IFX Yana Posted May 24, 2012 Share Posted May 24, 2012 France's Hollande Presents His Case, Realizes Ground Realities at European Summit France's Hollande presenred his case for Growth and joint euro bonds along with use of structural funds to shore up Greek growth but realised that there were not many takers for it at the summit of European leaders. He agreed with other leaders to urge Greece to continue walking on the agreed path which not many people in Greece believes in according to results of latest elections More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted May 25, 2012 Share Posted May 25, 2012 German Gfk Consumer Sentiment Remains steady in June Despite Turmoil The forward looking GfK consumer sentiment for Germany stayed at 5.7 in June as expected, after 5.6 in May. Business cycle expectations in May jumped to 19.6 from 8.5 defying all the bad news the Willingness to spend increased in May to 32.0 from 27.6 in the previous month Quotes On outlook "Consumers seem unfazed by the increased turbulence in the euro zone recently. The elections in France and Greece, which above all have unsettled the markets, have not damaged business cycle sentiment," "An important prerequisite for a sustained positive development of private consumption remains a robust labour market and here the signal is, as before, on green," On risk "The present uncertain situation of the debt crisis poses a potential risk for Germany's domestic economy," "Should the events involving Greece and other euro zone countries intensify further or even escalate, this could quickly bring the positive trend in consumption to a standstill," GfK More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 7, 2012 Share Posted June 7, 2012 Finnish Trade Gap Narrows Sharply In April Finland's unemployment rate decreased significantly in April, data released by the National Customs Board showed Thursday. The trade deficit dropped to EUR80 million in April from EUR160 million in March. In April 2011, the trade balance was a deficit of EUR350 million. Export of goods increased 2 percent annually to EUR4.695 billion in April. Shipments to the European Union states and Eurozone countries decreased 1 percent each during the month. The value of imports, meanwhile, decreased 3 percent annually to EUR4.775 billion in April. Arrivals from the European Union decreased 5 percent year-on-year, while imports from the Eurozone dropped 8 percent. In the January-April period, the trade balance was a deficit of EUR1.115 billion. Exports edged up 1 percent year-on-year during the four-month period, while imports remained broadly unchanged, data showed. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 8, 2012 Share Posted June 8, 2012 French Business Sentiment Drops For Second Month French business sentiment weakened for the second straight month in May, survey results from Bank of France showed Friday. The corresponding index came in at 93, in line with forecast, but down from the prior month's reading of 94. Likewise, confidence in services dipped to 92 from 93. The bank lowered its economic outlook. Gross domestic product is expected to contract 0.1 percent in the second quarter, revised downward by 0.1 percentage point. Forecasts are that industrial activity will slightly improve in the short term. Service sector activity is also expected to improve over the coming weeks. According to the survey, industrial activity declined, largely reflecting weakness in the automotive and metalworking sectors. While order books diminished due to lower demand, inventories are perceived as being slightly above targeted levels. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 11, 2012 Share Posted June 11, 2012 European Economics Preview: French Industrial Output Data Due Industrial production from France is the important statistical report due on Monday, headlining a light day for the European economic news. At 2.45 am ET, the French statistical office Insee is scheduled to issue industrial output figures. Economists forecast output to fall 0.1 percent month-on-month in April after easing 0.9 percent in March. The Czech Statistical Office is slated to issue consumer prices for May at 3.00 am ET. Annual inflation is seen easing to 3.1 percent from 3.5 percent in April. Romania's consumer prices and industrial output figures are also due. At 4.00 am ET, Italy's statistical office Istat is set to publish final GDP data for the first quarter. The economy shrank 0.8 percent sequentially, according to the preliminary data released on May 15. In the meantime, Norway's consumer and producer price figures are due. Germany's Bubill auction results are due at 5.30 am ET. The government is placing EUR 4 billion in 6-month Bubill. Больше FOREX-новостей на страницах InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 12, 2012 Share Posted June 12, 2012 Eu Barroso - Eu Needs Deeper Banking Integration European Commission President Barroso calls for EU banking integration