Forex News
RBA Board Meeting – December 2013
After cutting the cash rate in December 2011 & 2012 the RBA declined to make it a hat-trick and deliver a pre-Christmas rate cut in2013.
Balance of Payments – QIII 2013
There are clear signs that one part of the required growth transition is underway. Export volume growth is rising, courtesy of China’sstrong demand for our resources and
Retail Trade – October
Retail trade rose by a decent 0.5% in October, which bettered market expectations that were centred on a rise of 0.4%{CBA(f) 0.5%}.
Macro viewpoint: Norwegian house prices further down in November
Third month with sharp drop in house prices Other housing markets indicators weakened further The November house prices statistics confirmed the weak picture of the Norwegian housing market.
Morning FX Market Commentary
Sterling is testing key resistance EUR/USD held its tight sideways range near 1.36 on Friday.
Business Indicators – QIII 2013
Gross company operating profits roce by 3.9% in QIII to be 8.9% higher over the year.
Building Approvals – October 2013
The number of residential building approvals fell by a modest 1.8% in October, less than market expectations whichcentred on a 5.0% fall {CBA (f) -6.5%}.
Terms of Trade spikes higher in QIII 2013
The Terms of Trade surged 7.5%, much higher than our and market expectations. From our perspective, the stronger thanexpected result largely reflected higher than expected export prices.
Norway: Clear signals of slowdown in Norwegian economy
• Regional network indicates GDP growth clearly on the weak side to Norges Bank’s view
Macro Viewpoint: Swedish Q3 GDP figures better than expected
Swedish GDP nearly stagnated in on the quarter in Q3, in line with our forecast but weaker than consensus. Growth was also weaker than the Riksbank’s view.
Morning FX Market Commentary
Euro stays well supported after German CPI data On Thursday, EUR/USD held close to the 1.36 mark as a rebound in German inflation questioned the room for more ECB easing.
NZ Building Consents show signs of plateauing
Dwelling consent issuance shows signs of plateauing. While it is encouraging to see the rebuild back on track with a furtherrise in dwelling consents issued in Canterbury,