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- Mar, 19 Core Canadian CPI Breaches Threshold, Putting BoC on Alert
- Mar, 18 Euro Tumbles amid Greece Concerns, U.K. Mortgage Approvals Disappoint
- Mar, 17 BoE Remains Cautious Despite Unexpected Improvement in Labor Market
- Mar, 16 European Investor Confidence Weakens for a Sixth Consecutive Month
- Mar, 15 Euro-Zone Employment Extends Five Month Decline, Swiss Producer & Import Prices Tumble in February
- Mar, 12 Candian Unemployment Unexpectedly Falls As Full-time Hires Soar
- Mar, 10 A Drop in German Exports Casts Doubt on Recovery
- Mar, 09 Declining U.K. Exports Threatens Recovery, Keeping BoE on Alert
- Mar, 08 German Industrial Production Disappoints, As Construction Suffers.
- Mar, 05 Rising UK Factory Gate Prices May Force BoE to End QE
- Mar, 04 BoE Remains on Hold, No Statement Leaves Markets Guessing
- Mar, 02 Euro-Zone Inflation Slows Allowing ECB To Remain On Hold
- Mar, 01 Drop in U.K. Mortgage Approvals Raises Outlook For More QE
- Feb, 26 Stronger Than Expected U.K. Growth Creates Difficult Decision For BoE
- Feb, 24 German Growth Flat as Strong Demand From Abroad Offsets Domestic Weakness
- Feb, 23 U.K. Mortgage Approvals Decline, Opening the Door For More QE
- Feb, 19 U.K. Retail Sales Weaken More Than Expected, Euro-Zone Manufacturing Strengtens in February
- Feb, 17 U.K. Jobless Claims At Highest Since April 1997, Euro-Zone Trade Surplus Widens in December
- Feb, 16 U.K. Inflation Rises to 14-Month High, German Investor Confidence Tumbles for 5th Month
- Feb, 12 Euro-Zone GDP Stalls As Industrial Production Falters
The U.K. CBI monthly retail sales survey fell to -8 from 13 ending four months of improving demand. Forecasts were for a pullback to -2 as tight credit conditions are expected to continue to hinder consumption over the near-term.
Fundamental Headlines
• European Union Sees Dreams of Power Wane– Wall Street Journal
• Economic 'Bullwhip' Hits Firms As Growth Snaps Back – Wall Street Journal
• Diamond lashes out at Obama bank plans - Financial Times
• Fed May Take Chance End to Purchases of Mortgage Debt Won't Hurt Housing – Bloomberg
• Weber Says ECB Could Take Further Steps to Exit Stimulus in the First Half - Bloomberg
GBP/USD – The U.K. CBI monthly retail sales survey fell to -8 from 13 ending four months of improving demand. Forecasts were for a pullback to -2 as tight credit conditions are expected to continue to hinder consumption over the near-term. The additional shortfall is being blamed on extremely cold weather deterring shoppers. A VAT hike is also getting credit for the drop n spending and will continue to be a weighing factor with forecast for -1 next month. Nevertheless, BoE member Andrew Sentence in a speech today stated that the U.K. recovery started earlier than expected and that labor slack may be less than in the 80’s and 90’s which bodes well for future demand. The policy maker would also caution that the MPC must stand ready to adjust monetary policy as market conditions change. To discuss this and other topics, please visit the GBP/USD Forum.
EUR/USD – French consumer confidence slightly improved to -29 from -30 surpassing estimates for a decline to -31. The breakdown of the report revealed that the French are feeling better about their standard of living, savings capacity and unemployment. Optimism remains strong in the Europe’s largest economies as German business confidence remains strong. However, the ECB may remain on hold without the threat of inflation as other member of the E.U. continue to struggle. Although, committee member Axel Weber said that the bank may take further step[s to remove liquidity from the banking system in the first half of the year as the economy gather strength. To discuss this and other topics, please visit the EUR/USD Forum.
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