within a year. He added that EU needed to take a "very big step" towards deeper integration if it was to learn the lessons of the sovereign debt crisis. The deeper integration plan would also include a regional deposit guarantee scheme and a rescue fund paid for by levies on financial institutions. The plan is likely to be implemented by 2013 without changes to the bloc's treaties, Barroso said. Barroso told the FT he believed there was greater appreciation in London and Berlin about the need for an EU-wide banking regime. However Britain says it will not join a banking union supervised by the EU and Germany. UK also argues over the requirement of EU treaty changes for which it wants specific safeguards in lieu More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 13, 2012 Share Posted June 13, 2012 Sweden Inflation Expectations Fall: Survey Inflation expectations among Sweden's labour market parties, purchasing managers and money market players have eased in June from March, results of a survey carried out by the market research firm TNS SIFO Prospera revealed Wednesday. All survey participants expect annual inflation to be 1.5 percent in the first year, which is less than 1.7 percent forecast in March. The expected figure for the second year was 1.9 percent, lower than 2 percent seen earlier. In five years, inflation is seen at 2.1 percent, down from 2.2 percent expected in March. The expectations on GDP growth was also lower in the latest survey. The GDP growth forecast for the first year was lowered to 1.4 percent from 1.6 percent. In the second year, the economy is seen expanding 2 percent, slower than the 2.3 percent expected earlier. Expectations on wage growth was unchanged from the March survey at 2.8 percent. The participants continue to expect the central bank to cut the benchmark interest rate, which is the repo rate, to 1.4 percent in 3-months time. They do not expect further easing in the policy rate in 12 months, but expect the central bank to raise it to 1.5 percent. The survey, which is commissioned by the Sveriges Riksbank, was carried out among 255 organisations. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 14, 2012 Share Posted June 14, 2012 European Economics Preview: SNB Rate Decision Due The Monetary Policy Assessment of the Swiss National Bank is set to dominate the scene on Thursday, headlining a busy for the European economic news. At 2.00 am ET, the Federal Statistical Office is scheduled to publish German wholesale price data for May. In the meantime, Finland's consumer price figures are due. Annual inflation is seen unchanged at 3.1 percent in May. The Swiss National Bank is set to announce its rate decision at 3.30 am ET. The central bank is likely to retain the interest rate close to zero. Also, the SNB is expected to maintain the minimum exchange rate of CHF 1.20 per euro. In the meantime, Dutch retail and external trade balance figures are due. Retail sales were up 2.2 percent year-on-year in March. At 4.00 am ET, the European Central Bank is set to release its monthly report for June. The ECB had maintained its key refi rate at a record low 1 percent at the meeting held on June 6. Eurostat is slated to release Eurozone final inflation data at 5.00 am ET. According to flash estimate, annual inflation fell to 2.4 percent in May from 2.6 percent in April. Eurozone first quarter labor cost data is also due. Italy's BTP auction results are due at 5.10 am ET. The government aims to raise between EUR 4 billion and EUR 6 billion. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 15, 2012 Share Posted June 15, 2012 European Economics Preview: Eurozone Foreign Trade Data Due Foreign trade figures from the U.K. and Eurozone are due on Friday, headlining a light day for the European economic news. At 2.00 am ET, the European Automobile Manufacturers' Association is slated to release Europe's new car registrations for May. Sales were down 6.9 percent in April. Sweden's AMV unemployment data is also due at 2.00 am ET. The jobless rate is expected to fall to 4.1 percent in May from 4.3 percent in April. At 3.00 am ET, the Czech Statistical Office is scheduled to publish producer prices for May. Producer price inflation is seen slowing to 1.8 percent from 2.2 percent in April. In the meantime, Hungary's industrial output figures are also due. External trade figures from Italy and Norway are due at 4.00 am ET. The Czech central bank is set to release current account data in the meantime. The balance is forecast to show a shortfall of CZK 3.55 billion in April compared to a surplus of CZK 10.65 billion in March. Half an hour later, the Office for National Statistics is slated to publish April foreign trade figures. The U.K. visible trade deficit is seen at GBP 8.5 billion. At 5.00 am ET, Eurozone foreign trade and employment reports are due. The trade surplus is expected to fall to EUR 4 billion in April from EUR 8.6 billion in March. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 18, 2012 Share Posted June 18, 2012 UK Property Asking Prices At New High, Rightmove Says Asking prices for a property in the United Kingdom rose to a new record high in June buoyed by strong price movements in London and South East, property website Rightmove said on Monday. Prices of new property coming to market was GBP 246,235, a third consecutive national record. This was 1 percent higher than a month earlier and 2.4 percent above last years' level. Strong rises in the south of the country have helped to push the national average asking price into new record territory, Rightmove Director Miles Shipside said. The report, meanwhile, observed that sellers' prices are now 2 percent up on August 2007, the month before the UK economy faced the run on Northern Rock. They have fallen considerably in real terms when compared to retail price inflation over the same period. London is the only inflation-proof hedge seeing average asking prices 3 percent ahead of the retail price index since August 2007. London and South East regions saw new asking price records in June. "In these uncertain economic times, lenders feel safer to lend to those with a cash-cushion, and those sitting on that cash often feel more comfortable with it invested in tangible assets, including bricks and mortar," Shipside said. June saw a weekly run-rate of 29,394 new sellers in the three weeks prior to the disruption of the Diamond Jubilee break. This was the highest new listing run-rate recorded for two years. Rightmove said this suggested that further increases in asking prices are unlikely as fresh supply exceeds summer demand. A report from the Nationwide Building Society showed last month that the U.K. house prices rose 0.3 percent from a month earlier in May, while demand remained subdued. Lloyds Banking Group's Halifax division said prices increased 0.5 percent in May. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 19, 2012 Share Posted June 19, 2012 Europe Must Revive Economic Growth, IMF Says The International Monetary Fund on Monday urged Europe to focus on reviving economic growth to help the recovery of the region's crisis-hit economies. A paper published by IMF staff observed that Europe needs to revive economic growth to help break the vicious cycle of the feedback loop between weak government finances, weak banks, and weak growth that continually undermine each other. IMF also noted that with the recession continuing, and unemployment high and on the rise in many countries, European policymakers needs to do more. The staff said both short-term and long-term solutions are needed to tackle the problem of low growth in the continent. Large-scale reforms could boost GDP by 4.5 percent over five years, according to the report. "Structural reforms should be implemented now to anchor medium-term growth prospects," said Rodrigo Valdes, a deputy director in the IMF's European Department. "But these reforms need to be complemented to sufficiently boost growth in the short term; hence policymakers must supplement them with policies to promote demand, external in some cases, internal in others." Common pools of resources can be strengthened and better targeted, including more forceful interventions to improve labor market conditions, the report said. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 20, 2012 Share Posted June 20, 2012 Moody's Lifts Turkish Credit Ratings Moody's Investors Service on Wednesday raised its ratings on Turkish government bonds by one notch to Ba1 from Ba2 with a 'positive' outlook, citing improvement in public finances. This is the highest non-investment grade rating. According to Moody's, the main drivers of the rating action are the significant improvement in Turkey's public finances and the policy actions that have the potential to address external imbalances. Moody's said the improved public finances have increased shock-absorption capacity of the government's balance sheet. Also, the authorities' recent policy actions are capable of addressing the huge current account deficit, which is the largest credit risk facing the country. The agency said the decision to maintain the 'positive' outlook on Turkey's ratings reflected its expectation that both of the drivers that led to today's rating upgrade will continue to improve the country's fiscal and macroeconomic resilience. An upgrade to an investment-grade rating will depend on Turkey becoming more resilient to balance-of-payment shocks, given the already favorable public-finance metrics, Moody's noted. