Forex News
FOMC minutes:Taper decision not a close call
Last month the Fed decided to start tapering its monthly bond purchases. According to the FOMC minutes, most officials supported the gradual reduction in QE as they saw waning benefits from it.
Riksbank minutes: Inflation target back in focus
The minutes from the monetary policy meeting on Dec 16 clearly shows that the continued downside surprises to inflation has become a concern and
Sweden: Service sector PMI edges up further
The service sector PMI rose further in December to 57.7 from the already healthy level of 57.0 the previous month. This was roughly in line with what we had expected.
International Trade – November 2013
The November trade shortfall of $118m came in much lower than market expectations which centred on a $300m deficit{CBA (f) -$600m). Australia has been running monthly trade deficits since December 2011.
Norway: House prices not that weak in December
House prices dropped in December, as they normally do, but seasonally adjusted prices were up 0.2% m/m. That was a positive surprise after several months with price drops around 1.0% m/m.
Euro area: Slow recovery in manufacturing is on track
Today’s final PMI data for the manufacturing sector for December confirmed 1) that the slow recovery of the Euro-area economy is on track; 2) that Spain and Italy are making progress and 3) that France continues to struggle.
Sweden: Volatile PMI down in December
The volatility in the Swedish manufacturing PMI continues. After the uptick in November to 56.0, the PMI fell back to 52.2 again in December.
RP Data House Prices – December 2013
The RP Data-Rismark series indicates that dwelling prices rose by a solid 1.4% in December. The monthly lift in pricestook annual growth over 2013 to 9.8%.
Sweden: Retail sales take off
November retail sales came out well above expectations. In volume terms, sales increased by a full 4.5% over the year. Forecasts stood at 3.0 % y/y.
Norway: Another increase in registered unemployment
• Registered unemployment increased again • But slightly less than expected • Figure no big surprise to Norges Bank
Sweden: Producer prices indicate continued low inflation
There were rather small changes for producer prices in November. Prices rose by 0.4% on the month but declined by 0.4% over the year. There were no consensus forecasts ahead of the figures.
Japan: BoJ on hold but keeps options open
The BoJ maintained its monetary policy unchanged today but keeps its options open, so additional easing in 2014 cannot be dismissed. But the BoJ will likely increase pressure on the government to