- Overnight Interest Rate Update 02.10.10 Wed, 10 Feb 2010 06:07 GMT
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- Feb, 09 U.K. Trade Balance Widens As Imports Outpace Exports
- Feb, 08 European Investor Concerns Grow As Budget Troubles Continue
- Feb, 05 Canadian Employment Soars On Service Sector Hiring
- Feb, 04 BoE Pauses QE efforts, Sees Inflation Falling Back Below Target
- Feb, 03 European Consumers Continue To Retrench
- Feb, 02 Rising Inflation and Domestic Demand Puts ECB on Alert
- Feb, 01 U.K. Manufacturing Expands, Weak Lending Threatens Recovery
- Jan, 29 EUro-Zone Inflation Expected To Remain Below Target Level
- Jan, 28 European Confidence Improves As Recovery Signs Continue
- Jan, 27 U.K. Retail Sales Weakens, BoE Sentance Talks Recovery
- Jan, 26 U.K. Growth Dissapoints, As German Business Confidence Reaches 18 month High
- Jan, 22 U.K Retail Sales Rise Less Than Expected, Euro-Zone Industrial Orders Climb 1.6%
- Jan, 21 U.K Deficit Maintains Record Levels, Euro-Zone Recovery Shows Signs of Slowing
- Jan, 20 Canadian Infaltion Retreats Allowing The BoC To Remain On Hold
- Jan, 19 U.K. Inflation Soars Increasing Potential For Change In Monetary Policy
- Jan, 15 Euro-Zone Inflation Rises Most In Ten Month's, But Remains Below Target Level
- Jan, 14 ECB Leaves Rates Unchanged Despite Increased Industrial Production And Rising Inflation
- Jan, 13 Flat U.K. Manufacturing Overlooked By Hawkish Comments From BoE's Sentance
- Jan, 12 U.K. Trade Deficit Narrows; Deflation in Japan Contines Amid Lending Declines
- Jan, 08 Canada Unexpectedly Loses Jobs On Drop In Manufacturing Hires
The Euro-Zone CPI estimate for November climbed 0.6% from a year ago to mark its first advance in 7 months and topped economists’ expectations for a 0.4% rise after falling 0.1% the month prior, the European Union of Statistics office in Luxembourg reported said today.
Fundamental Headlines
• U.K. Consumer Credit Posts Record Drop – Wall Street Journal
• Euro-Zone Consumer Prices Rise – Wall Street Journal
• Dubai Bail-Out Weighs on Dollar - Financial Times
• U.K. House Prices Advance for Fourth Month as Mortgage Approvals Increase – Bloomberg
• U.K. Mortgage Loans Rise to Highest Since March 2008 -Bloomberg
EUR/USD – The Euro-Zone CPI estimate for November climbed 0.6% from a year ago to mark its first advance in 7 months and topped economists’ expectations for a 0.4% rise after falling 0.1% the month prior, the European Union of Statistics office in Luxembourg reported said today. The data indicated that the gain was primarily led by rising energy costs as oil prices jumped 9% in the past three months, and higher commodity prices may continue to heighten price pressures across the region as the economy recovers from its worst slump since World War II. Looking ahead, as a recovery remains fragile, the jobless rate will likely remain elevated going forward as businesses keep a lid on production and employment, and the European Central Bank is widely expected to maintain its current policy later this week as growth prospects remain weak. To discuss this and other ideas visit the EUR/USD forum.
GBP/USD - U.K. mortgage approvals leapt 57.3K in October after rising 56.2K in the month prior amid economists’ expectations of 57.0K to mark the highest level of lending since March 2008, the Bank of England said today in London. However, consumer credit remained weak and plunged GBP 0.6B during October after contracting 0.3B in the previous month to post the largest monthly repayment since record keeping began in 1993. The data reinforces a weakened outlook for private sector consumption as households face a weakening labor market paired with tightening credit conditions however, economic conditions are likely to improve throughout the remainder of the year as policy makers see the nation emerging from the worst recession since the post-war period. Looking ahead, as the Bank of England maintains a dovish policy stance , interest rates are likely to remain at the record low going into the following year, and the MPC may look to expand its emergency program over the coming months as the central bank keeps an “open mind” for future policy. To discuss this and other ideas visit the GBP/USD forum.
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