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 21, 2012 Share Posted June 21, 2012 ECB's Coeure Says EFSF Can Be Used To Ease Tensions On Secondary Markets Eurozone's rescue fund is big enough to ease temporary tensions on the secondary markets, European Central Bank Executive Board Member Benoit Coeure said in an interview to the Financial Times. "It is big enough for the purpose for which it was created, which is to alleviate temporary tensions on secondary markets," he said while responding to a query. The policy maker said the European Financial Stability Facility (EFSF) was allowed to undertake secondary market interventions almost a year ago but the "governments have not yet chosen to use that possibility." Italy and France recently floated the idea of the bailout fund buying Eurozone sovereign bonds, especially debts of countries like Italy and Spain, which are facing very high borrowing costs. However, German Chancellor Angela Merkel denied that she had knowledge of any such discussions. Coeure said euro area bond markets are under very severe strain at the moment, in particular, the market for Italian bonds and for Spanish bonds. " It is entirely an issue for governments to decide on, it's not really something the ECB can fix," he said. "Current circumstances would probably warrant EFSF intervention in the secondary market - provided that this happens against the right background of political decisions and solutions to the underlying issues and strong conditionality," Coeure told FT. "The EFSF is not big enough to finance permanently euro area countries. This is not the purpose it was created for, he told the newspaper. Responding to another question on the possibility of an interest rate reduction, the policy maker said a rate cut was discussed at the previous governing council meeting and the next council may also discuss it. He noted that at present, there is no threat to medium term price stability. Referring to the ECB's Long-Term Refinancing Operations (LTRO), the policymaker said a third LTRO is possible. "But it would probably be warranted only in the face of generalised liquidity challenges and it is probably not the best instrument in the case of localised difficulties for banks." Coeure said fiscal union is a "necessity" and urged countries to take steps for fiscal union if they want to keep the euro and the benefits that the euro has brought to their economies. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 22, 2012 Share Posted June 22, 2012 European Economics Preview: Germany's Ifo Business Confidence Data Due Business confidence from Germany is the only major report due on Friday, headlining a light day for the European economic news. EU Finance Ministers will meet in Luxembourg today at 3.00 am ET to discuss financial transaction tax. A press conference will take place at the end of the meeting. Eurozone ministers meeting held on Thursday decided to release the remaining 1 billion euros of the first installment under the second bailout to Greece by the end of this month. Switzerland's KOF institute is slated to release economic forecast at 3.00 am ET. Half an hour later, Statistics Netherlands is scheduled to release consumer spending figures for April. It had declined 2.1 percent in March. The Ifo business confidence is due at 4.00 am ET. The German business confidence index is seen easing to 105.6 in June from 106.9 in May. At the same time, the current conditions index is forecast to drop to 112 from 113.3 in the previous month. In the meantime, Italy's consumer confidence survey results are due. Economists expect the consumer sentiment index to fall to 86 in June from 86.5 in May. The leaders of Germany, France, Spain and Italy are set to hold a meeting in Rome later today. German Chancellor Angela Merkel is likely to resist calls from French President Francois Hollande and Italian Prime Minister Mario Monti for less stringent Eurozone fiscal policies. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 25, 2012 Share Posted June 25, 2012 Eurozone's 'Big Four' Agree On Growth Plan Eurozone's four biggest economies have agreed to boost economic growth up to one percent of the region's national output, in their latest effort to ensure the currency bloc's long-term sustainability. The leaders of Germany, France, Spain and Italy vowed to set aside 130 billion euros for measures to support growth. However, they gave no indication of taking up common liabilities such as eurobonds. Italian Prime Minister Mario Monti, who hosted the mini-summit between him, German Chancellor Angela Merkel, Spanish Prime Minister Mariano Rajoy, French President Francois Hollande in Rome on Friday, suggested that Europe needs a better plan to restore market confidence. The growth package has no new plans but the leaders said they expect more solid measures to be up for discussion at the EU summit next week. The four leaders on Friday agreed to boost the capital of the European Investment Bank by 10 billion euros. Launching "project bonds" to co-finance public investment projects and redirecting unspent cash to European Commission's regional funds were also part of the package. Meanwhile, on Sunday the German government won the approval of the Bundesrat, the upper house of parliament, for Germany's ratification of the EU fiscal compact and the European Stability Mechanism, Europe's permanent bailout fund. