Forex News
German GDP in Q1: Weaker than expected, not only due to cold weather
The message in today’s numbers on German GDP is very clear: Europe’s largest economy is by no means immune to the euro crisis despite very low interest rates and
Economic news‑flow from Europe is not uniformly downbeat
Economic news-flow from Europe is not uniformly downbeat. Eurozone industrial production rose by 1.0% MoM in March, following a downwardly revised 0.3% MoM gain in February.
Euro Zone: Output up in March
Industrial production came in better-than-expected in March, rising by 1% on a monthly basis, following +0.3% m/m in February.
Resilient consumption
Retail sales in April were strong. After the very good news from the labour market, it is additional evidence that the US economy avoided the spring swoon this year.
Retail sales up 0.1 percent in April, much stronger than expected
– Gasoline station sales declined by 4.7 percent – Building materials up 1.5 percent – Motor vehicles and parts up 1.0 percent
USD/JPY Technical Analysis
(101,66) The USD/YEN confirmed another strong closing on Friday well above the top of the previous session, keeping Europe’s gap up, 99,42 – 100,88.
Australia’s April Business Confidence Fell
Australia’s economy notices a business confidence slump in April after the recent prompt support from the Reserve Bank of Australia,
Canada Recorded Employment Gain of 12,500 in April
– Canadian employment increased by 12,500 in April 2013 and was just shy of market expectations for a 15,000 increase.
UK trade balance rises less-than-expected
A report released on Friday showed that UK goods trade deficit narrowed to 9056 million pounds in March from 9165 million pounds in February.
Core inflation higher than expected, weakens the case for an interest rate cut from Norges Bank
– Core inflation at 1.5% and headline CPI at 1.9% in April – Inflation higher than expected maindly due to rise in food prices
U.S. Initial Claims Decline in the Week Ending May 4
Initial claims for unemployment insurance in the US fell by 4,000 to 323,000 in the week ending May 4, 2012, and beat market expectations for a 335,000 reading.
China – Headline CPI lifted by an unusually cold and dry April
In April, the headline CPI rose by 2.4% from a year ago, compared to 2.1% in March.