Forex News
Euro area: Thoughts on German GDP and Hollande’s Schröder moment
The German economy grew by 0.5% last year and is set to pick up. In France, president Hollande now seems to embrace supply-side reforms that could foster competitiveness – if words are followed by action. A big if.
Sweden: Growth gearing up
Production in the business sector for November came out in line with our expectations. Production surged on the month and the year-on-year figure jumped to +1.4 % from -0.4% in October.
CPI Preview – QIV 2013
The Australian economy ended 2013 running at a below-trend pace.And the unemployment rate ended the year higher than at the start.Wages growth slowed. These trends stand behind the current lowinflation environment.
Sweden: Inflation surprises on the upside as a change
CPI rose by 0.3% on the month in December, well above forecasts. The upside risks for ticket prices for international flights that we foresaw played out, explaining the higher than expected CPI reading.
Australia in 2014 – risks & issues
A degree of caution remains evident in forecasts for 2014. The general theme across a range of forecasters is that the Australian economy will continue to run a little below trend.
The next step – NZ Quarterly Survey of Business Opinion, Q4 2013
Business sentiment has risen sharply over the last year, and with demand picking up, firms’ expansion plans are the strongest in two decades.
Housing Finance – November 2013
Housing-related lending continues to rise, with loans to investors and owner-occupiers on a solid uptrend. Owneroccupiedlending is now 30% higher (by value) than a year ago and investor lending is up by 34%.
NFP: Blame weather
The Establishment Survey showed only a 74k increase in December – much weaker compared to 197k Bloomberg consensus (although more recently expectations probably moved higher still after the ADP surprising to the upside).
Norway: Lower inflation than expected
• Core inflation lower than forecasted • 0.3% points below Norges Bank • Enough to have an impact on interest rates – if the gap last
Retail sales still weak
Despite the 0,5 % m/m rebound in retail sales in November development is still weak Q4 growth is so far below Q3, and clearly on the downside to Norges Bank’s forecast
Retail Trade – November 2013
Retail trade rose by a strong 0.7% in November, which bettered market expectations that were centred on a rise of 0.4%{CBA(f) 0.3%}. The news is good.
Building Approvals – November 2013
The drop in building approvals in November was a little larger than market expectations centred on a fall around 1% (CBA(f):-1.0%). Approvals surged over 2013,