Forex News
Macro viewpoint: Swedish consumers stay cautious
Today’s retail sales figures came out somewhat weaker than expected. In volume terms, sales were unchanged over the month, while we had expected a uptick from the slow Q3.
Morning FX Market Commentary
Yen remains under pressure across the board The dollar was under moderate pressure against the euro but was saved by decent US confidence data.
Capex – QIII 2013 – data betters market expectations
The positive QIII outcome for actual business capex bettered market expectations which centred on a fall of 1.2%. The3.6% rise in capex over the quarter was broad-based.
Economy Watch – The Business Labour Forice Survey
While everyone appears obsessed with the impact the LVR policy will have on the housing market, the economy continues to broaden and strengthen its momentum regardless.
Norway: LFS unemployment figures neutral to Norges Bank’s view
LFS unemployment slightly down But well in line with Norges Bank’s view LFS unemployment showed a slight drop in September against the consensus view of a slight increase.
Macro Viewpoint: Still waiting for the recovery in Swedish exports
The trade figures for October suggest that exports of goods have levelled out while there is still no recovery. Imports were stronger but still rather sluggish.
Morning FX Market Commentary
Dollar stays in the defensive The dollar stayed under slight pressure yesterday. The US data were mixed, but currency markets focused on a poor US consumer confidence release.
Construction Work Done – QIII 2013
The volume of construction work done rose by a robust 2.7% in QIII. This followed an upwardly revised lift of 0.1% in QII.The result came in above market expectations which centred on
Economy Watch – New Zealand’s Great Wall of Exports
This morning’s upbeat merchandise trade figures didn’t surprise us as much as they did the market. We thought there were good reasons to expect exports to pick up the pace.
Macro Viewpoint: Continued low price pressures for Swedish producers
Producer prices fell in October on the month as well as over the year, in line with forecasts. The downturn was broad based and is basically explained by a stronger SEK.
Morning FX Market Commentary
EUR/USD rebound slows On Monday, EUR/USD reversed part of its post-ifo gains.
Morning FX Market Commentary
IFO triggers euro rebound On Friday, the euro gained across the board as the German IFO business confidence was reported well above consensus.