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- Mar, 08 German Industrial Production Disappoints, As Construction Suffers.
- Mar, 05 Rising UK Factory Gate Prices May Force BoE to End QE
- Mar, 04 Pound Upside Potential Increases With BoE Hold
- 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
- Feb, 11 ECB Raises Forecasts For Growth and Inflation But Deem Rates Appropriate
- Feb, 10 BoE Leaves Door Open For Further QE
- 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
The U.K. trade deficit unexpectedly widened to £7987M from £7010M as exports slumped. Demand from abroad for chemicals and other commodities led to the increases shortfall. Severe weather contributed slowed ports and could be a source of the weakness.
Fundamental Headlines
• Venture-Capital Firms Caught in Shakeout – Wall Street Journal
• EU Leaders Call for CDS Supervision – Wall Street Journal
• Beijing says it will keep buying US debt - Financial Times
• Stocks Drop as Earnings Miss Estimates; Commodities Fall, Yen Strengthens - Bloomberg
• Fannie Mae Mortgage-Bond Spreads Trade at Lowest on Record: Credit Markets - Bloomberg
GBP/USD – The U.K. trade deficit unexpectedly widened to £7987M from £7010M as exports slumped. Demand from abroad for chemicals and other commodities led to the increases shortfall. Severe weather contributed slowed ports and could be a source of the weakness. Nevertheless, considering the pound’s weakness British goods are expected to have been more attractive. The BoE continues to remain on hold regarding monetary policy but has left the door open for additional quantitative easing as they see considerable slack in the economy. To discuss this and other topics, please visit the GBP/USD forum.
USD/CHF– Swiss consumer prices rose 0.9% from a year ago in February, which was the third straight month of price growth. However, inflation decelerated from 1.0% to 0.9% despite a 0.1% increase during the month. Economist were expecting a 0.2% increase over February with the annualized rate holding at 1.00%. The cost of services rose 0.4% which accounts for 58% of the contribution to total prices. Weakness in leisure and durable goods is evidence that consumers and businesses are using considerable discretion in their purchases. Subdued inflation will keep the SNB on alert and increases the chances that they could intervene in currency markets in an attempt to depreciate the Franc.
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