Forex News
Risks & Drivers – Tapering our global growth forecasts
Positive growth signals continue to trickle out across the globaleconomy. The Eurozone economic recovery has stabilised, havingrecorded its second consecutive quarter of modest growth in Q3.
QIII Capex – What to Expect
The QIII capex release will contain figures for actual capital spending in QIII and the fourth estimate of planned 2013/14capex spending.
Canadian Retail Sales Jumped 1.0% in September
Canadian retail sales rose a stronger than expected 1.0% in September 2013 following a 0.1 % (was 0.2%) increase in August and a 0.5% gain in July. Market expectations had been for a smaller 0.3% increase in September.
Canada’s Consumer Price Inflation Rate Fell to 0.7% in October
Canada’s headline consumer price index fell 0.2% on a not seasonally adjusted basis in October 2013, which was a bigger monthly decline than market forecasts for a 0.1% dip.
Macro Viewpoint, Sweden: Improved business sentiment points to stronger GDP growth
NIER’s October business tendency survey was strong and better than expected. Confidence in the total business sector rose to 104.7, the highest level since June 2011.
Macro viewpoint: Swedish consumers expect happy days
Swedish consumers see that happy days are coming. According to the NIER household survey, the consumer confidence indicator (CCI) came in at 104.9, up from 102 in October.
Morning FX Market Commentary
Sterling remains well bid The euro profited only modestly from Draghi’s comments that nothing new has been decided about the deposit rate.
Macro Viewpoint: German growth not low enough to trigger policy change
GDP growth confirmed at 0.3% q/q in Q3, driven by domestic demand The detailed GDP data for Q3 out today confirm the view that Germany is on a stable but not on a steep growth path.
US Producer Prices Dell 0.2% in October, and Core Prices Edged up by 0.2%
The US producer price index (PPI) fell 0.2% in October 2013, which was in line with market expectations following a 0.1% drop in September,
Morning FX Market Commentary
EUR/USD nosedives on rumours of a negative ECB deposit rate. On Wednesday, the stalemate in EUR/USD was unlocked.
FOMC minutes: Fed wants to taper but need more data
The tone of the October FOMC minutes is in line with Bernanke’s comments yesterday night and to the hawkish side of market expectations.
US October Retail Sales Rise More than Expected
Retail sales in October 2013 rose a stronger than expected 0.4% following unchanged activity in September that was revised upward from the previously estimated 0.1% decline.