IFX Yana Posted January 23, 2012 Share Posted January 23, 2012 Economic Disparities Between UK Cities Growing: Report The economic gap between UK cities are widening, while they continued to face the impact of the economic downturn, research group Center for Cities said in a report on Monday. However, despite the sombre national forecast, there will be glimmers of growth from some cities this year, Cities Outlook, published in co-ordination with IBM and the LGA, said. The gap in the claimant count rate between Hull and Cambridge widened to 6.1 percentage points in November 2011 from 3.2 percentage points in February 2008, the report noted. The report also highlighted that there are six times more claimants in the most troubled neighborhood in Rochdale than there are in the most troubled neighborhood in Cambridge. Centre for Cities called on the Government to invest in those cities that are primed for growth. As these cities grow and create jobs, they will drive the national recovery. Cities that are facing more entrenched challenges will require different solutions and support from Government to give residents the skills needed to find jobs and start businesses, it said. Centre for Cities Chief Executive Alexandra Jones said "the year ahead is going to be tough for all UK cities but Cities Outlook 2012 shows that some cities are well-placed to kick-start economic growth." Cities like Milton Keynes and Aberdeen are well placed to drive the national economic recovery in this difficult economic climate, the report noted. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted January 24, 2012 Share Posted January 24, 2012 EUR/USD On Correction Mode At Key Levels EUR/USD's overnight rally was briefly corrected in the early Asian session but the pair managed to hold above its 23.6 percent retracement level between a high on October 27, 2011 and a low on January 13. The euro advanced yesterday as German bill auction attracted solid demand, selling EUR 2.54 billion of 12-month bills at an average yield of 0.07 percent. However, caution on Greece pressured the pair to trim gains in early Asian deals on Tuesday, hitting as low as 1.2989. Subsequently, the pair reverted to above yesterday's closing value of 1.3016 ahead of the European session. The pair is presently hovering around the 1.3025 area and the immediate barrier could be at its 50-day SMA of 1.3110. A move above this level could position to pair to test the 38.2 percent retracement level at 1.3250. PMI data from major eurozone economies and Spanish short-term bill auctions would be the key drivers for the common currency in the London session. Eurostat's industrial new orders report for November is also set to garner some market attraction. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted January 25, 2012 Share Posted January 25, 2012 European Economics Preview: German Ifo Business Confidence, U.K. GDP Data Due A slew of statistical reports are scheduled to be released on Wednesday, headlining a hectic day ahead. Business confidence data from Germany and quarterly national account figures from the U.K. are set to dominate the scene. At 3.00 am ET, Spain's statistical office INE is set to issue producer price figures for December. Economists forecast producer price inflation to ease to 5.2 percent from 6.3 percent in November. Hungary's retail sales figures are also due at 3.00 am ET. Retail sales are forecast to fall 0.1 percent annually in November after rising 0.6 percent in October. German Ifo business confidence survey results are due at 4.00 am ET. Business confidence is seen rising to 107.6 in January from 107.2 in December. Likewise, the current conditions index is expected to rise to 116.8 from 116.7 a month ago. Italy's retail sales figures are also due at the same time. Economists forecast retail sales to fall 0.2 percent month-on-month in November after rising 0.1 percent in October. First estimates for the U.K. GDP is due from the Office for National Statistics at 4.30 am ET. The economy is forecast to shrink 0.1 percent sequentially in the fourth quarter, following the 0.6 percent expansion in the fourth quarter of 2011. In the meantime, the Bank of England is set to publish the minutes of the January monetary policy meeting. The bank has left the size of quantitative easing unchanged at GBP 275 billion and its interest rate at a historic low of 0.50 percent. Germany is set to step into the debt market today with an issue of 30-year bonds. The government aims to raise EUR 3 billion from the current auction. The Confederation of British Industry is scheduled to issue Industrial Trends survey data at 6.00 am ET. The total order book balance is expected remain unchanged at -23 percent in January. