Forex News
Labour market still soft despite employment gain in October
Employment rose 24.1K in October, reversing the September fall, with full-time jobs up 33.4K.
Labour Force – October 2014
Employment lifted by 24.1k in October and the unemployment rate held steady at 6.2%.
Trade Balance – September 2014
The September trade deficit of $2.26bn printed significantly wider than market expectations of a $1.85bn deficit.
Retail sales surge in September. Wealth effect from rising house prices evident.
Retail sales up huge 1.2% in September. Now running at improved 5.7% yoy.
Sweden: Manufacturing PMI suggests that a recovery is still remote
The PMI for the manufacturing industry declined in line with expectations in October.
US: Strong Q3 GDP growth puts more pressure on the Fed
Real GDP rose at a 3.5% annual rate in Q3, after a 4.6% pace in Q2 when activity rebounded after the weather-related slump in Q1.
UK: Strong momentum
The flash estimate showed GDP growth of 0.7% q/q, which is in line with expectations corresponding to 3.0% y/y.
US: CPI inflation remains tame – Fed can wait a bit longer
Today’s inflation data suggest that inflation was steady in September.
UK: BoE majority more concerned about Euro-area risk
As in August and September, Weale and McCafferty voted for a 25bp rate hike at the October MPC meeting,
Performance of Services Index (PSI) – Moving On Up
The services sector showed increased expansion during September, according to the BNZ – BusinessNZ Performance of Services Index (PSI).