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 26, 2012 Share Posted June 26, 2012 European Economics Preview: German GfK Consumer Confidence Data Due Consumer sentiment from Germany and public sector finance from the U.K. are the major reports due on Tuesday. At 2.00 am ET, Germany's GfK consumer confidence survey results are due. The forward-looking index is seen falling to 5.6 in July from 5.7 points in June. In the meantime, Finland's unemployment and Swiss UBS consumption indicator reports are due. The French statistical office Insee is scheduled to release consumer confidence survey results at 2.45 am ET. The confidence index is forecast to drop slightly to 89 in June from 90 in May. Sweden's producer prices and Dutch final GDP reports are due at 3.30 am ET. Swedish producer price inflation is seen at 0.6 percent, compared to a flat rate in April. Italy's statistical office Istat is set to publish retail sales for April. Retail sales are expected to fall 0.6 percent month-on-month, following a 0.2 percent drop in March. The Office for National Statistics is slated to issue U.K. public finance figures at 4.30 am ET. Public sector net borrowing for May is seen at GBP 14 billion. In the meantime, Spain's short-term debt auction results are due. The government plans to issue 3-month and 6-month T-bills to raise between EUR 2 billion and EUR 3 billion. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 27, 2012 Share Posted June 27, 2012 New Zealand Trade Deficit NZ$301 Million In May New Zealand posted a seasonally adjusted merchandise trade surplus of NZ$301 million in May, Statistics New Zealand said on Thursday, representing 6.8 percent of exports. The headline figure topped forecasts for a surplus of NZ$300 million following the downwardly revised NZ$335 million surplus in March (originally called NZ$355 million). It also follows surpluses of $906 million in May 2009, $770 million in May 2010 and $550 million in May 2011. Exports were down 4.4 percent on year to NZ$4.42 billion, beating expectations for NZ$4.06 billion after coming in at a downwardly revised NZ$3.87 billion in the previous month. By category, exports of meat and edible offal, logs, wood, and wood articles, and dairy products all declined in May 2012, as they did in April 2012. The trends for those commodities, which reflect how values change over time, have been falling for at least six months. "New Zealand's top three export commodity groups were all down in May 2012, which is consistent with their recent trends," industry and labor statistics manager Neil Kelly said in a release accompanying the data. "Those falls in commodity values meant the trade surplus was lower than in the previous three May months." Imports added an annual 1.1 percent to NZ$4.11 billion versus forecasts for NZ$3.80 billion after showing NZ$3.53 billion a month earlier. Imports of capital and consumption goods increased, while imports of intermediate goods were down. Year to date, the trade deficit is NZ$805 million (1.7 percent of exports), shy of forecasts for a shortfall of NZ$790 million after coming in at a downwardly revised NZ$557 million in April. Upon the release of the data, the New Zealand dollar edged down against major rivals, trading near 0.7903 against the U.S. dollar, 62.84 versus the yen, 1.2738 against the Australian dollar and 1.5820 versus the euro. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted June 29, 2012 Share Posted June 29, 2012 EU Leaders Agree To Recapitalize Banks Directly Through Rescue Fund The European leaders meeting in Brussels for a two-day summit have agreed to make use of Eurozone's bailout funds to recapitalize the region's banks directly once an effective single supervisory mechanism is established, relieving the governments of the burden of bailing out troubled lenders. The European Commission will present proposals for a single supervisory mechanism soon. "We ask the Council to consider these Proposals as a matter of urgency by the end of 2012," the leaders said in a statement on Friday. "We affirm that it is imperative to break the vicious circle between banks and sovereigns," the statement read. The leaders also discussed ways to reduce the high borrowing costs faced by Spain and Italy. European Council President Herman Van Rompuy said the permanent bailout fund, the European Stability Mechanism, or ESM, will not gain a senior creditor status when it takes over the loans granted to Spain for its ailing banks from the European Financial Stability Facility, or EFSF. The summit urged rapid conclusion of the Memorandum of Understanding attached to the financial support to Spain for the recapitalisation of its banking sector. The financial assistance will be provided by the EFSF and once the ESM becomes available, it will then be transferred to the permanent fund. The decision to recapitalize banks directly through rescue funds emerged after strong words from leaders, particularly Italian Prime Minister Mario Monti along with Spanish PM Mariano