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted January 26, 2012 Share Posted January 26, 2012 European Economics Preview: German GfK, Italian Debt Auction In Focus German consumer confidence survey results from market research group GfK and an Italian debt auction are the main news on tap for Thursday. At 2 am ET, GfK is expected to release the results of its consumer survey for the month of February. The sentiment index is forecast to remained unchanged at 5.6. French statistical office Insee is scheduled to release the results of the latest business and consumer confidence surveys at 2.45 am ET. Economists forecast the consumer confidence index to remain steady at 80 compared to that in the previous survey. Sweden's National Institute of Economic Research (NIER) is slated to publish the economic tendency survey results at 3.15 am ET. The economic sentiment index is expected to rise to 93 in January from 92.8 in December. Swedish producer price figures, unemployment data and trade balance are due at 3.30 am ET. Italian consumer confidence survey results are expected at 4 am ET. The Italian Treasury is scheduled to auction its zero coupon bond (CTZ) and inflation linked treasury bonds (BTP?i) today, aiming to achieve as much as EUR 5 billion sales. The agency will put on sale CTZ maturing in January 2014 with an aim to raise between EUR 3.5 billion and EUR 4.5 billion. The issue of 2.15 percent September 2014 bonds are targeted to raise EUR 250 million to EUR 500 million. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted January 27, 2012 Share Posted January 27, 2012 Euro Zone Fire Walls are Strong Enough, No Boost needed says Germany's Schaeuble News European fire walls are high and strong enough currently and doesn't require any strengthening said German Fin min Schaeuble. He said that only 43.7 bln euors of total 440 bln has been used and it is not prudent to call for raising walls with every new beat of information Quotes "What speaks against this discussion (to boost the volume) is the that we shouldn't be chasing after the latest fad every week," "Everything at the moment suggests that the rescue measures are sufficient," German Finance Minister Wolfgang Schaeuble More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted January 30, 2012 Share Posted January 30, 2012 European Economics Preview: Eurozone Economic Sentiment Data Due Economic confidence data from Eurozone and preliminary inflation figures from Germany are the major statistical reports due on Monday, headlining a light day for the European economic news. At 2.00 am ET, Germany's Federal Statistical Office is scheduled to issue wholesale turnover figures for the fourth quarter and 2011. Spain's statistical office INE is slated to release GDP figures for the fourth quarter at 3.00 am ET. According to the estimates of the Bank of Spain, the economy shrank 0.3 percent sequentially in the fourth quarter. The Italian government is set to hold a debt auction at 5.00 am ET. It aims to raise up to EUR 8 billion. Late Friday, Fitch downgraded Spain's long-term debt rating to 'A' from 'AA-'. The auction includes bonds maturing on March 2022 and other two maturing on April 2016 and March 2021. A new bond maturing in May 2017 is also slated for the day. The European Commission is set to publish monthly economic sentiment survey results at 5.00 am ET. Eurozone economic confidence is seen rising to 93.8 in January from 93.3 in December. Likewise, business sentiment is forecast to improve to -0.25 from -0.31 a month ago. Germany's preliminary inflation figures for January are due later today. Economists forecast harmonized annual inflation to rise to 2.4 percent in January from 2.3 percent in December. On a monthly basis, the harmonized index of consumer prices is forecast to drop 0.4 percent. EU leaders and finance ministers are set to meet in Brussels today. The informal meeting will discuss the steps to be taken by the EU in order to overcome the current debt crisis and tackle its consequences. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted January 31, 2012 Share Posted January 31, 2012 European Economics Preview: German Unemployment Data Due Unemployment figures from Germany and Eurozone and mortgage approvals from the U.K. are the major statistical reports due on Tuesday, headlining a busy day for the European economic news. At 2.00 am ET, the Federal Statistical Office is scheduled to issue German retail sales figures for December. Economists forecast retail sales to rise 0.8 percent month-on-month after easing 1 percent in November. French consumer spending and producer prices are due at 2.45 am ET. Consumer spending is forecast to rise 0.2 percent month-on-month after falling 0.1 percent in November. Producer price inflation is seen slowing to 4.7 percent annually in December from 5.6 percent in November. Spain's flash HICP and Hungary's PPI and unemployment reports are due at 3.00 am