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- Friday, 16 October 2009 19:40:03 GMT Will Crude Salvage its Bullish Drive and Extend the Strongest Rally Since July?
- Friday, 16 October 2009 11:44:15 GMT Canada's Consumer Prices Decline for 4th Month; Leaving BOC on Hold
- Friday, 16 October 2009 07:52:07 GMT Swiss Retail Sales Indicate Slow Economic Growth
- Friday, 16 October 2009 07:10:05 GMT Oil Retains Momentum into Week-End, Metals Vulnerable to Further Downside
- Friday, 16 October 2009 04:57:15 GMT Antipodean Star Still Shines for Now (Opening Comment)
- Friday, 16 October 2009 04:15:09 GMT Overnight Interest Rate Update 10.16.09
- Thursday, 15 October 2009 18:27:04 GMT A Drop in Gas Inventories Extends Crude Oil's Rally to a Sixth Session
- Thursday, 15 October 2009 11:47:02 GMT Overnight Interest Rate Update 10.15.09
- Thursday, 15 October 2009 05:24:16 GMT Sterling Finally Plays Catch-Up (Morning Slices)
- Thursday, 15 October 2009 7:15:09 GMT Oil, Metals Diverge as US Dollar Stages Uneven Rebound - Where to From Here?
- Thursday, 15 October 2009 05:42:54 GMT ECB Monthly Report: 3Q Expected to Grow at 0.1% versus 2Q
- Thursday, 15 October 2009 08:28:00 GMT USD Graphic Rewind
- Thursday, 15 October 2009 05:24:16 GMT Euro Set to Test 1.5000 (Opening Comment)
- Wednesday, 14 October 2009 18:31:01 GMT Crude Marks New Year High, Extends Five-Day Rally as Dow Advances Fills in for Delayed Output Numbers
- Wednesday, 14 October 2009 14:24:37 GMT Business Inventories Fall for 12th Month
- Wednesday, 14 October 2009 13:08:21 GMT U.S. Retail Sales Fall Less Than Expected On Broader Demand
- Wednesday, 14 October 2009 11:24:58 GMT Overnight Interest Rate Update 10.14.09
- Wednesday, 14 October 2009 11:14:50 GMT European Industrial Production Rises, Adds Too Recovery Signs
- Wednesday, 14 October 2009 10:23:33 GMT Greenback Finds No Relief in Overnight Trade (Morning Slices)
- Wednesday, 14 October 2009 04:10:16 GMT UK Claimant Count Rate Holds Flat; Jobless Claims Falls to 20.8K
BoE's King said deflation is not part of the MPC's central CPI projection and said that although there's a risk of negative price growth, such a scenario should only be last for a short period. There has been increased concerns of deflation over the past year, with CPI set to fall sharply next year. Governor King has previously admitted that retail price inflation is likely to turn negative due to the sharp cut in interest rates in October and November. In addition, he said the pre-budget report measures will mitigate the economic slowdown next year but that the VAT cut will lower inflation in the short run. Speaking in front of the Treasury Committee today in an Inflation Report hearing, King stressed that lending to households and businesses has been seriously disrupted and that the most pressing issue to ensure normal lending resumed.
Meanwhile, Pound (GBP) maintained familiar ranges, with Cable holding above 1.5100 after it recorded 1.5187 highs in early Asia. The pair reverted to 1.5070 in early European trade amid profit taking activity, but dip buying lifted the pair to 1.5160 before it settled around the 1.5100-20 zone. Meanwhile, EUR-GBP traded on a supportive footing close to 0.8500 after it rejected 0.8525 earlier. GBP-JPY is being dominated by persistent interest to buy JPY on dips, while GBP-CHF is relatively stable as the swissy continues to under perform. U.K. data remained on the soft side, with October BBA mortgage approvals coming in at 21.6k, which was down 52% y/y, while net mortgage lending reached 2.9 bln. Q3 business investment also fell 0.2% q/q after a 1.9% q/q drop in Q2. Elsewhere, comments from BoE MPC member indicated the potential for more aggressive cuts ahead, with Sentance stating that policy may counter deflation pressures and Bean also said that it may need to act more aggressively than usual.
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