative LVL 29mn Oct reading, FDI record strong inflow of LVL […]
FX DAILY STRATEGIST: Asia – 15 Dec 2011
Norges Bank surprises with -50bp but NOK still fares better than AUD, NZD and CHF Against the expectations of all but a couple of local houses, the Norges Bank surprised with an aggressive 50bp cut to its deposit rate Wednesday, citing higher funding costs and significant downward revisions to the economic outlook. Though the Norges […]
UniCredit EEMEA Daily
News BG: Neutral – CPI up 0.3% mom, eases to 3.1% yoy / MinFin sells BGN 65mn of 10?Y paper, vs. planned BGN 60mn, at 5.30% (p2) HU: Negative – Headline inflation accelerates to 4.3% yoy (p2) LV, LT: Neutral – Fitch revises rating outlook to Stable (p2) PL: Positive – Oct C/A deficit decreases […]
What matters today (Asia edition)
Developed macro 1. It increasingly looks as though it will be sour end to the year for markets, with hopes of a year end rally fading fast. 2. German Chancellor Merkel to address parliament today. 3. We expect the Norges Bank to remain on hold, but the market is looking for a rate cut.
UniCredit EEMEA Daily
News CZ: Neutral – The Govt’s 2012 debt financing strategy assumes borrowing needs of CZK 243bn gross and CZK 107bn net / CNB vice governor Vladimir Tomsik said the weakening CZK is doing policy maker’s job (p2) KZ: Positive – Nov IndOut holds up well at 2.9%YoY (p2) LV: Positive – 3Q final GDP revised […]
Intervention risk on the rise and how to play it
Polish CPI and current account balance will be released today at 13:00. Inflation is expected to accelerate to 4.5% y/y in Nov. from 4.3%. Meanwhile, the current account balance should post another large deficit of EUR1.9bn in October.
EUR consolidates in Asia after slump, but still looks vulnerable
The Asian session saw EUR and AUD trade a tad heavy early on a headline that China would withhold aid until the EU meets certain conditions. But once it was ascertained that the comment came from an academic at Peking University and not a policy-maker the slide halted. Tight ranges ensued thereafter.
HSBC Macrobullets – Tuesday
TOP China to withhold aid until EU meets certain conditions: Yao Yang (director of the China Centre for Economic Research at Peking University) {http://xrl.us/bmkumz} Fitch commenting on the Euro crisis: Predicts a significant downturn in EU in the short term; there is a lack of a comprehensive solution; too early to judge on how effective […]
Asian session wrap, orderbook & USD/Asia run
1) Asian session wrap The Asian session began with risk firmly on the back foot as New York finished the day at the lows after a day of relentless pessimism. EURUSD managed to print marginally lower than NY had done at 1.3160 this morning in Asia but pivotal support in the pair towards 1.3145 safe […]