ET. Economists forecast Spanish inflation to slow slightly to 2.3 percent in January from 2.4 percent in December. The Federal Labor Agency is set to release German unemployment data at 3.55 am ET. The number of unemployed is forecast to fall by 10,000 in January. The seasonally adjusted jobless rate is seen stable at 6.8 percent. At 4.00 am ET, Norway's retail sales and C2 credit indicator figures are due. Retail sales growth is seen at 2.2 percent annually, faster than the 0.9 percent increase in November. The Bank of England is set to publish mortgage approvals figures at 4.30 am ET. The number of mortgage approvals is seen at 54,000 in December compared to 52,900 in November. M4 money supply data is also due at the same time. Eurozone jobless data for December is due from Eurostat at 5.00 am ET. The unemployment rate is forecast to rise to 10.4 percent from 10.3 percent in November. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 1, 2012 Share Posted February 1, 2012 Euro Extends Slide Against Most Majors The euro extended its Tuesday's decline against most major currencies in early Asian deals on Wednesday amid weak U.S. economic data and uncertainty about Greece's debt crisis. The euro that closed Tuesday's New York session at 99.81 against the yen fell to a 9-day low of 99.46 in Asian deals. The next downside target level for the euro-yen pair is seen at 99.0. Against the Swiss franc, the euro slipped to a fresh 4- 1/2 -month low of 1.2034, compared to Tuesday's close of 1.2040. If the euro-franc pair weakens further, it will break 1.20 and target the 1.180 level. The euro declined to a fresh multi-year low of 1.5823 against the New Zealand dollar with 1.50 seen as the next downside target level. At yesterday's close, the euro-kiwi pair was quoted at 1.5841. The euro dropped to 9-day lows of 1.2290 against the Australian dollar and 1.3093 against the Canadian dollar, compared to yesterday's close of 1.2326 and 1.3122, respectively. The next downside target level for the euro is seen at 1.223 against the aussie and 1.306 against the loonie. But the euro moved sideways against the US dollar and pound after falling to multi-day lows yesterday. The euro is currently worth 1.3071 against the dollar and 0.8296 against the pound, compared to yesterday's close of 1.3085 and 0.8303, respectively. Investors now focus on the European session, in which U.K. Nationwide house price index for January, Swiss retail sales for December, final PMI reports for January from major European economies and the Eurozone CPI estimate for January are slated for release. The U.S. ISM manufacturing index and ADP employment report - both for January and the construction spending for December are expected in the New York morning session. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 2, 2012 Share Posted February 2, 2012 European Economics Preview: Eurozone Producer Price Data Due Producer prices from Eurozone and Purchasing Managers' survey results from the U.K. are the major reports due on Thursday, headlining a light day for the European economic news. In addition, Spain and France are set to conduct debt auctions. At 2.00 am ET, the Federal Customs Administration is slated to publish Swiss December trade data. The trade surplus is expected to fall to CHF 2.5 billion from CHF 2.95 billion in November. U.K. CIPS/Markit construction Purchasing Managers' survey results are due at 4.30 am ET. The indicator is seen rising to 52.5 in January from 53.2 in December. Spain is set to raise EUR 3.5 billion to EUR 4.5 billion through a bond auction at 4.30 am ET. The issue includes bonds maturing on January 2017, July 2015 and October 2016. At 4.50 am ET, France is set to issue longer term bonds or OATs. The Agence France Tresor will auction bonds with 7, 8, 10 years maturity. The agency aims to raise between EUR 6.5 billion and EUR 8 billion. At 5.00 am ET, Eurostat is scheduled to issue euro area producer price figures for December. Producer price inflation is forecast to slow to 4.3 percent in December from 5.3 percent in November. On a monthly basis, producer prices are expected to drop 0.1 percent. The Czech National Bank is set to announce its interest rate decision at 7.00 am ET. The central bank is widely expected to retain the rate at 0.75 percent. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 3, 2012 Share Posted February 3, 2012 China Intensifies Opposition to Iran Sanctions, Calls for Dialogue to Resolve Issue News China's People's Daily stepped up Beijing's opposition to tighter sanctions against Iran, warning that such moves are hurting energy markets and could stifle the global economic recovery. Reports come a day after German Chancellor Angela Merkel urged Beijing to use its influence to persuade Iran to give up its nuclear weapons programme. The commentary reiterated China's stance that dialogue should be used to resolve the Iranian nuclear issue More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 6, 2012 Share Posted February 6, 2012 European Economics Preview: German Factory Orders Data Due Industrial orders from Germany and Eurozone sentix investor confidence are the major reports due at the start of the week, headlining a light day for the European economic news. The Czech statistical office is slated to release industrial and construction output figures at 3.00 am ET. After rising 5.4 percent in November, industrial production is forecast to grow 1.5 percent annually. The Society of Motor Manufacturers and Traders is set to publish U.K. new car registrations data for January at 4.00 am ET. Registrations were down 3.7 percent in December. Eurozone sentix investor confidence is due at 4.30 am ET. The confidence index had fallen to -21.1 in January from -24 in December. At 6.00 am ET, Germany's Federal Ministry of Economy and Technology is scheduled to issue factory orders for December. Economists forecast industrial orders to grow 1 percent month-on-month after falling 4.8 percent in November. On a yearly basis, a 0.8 percent fall is expected. At 9.00 am ET, French T-bill auction is due. The government aims to raise EUR 2.1 billion from 182-day T-bills and EUR 2.2 billion from 364-day bills. Also, it will issue EUR 4.2 billion 91-day bills. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 8, 2012 Share Posted February 8, 2012 European Economics Preview: German Trade, Debt Auction In Focus Foreign trade figures from Germany and unemployment data from Switzerland are the major European statistical data due on Wednesday. Further, Germany is set to auction its 5-year Federal Notes today, aiming to raise EUR 4 billion. Switzerland's State Secretariat for Economic Affairs (SECO) is slated to publish the January unemployment figures at 1.45 am ET. At 2 am ET, German trade data is due. The trade balance is forecast to post EUR 13.8 billion surplus in December. Exports are seen declining 1 percent from a month earlier, while a growth of 1 percent is forecast for imports. Bank of France is scheduled to release the business sentiment survey results at 2.30 am ET. Economists expects the sentiment indicator to remain unchanged at 96. Czech unemployment, Spain industrial production, Hungary foreign trade and Turkey industrial production are due at 3 am ET. Interest rate decision from the Central Bank of Iceland is expected at around 4 am ET. Base rate announcement from the National Bank of Poland is also due later in the day. Germany is set to hold an auction of its 0.75 percent 5-year Federal Notes or Bobls at 5.30 am ET. The country is aiming to raise EUR 4 billion from the sale of the debt due February 2017. The previous tap on the line was on January 11, which was met with strong demand. The yield on the 5-year paper had declined to 0.90 percent and demand was 2.8 times the offer. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 9, 2012 Share Posted February 9, 2012 European Economics Preview: ECB, BoE Rate Decisions On Focus Outcome of the monetary policy meetings of the Bank of England and the European Central Bank are the major events that are set to dominate the scene on Thursday. At 1.45 am ET, Swiss consumer sentiment is due. Consumer confidence is forecast to improve to -22 in January from -24 in the prior quarter. Statistics Netherlands is set to issue January consumer prices at 3.30 am ET. Annual inflation is expected to rise to 2.6 percent from 2.4 percent in December. The Office for National Statistics is scheduled to issue U.K. industrial output figures at 4.30 am ET. Industrial output is expected to grow 0.2 percent month-on-month in December, following a 0.7 percent drop in November. In the meantime, external trade figures from U.K. are due. The visible trade deficit is seen at GBP 8.6 billion in December compared to GBP 8.64 billion in November. The BoE is widely expected to lift the size of quantitative easing by GBP 50 billion to GBP 325 billion. The interest rate is seen unchanged at a record low of 0.50 percent. The announcement is due at 7.00 am ET. The European Central Bank is set to announce its decision at 7.45 am ET. Economists widely expect policymakers to maintain the rate at 1.00 percent. ECB President Mario Draghi is set to hold a the regular post-decision press conference at 8.30 am ET. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 13, 2012 Share Posted February 13, 2012 European Economics Preview: German Wholesale Price Data Due Wholesale price data from Germany and producer prices from Switzerland are the reports due on Monday, headlining a light day for the European economic news. Further, the German government is set to raise EUR 4 billion from a Bubill auction. Over the weekend, Greek lawmakers approved a highly unpopular package of austerity measures, paving the way for its international creditors to release EUR 130 billion in aid to the troubled euro member. At 2.00 am ET, the Federal Statistical Office is scheduled to issue German wholesale price figures for January. Wholesale prices had increased 3 percent in December. Swiss producer and import prices are due at 3.15 am ET. Producer and import prices are forecast to rise 0.2 percent month-on-month in January after rising 0.3 percent in December. On a yearly basis, it is expected to drop 2.2 percent. At 4.00 am ET, the Czech central bank is scheduled to release current account figures. The account is expected to show a deficit of CZK 3.25 billion in December compared to a surplus of CZK 6.61 billion in November. The German government is slated to conduct new 6-month Bubill auction at 5.00 am ET, with an aim to raise EUR 4 billion. Poland's central bank is set to issue current account figures at 8.00 am ET. The current account deficit is seen at EUR 1.17 billion in December compared to EUR 1.034 billion shortfall in November. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 14, 2012 Share Posted February 14, 2012 European Economics Preview: German ZEW Economic Sentiment Survey Results Due Economic sentiment survey results from Germany and inflation figures from the U.K. are the major statistical reports due on Tuesday. In addition, Spain and Italy are expected to step into the debt market after Moody's downgraded their sovereign ratings. Hungary's statistical office is scheduled to issue inflation and final industrial output figures. Annual inflation is expected to accelerate to 5 percent in January from 4.1 percent in December. At 4.30 am ET, U.K. inflation figures are due. Annual inflation is forecast to slow notably to a 14-month of 3.6 percent in January from 4.2 percent in December. As inflation probably remained more than one percentage point above 2 percent for three straight months since Bank of England Governor Mervyn King wrote his last open letter, King is expected to write another letter to Chancellor George Osborne this week. In the meantime, Spain is set to auction T-bills maturing in one year and 18 months. The 12-month bill auction is set to raise between EUR 2.5 billion and EUR 3 billion and 18-month bills to collect between EUR 1.5 billion and EUR 2 billion. The rating agency Moody's has downgraded Spain, Italy and four other eurozone nations on Monday. Elsewhere, Standard & Poor's lowered its investment-grade credit ratings on 15 Spanish banks, a month after it cut its ratings on Spain. The Mannheim based Centre for European Economic Research is scheduled to issue German economic sentiment survey data at 5.00 am ET. The economic confidence is seen improving to -11.8 in February from -21.6 in January. In the meantime, Eurostat is scheduled to issue industrial production for the euro area. Economists forecast industrial output to fall 1.2 percent month-on-month in December after rising 0.1 percent in November. The Italian government is set to raise between EUR 5 and EUR 7 billion from medium-long term debt auction. At the same time, Greece 13-weeks T-bill auction is also due. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 15, 2012 Share Posted February 15, 2012 European Economics Preview: Eurozone GDP Data Due Quarterly national accounts from Eurozone and other major member nations and Inflation Report from the Bank of England are the major reports due on Wednesday, headlining a hectic day for the European economic news. At 1.30 am ET, the French statistical office Insee is scheduled to issue fourth quarter GDP data. Economists forecast the economy to shrink 0.2 percent sequentially. Half an hour later, German GDP figures are due. The largest Eurozone economy is expected to contract 0.3 percent quarter-on-quarter after expanding 0.5 percent in the third quarter. Annually, the growth is seen slowing to 1.9 percent. At 3.00 am ET, a slew of statistical reports are due. GDP figures from Hungary and the Czech Republic and inflation data from Spain are due. Czech GDP is expected to remain flat sequentially in the fourth quarter. Meanwhile, Hungary's economy is expected to grow 0.9 percent annually. Italy's statistical office Istat is slated to publish quarterly national accounts at 4.00 am ET. The GDP is estimated to fall 0.6 percent in the fourth quarter after contracting 0.2 percent a quarter ago. At 4.30 am ET, the Office for National Statistics is set to release U.K. labor market statistics for January. The claimant count rate is seen unchanged at 5 percent in January. The number of people claiming jobseekers' allowance is forecast to rise 3,000 in January. Eurostat is set to issue Eurozone fourth quarter GDP data at 5.00 am ET. The 16-nation currency bloc is forecast to shrink 0.4 percent quarterly, following third quarter's 0.1 percent expansion. The Bank of England is scheduled to issue Inflation Report at 5.30 am ET. The publication of the quarterly report will be followed by a press conference. The report will provide more understanding about inflation and output projections and its future course of action on quantitative easing. The Portuguese government plans to raise between EUR 2.5 billion and EUR 3 billion from T-bill auction at 5.30 am ET. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 16, 2012 Share Posted February 16, 2012 European Economics Preview: ECB Monthly Bulletin, French Debt Auction Due The European Central Bank's monthly bulletin is due today. In addition, France and Spain are set to enter the debt market to raise as much as EUR 14.3 billion. At 2.00 am ET, the European Automobile Manufacturers' Association, or ACEA is scheduled to issue Europe's new car registration data for January. Registrations were down 6.4 percent in December. At 3.00 am ET, the Czech Statistical Office is scheduled to issue consumer price figures for January. Annual inflation is forecast to rise to 3.2 percent from 2.4 percent in December. In the meantime, Turkey's consumer confidence and Spain's final GDP reports are due. Half an hour later, Sweden's central bank is set to announce its interest rate decision. Riksbank is expected to cut its repo rate to 1.5 percent from 1.75 percent. At the same time, Sweden's inflation figures are also due. Annual inflation is forecast to remain at 2.3 percent in January. The European Central Bank is slated to publish monthly bulletin at 4.00 am ET. Last week, the central bank maintained its record low 1.00 percent interest rate for the second month in a row. In the meantime, Italy's trade and Norway's GDP figures are due. Mainland Norway is forecast to grow 0.5 percent sequentially in the fourth quarter after rising 1 percent in the third quarter. The Spanish government plans to raise as much as EUR 4 billion in securities maturing in January and July 2015 and October 2019. The French government plans to raise a maximum of EUR 8.5 billion in 2-year, 3-year and 5-year bonds. It will also auction index-linked bonds to raise EUR 1.8 billion. The results of the auction are due at 4.50 am ET. Moody's on Monday downgraded the rating of Spain and five other Eurozone countries, citing the uncertainty over the euro area's prospects for institutional reform. Moreover, the agency lowered the outlook on the triple-A ratings of France to 'negative'. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 17, 2012 Share Posted February 17, 2012 Research: limited Downside for Usd/cad Quotes from RBC Capital Markets: -RBC's forecast is for USD/CAD to linger below parity to mid-year, with a trough of 0.98 in Q1. -However, short of another distinct and material improvement in market risk sentiment, there are limits to the downside for USD/CAD. -Specifically, key commodity prices that are relevant to Canada and CAD highlight that the domestic terms of trade are only marginally improving. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 21, 2012 Share Posted February 21, 2012 European Economics Preview: U.K. Public Sector Finance Data Due Public sector finance from the U.K. is the major statistical report due on Tuesday, headlining a light day for the European economic news. Elsewhere, Spain is set to raise a maximum EUR 4 billion from the issue of short-term debt. Earlier in the day, Eurozone finance ministers reached an agreement over a second bailout worth EUR 130 billion for Greece. At 2.00 am ET, the Federal Customs Administration is slated to release Swiss external trade data. The trade surplus is forecast to rise to CHF 2.5 billion in January from CHF 2.01 billion in December. In the meantime, Statistics Finland is scheduled to issue labor force survey results for January. Swiss M3 money supply for January is due from the Swiss National Bank at 3.00 am ET. M3 money supply growth accelerated to 7.7 percent in December from 7.3 percent in November. In the meantime, Hungary's gross wages for December are due. Economists forecast gross wages to rise 6.2 percent annually compared to November's 6 percent growth. At 4.30 am ET, the Office for National Statistics is set to issue public sector borrowing figures. U.K. public sector net borrowing, excluding interventions, are seen at -GBP 6.3 billion in January compared to GBP 13.7 billion in December. Elsewhere, Spain is set to enter the debt market. The government aims to get EUR 1.5 billion from 3-month treasury bills and EUR 2.5 billion from 6-month treasury bills. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 22, 2012 Share Posted February 22, 2012 China Manufacturing Sector Contracts For Fourth Month China's factory activity shrank for a fourth consecutive month in February, as weak domestic demand as well as external weakness added downside risks to growth, a survey by Markit Economics revealed Wednesday. The rate of contraction in the manufacturing activity, however, eased with the HSBC flash manufacturing purchasing managers' index rising to a four-month high of 49.7 in February from 48.8 in January. Nevertheless, with the reading being below 50, the sector is experiencing contraction. The manufacturing output index was also at a four-month high of 50.1, bouncing back from 47.6 in January. While output remained broadly unchanged, new orders continued to contract. New export orders shrank in February following an improvement in the previous month. Growth remains on track of slowdown, despite the marginal improvement in the headline flash PMI led by quickened production after the Chinese New Year, HSBC chief economist Hongbin Qu said. "With a meaningful rebound of domestic demand not in sight, external weakness is starting to bite, adding more downside risks to growth," the economist said, adding the People's Bank of China after delivering this year's first RRR cut, should step up policy easing as inflation pressures continue to ease. Input prices remained unchanged during the month, while output prices continued to fall, albeit at a moderate pace, according to the survey. Last week, the People's Bank of China decided to cut the banks' reserve requirement rate by 50 basis points for the second time in three months to boost lending amid sluggish economic growth. The new CRR at 20.5 percent for large commercial banks will be effective from February 24. The Chinese economy expanded 8.9 percent in the fourth quarter of 2011, the slowest pace in more than two years, as a result of sluggish external demand and Beijing's past policy tightening to contain inflation and property prices. Despite the slowdown in growth, the central bank refrained from an interest rate reduction. According to the latest official data, inflation accelerated for the first time in six months in January, triggered by higher spending during the Lunar new years holidays. Inflation rose to a three-month high of 4.5 percent year-on-year in January from the 4.1 percent in the previous month. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 24, 2012 Share Posted February 24, 2012 European Economics Preview: German, U.K. GDP Data Due Revised quarterly national accounts data from Germany and the U.K. are expected to dominate the economics scene on Friday. Elsewhere, Italy is set to enter the debt market today with a bond auction. At 2.00 am ET, the Federal Statistical Office is scheduled to release German final GDP figures for the fourth quarter. The prior estimate showed a 0.2 percent quarterly contraction in the fourth quarter GDP. French consumer confidence survey results are due at 2.45 am ET. The consumer sentiment is seen rising to 82 in February from 81 a month ago. The Czech statistical office is set to publish consumer and business confidence survey data at 3.00 am ET. In the meantime, Spain's producer prices and Hungary's retail sales are due. Spain's producer price inflation is seen at 4.3 percent in January, down from 5.2 percent in December. At 4.00 am ET, Italy's retail sales for December are due. On a monthly basis, sales are forecast to drop 0.5 percent month-on-month after falling 0.3 percent in November. Half an hour later, second estimates of U.K. GDP is due from the Office for National Statistics. According to the previous estimate, the economy contracted 0.2 percent sequentially in the fourth quarter. Italy is slated to raise a maximum of EUR 3 billion from the auction of Zero Coupon Bonds maturing on January 2014. The government also plans to issue inflation indexed bonds, with a maximum target of EUR 1.5 billion. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 27, 2012 Share Posted February 27, 2012 European Economics Preview: Eurozone M3 Data Due Producer prices from France and private sector credit from Eurozone are the major statistical reports due at the start of the week, headlining a light day for the European economic news. The meeting of G20 finance ministers and central bank governors held over the week end in Mexico demanded Europe to strengthen its bailout fund before leading economies provide extra support to raise the resources of the International Monetary Fund. At 2.45 am ET, the French statistical office Insee is scheduled to issue producer price figures for January. Annually, producer prices are forecast to rise 4.1 percent after increasing 4.7 percent in December. The European Central Bank is scheduled to issue euro area M3 money supply for January at 4.00 am ET. Annual growth in M3 is forecast to rise to 1.8 percent from 1.6 percent in December. In the meantime, Italy's business confidence is due. Business sentiment is forecast to fall to 92 in February from 92.1 a month ago. Germany's Bubill auction is due at 5.00 am ET. The government target to raise EUR 3 billion from the issue of securities maturing on February 2013. In the meantime, Italy aims to raise a maximum of EUR 8.75 billion from 6-month treasury bill auction and EUR 3.5 billion from flexible T-bills. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 28, 2012 Share Posted February 28, 2012 Japan Retail Sales Rise Unexpectedly On Vehicle Demand Retail sales in Japan increased unexpectedly in January due to a surge in motor vehicle sales, data from the Ministry of Economy, Trade and Industry showed Tuesday. Sales rose 1.9 percent year-on-year in January, against economists' expectations for a 0.1 percent decline. This was the second consecutive increase after a 2.5 percent rise in December. Sales of motor vehicles climbed 24.3 percent from January last year. This followed a 14.9 percent increase in December. Clothing sales increased 1.4 percent annually, while sales of food articles rose 0.6 percent. Meanwhile, sales of machinery and equipment, general merchandise as well as fuel declined during the month. Large retail store sales were down by an annual 1 percent. This was, however, better than the forecast for a fall of 1.1 percent after an upwardly revised 0.3 percent decline in December. The data also showed that wholesale sales were down 3.6 percent on year and commercial sales lost an annual 2.1 percent. Following the upbeat retail sales data, yen advanced against other major currencies in early Asian deals today. Earlier this month, the central bank increased the size of its asset purchase by JPY 10 trillion to JPY 30 trillion, after the economy contracted more than expected by 0.6 percent in the fourth quarter. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted February 29, 2012 Share Posted February 29, 2012 Japan Housing Starts Decline Again Japan's housing starts decreased for the fifth consecutive month in January, but at a slower-than-expected pace, data from the Ministry of Land, Infrastructure, Transport and Tourism showed Wednesday. Housing starts fell 1.1 percent year-on-year in January. However, the rate of decline was weaker than the 3.3 percent drop expected by economists and 7.3 percent fall recorded in December. The seasonally adjusted annualized housing starts totaled 822,000 in January compared to 783,000 a month ago. Economists expected an increase to 808,000. Construction orders received by 50 big constructors in Japan surged 24.6 percent from last year after slowing to a growth rate of 1.5 percent in December. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted March 1, 2012 Share Posted March 1, 2012 European Economics Preview: Eurozone Flash Inflation, Unemployment Data Due Flash inflation, unemployment and results of the Purchasing Managers' survey from Eurozone are due on Thursday, headlining a hectic day for the European economic news. At 1.30 am ET, the French statistical office Insee is scheduled to issue ILO jobless rate for the fourth quarter. The jobless rate is forecast to rise to 9.6 percent from 9.3 percent in the prior quarter. Swiss GDP figures are due from the Federal Statistical Office at 1.45 am ET. Economists expect the economy to shrink 0.1 percent sequentially in the fourth quarter. At 2.00 am ET, Ireland's manufacturing PMI for February is due. Hungary's Central Statistical Office is slated to release producer price data at 3.00 am ET. Producer price annual inflation is seen rising to 8.2 percent in January from 7.5 percent in December. In the meantime, manufacturing PMI figures from Poland, Turkey and Norway are due. At 3.45 am ET, Markit Economics is set to publish Italy's manufacturing PMI. The index is forecast to rise to 47.1 in February from 46.8 a month ago. Final French and German manufacturing PMI figures are due at 3.50 and 3.55 am ET, respectively. The Eurozone manufacturing PMI, due at 4.00 am ET, is expected to match the flash estimate of 49 in February. Half an hour later, U.K. Markit/CIPS manufacturing PMI is due. The index is seen easing to 52 from 52.1 in January. In the meantime, auction results from Spain and France are due. The Spanish government plans to obtain funds in the range of EUR 3.5 billion and EUR 4.5 billion. The treasury will issue bonds maturing in 2014, 2015 and 2016. The French debt management agency AFT aims to raise a maximum EUR 8 billion from the issue of long-term bonds. Eurostat is set to release Eurozone flash inflation and unemployment data at 5.00 am ET. Inflation is seen at 2.6 percent in February, the same rate as in January. The jobless rate is forecast to remain unchanged at 10.4 percent in January. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
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