Forex News
UK Q1 GDP grows 0.3%
UK GDP showed that Britain managed to escape a triple-dip recession after recording an expansion in the first three months of this year.
UK Data Looking Ahead
The UK data releases are expected at 0830GMT and include the preliminary reading of Q1 GDP, the February Index of Services and the March SMMT Auto Production Figures.
Investment remains strong
In March, the aircraft industry weighted on overall new orders for durable goods. However, core capital goods orders were up 0.2% when transportation is excluded.
IFO survey further down
In April, the IFO business climate index fell for the second month in a row (to 104.4, after 106.7 in March). It was due to a fall in both the current situation and expectations indices.
German Ifo business climate falls
German business confidence resumed its drop for a second month in April, adding to signs Europe’s largest economy is struggling to gain momentum.
Canadian February Retail Sales Rise More than Expected
– Retail sales in February 2013 rose a stronger than expected 0.8% following a 0.9% gain in January. – The increase was helped by a price-related 1.9% jump in gasoline station receipts along with a 1.0% rise in sales at motor vehicle dealerships.
U.S. New Home Sales Rise Modestly in March
– New home sales rose 1.5% to 417,000 in March 2013 to retrace a small portion of the 7.6% drop to an unrevised 411,000 level in February.
U.S. Existing Home Sales Moderated Slightly in March as Housing Inventories Remained Tight
– Existing home sales in the US moderated to 4.92 million annualized units in March 2013 from February’s revised 4.95 million sales (initially reported as 4.98 million).
Canadian Consumer Price Inflation Rate Slipped in March, With Core Rate Steady
– Canada’s headline Consumer Price Index (CPI) rose 0.2% in March 2013, which was slightly slower than forecasts for a 0.3% rise.
U.S. Initial Claims Rose Modestly in the Week Ending April 13
US initial claims inched up 4,000 to 352,000 the week ending April 13, 2013, which was just slightly above market expectations for a 350,000 reading.
UK retail sales fell in March
Retail sales with auto fuel for the month of March showed 0.7% drop, compared to both prior and expected readings of 2.1% and -0.6% respectively,
FX Daily
– Italy’s centrist parties seem to have reached last-minute deal on presidential candidate – Weidmann comments add to odds for an ECB rate cut