Rajoy, who advocated more steps to reduce their countries' borrowing costs. French President Francois Hollande threw his weight behind Spain and Italy, while German Chancellor Angela Merkel finally gave in to the pressure after her fierce resistance to direct bank aid at the start of the summit. The leaders vowed to use the rescue funds "in a flexible and efficient manner" to ensure the financial stability of the euro area. They welcomed the European Central Bank's decision to serve as an agent to the European Financial Stability Facility and later to the European Stability Mechanism, when it comes into force, in conducting market operations. The EU vested on the Eurogroup the responsibility of implementing the decisions made at the summit by July 9, 2012. Earlier during the summit, the leaders approved a 120 billion-euro package to promote growth in the debt-stricken Eurozone as well as across the broader 27-nation European Union. The growth package includes a 10 billion euro capital boost for the European Investment Bank. It also redirects 60 billion euros of unused structural funds to help small enterprises and create youth employment in most needy countries. The package also calls for launching EU project bonds worth 4.5 billion euros for infrastructure improvements focusing on energy, transport and broadband. The growth plan approved also includes tax-policy pledges and more focused use of EU funding. Earlier this week, the EU unveiled a report containing proposals for securing the stability of the Union, which recommends enforcing tighter fiscal integration with budget controls across the Eurozone and establishing a European banking union. The proposed measures enhance the existing power the European Union has over the fiscal policies of the member-states. Critics, however, have raised concerns the report does not contain any suggestion to address the current debt problems faced by eurozone members. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted July 5, 2012 Share Posted July 5, 2012 European Economics Preview: ECB, BoE Decisions In Focus The European Central Bank and the Bank of England are widely expected to announce monetary stimulus later today. While the ECB is seen resorting to interest rate cuts, the BoE is widely expected to sanction another GBP 50 billion asset purchases. At 3.30 am ET, Statistics Netherlands is slated to release consumer prices for June. Annual inflation was 2.5 percent in May. The Spanish government plans to raise between EUR 2 billion and EUR 3 billion from the auction of 3-year, 4-year and 10-year bond auction. The results are due at 4.30 am ET. In the meantime, French long-term debt auction results are due. The maximum target for the issue is EUR 8 billion. The Federal Ministry of Economy and Technology is scheduled to release Germany's factory orders at 6.00 am ET. Economists forecast orders to remain flat in May after falling 1.9 percent in April. The Bank of England is likely to come up with an additional stimulus of GBP 50 billion. At the end of two-day rate setting meeting, the Monetary Policy Committee is expected to lift the size of asset purchase programme to GBP 375 billion. Also, the nine-member MPC is seen leaving the key interest rate unchanged at a historic 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. ECB President Mario Draghi is likely to reduce the main refinancing rate by 25 basis points to 0.75 percent. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted July 6, 2012 Share Posted July 6, 2012 European Economics Preview: German Industrial Production Due Industrial production data from Germany and producer price figures from the U.K. are the major reports slated for release on Friday, an otherwise light day for the European economic news after a hectic day of stimulus announcements from three major central banks on Thursday. Swedish unemployment data for June is expected at 2 am ET. At 2.45 am ET, French foreign trade data is due. Economists expect the trade balance to post a deficit of EUR 5.5 billion in May. Industrial production figures from Spain, Hungary and Romania are scheduled for release at 3 am ET. At 3.15 am ET, Swiss consumer price data is due. Swedish budget figures are expected at 3.30 am ET. Norwegian statistical office is expected to publish industrial production data for the month of May at 4 am ET. At 4.30 am ET, the Office for National Statistics is scheduled to release the British producer price data for the month of June. Output price inflation is expected to ease to 2.4 percent in June from 2.8 percent in May. German industrial production is due at 6 am ET. Output is forecast to grow 0.2 percent month-on-month in May. However, production on a yearly basis is expected to continue the downward trend, falling 1.2 percent. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted July 11, 2012 Share Posted July 11, 2012 European Economics Preview: Germany's Final Inflation Data Due Final consumer price inflation from Germany is the only major statistical report due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, Germany's Destatis is set to release final consumer price figures for June. According to flash estimate, EU harmonized inflation in Germany slowed to 2 percent from 2.2 percent in May. At 2.45 am ET, the French current account figures are due. The current account deficit is seen narrowing to EUR 3.5 billion in May from EUR 4.2 billion in April. The Czech statistical office is slated to release consumer prices for June at 3.00 am ET. Annual inflation is forecast to rise slightly to 3.3 percent from 3.2 percent in May. On a monthly basis, consumer prices are expected to remain flat. In the meantime, Czech unemployment data is due. The rate is seen falling to 8.1 percent in June from 8.2 percent in May. Also, Hungary's consumer price figures are due at 3.00 am ET. Annual inflation is forecast to increase to 5.4 percent in June from 5.3 percent in May. Germany plans to raise as much as EUR 5 billion from 10-year Federal bond auction. The result of the issue is due 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 July 12, 2012 Share Posted July 12, 2012 European Economics Preview: Eurozone Industrial Output Data Due Industrial production from Eurozone and monthly bulletin from the European Central Bank are the major reports due on Thursday. At 1.30 am ET, the French statistical office Insee is slated to release annual inflation data for June. Annual inflation is seen falling to 1.9 percent in June from 2 percent in May. EU harmonized inflation is forecast to fall to 2.2 percent from 2.3 percent. At 2.00 am ET, Destatis is scheduled to publish German wholesale price data for June. Wholesale prices were down 1.7 percent year-on-year in May. Dutch retail trade and trade balance figures are due at 3.30 am ET. In the meantime, Sweden's average consumer price data is also due. Half an hour later, the European Central Bank is set to issue monthly bulletin. The bank last week lowered its main refi rate by 25 basis points to 0.75 percent. At 5.00 am ET, Eurostat is scheduled to release industrial output for May. On a monthly basis, Eurozone output is expected to remain flat after falling 1.1 percent in April. Annually, production is forecast to fall 3.2 percent. In the meantime, results of Italy's debt auction are due. The government aims to raise about EUR 7.5 billion from 12-month BOT auction. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted July 13, 2012 Share Posted July 13, 2012 BoJ: Economic Activity Picking Up Moderately The Bank of Japan on Friday said that the economic activity has started to pick up moderately amid firm domestic demand. The central bank, in its monthly report, noted that public investment as well as business fixed investment continued to increase. Private consumption also continued to increase moderately due to the effects of measures to stimulate demand for automobiles. According to BoJ, housing investment has generally been rising. Exports have shown signs of a pick-up. Production also started to increase moderately albeit with some fluctuations. "Under these circumstances, business sentiment has been improving moderately particularly in domestic demand-oriented sectors," the central bank said. As for the outlook, Japan's economy is expected to return to a moderate recovery path as domestic demand remains firm and overseas economies emerge from the deceleration phase. "Overseas economies have shown some, albeit moderate, improvement, but on the whole still have not emerged from a deceleration phase," the bank noted. At the same time, there remains a high degree of uncertainty about the global economy. Particular attention should be given to developments in global financial markets associated with the European debt problem, BoJ said. The year-on-year rate of change in the CPI is expected to remain at around zero for the time being. The BoJ has set a 1 percent target for inflation this year. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted July 16, 2012 Share Posted July 16, 2012 Wen Warns China's Economic Woes May Continue For Some Time China's economic recovery is yet to gain momentum and the economic strains may continue for some more time, Premier Wen Jiabao has warned, the official Xinhua news agency reported on Sunday. The country's economic recovery is not yet stable and economic hardships may continue for a period of time, he said during an inspection tour in southwest Sichuan province over the weekend. The Chinese economy expanded 7.6 percent in the second quarter, marking the weakest growth rate since the first quarter of 2009. In the second half of the year, the government will increase efforts to fine-tune its policies and make policies more targeted and effective, Wen said. A meeting of the State Council this week is widely expected to churn out policies for the second half. Wen have been calling for further fine-tuning of the country's policies to stabilize growth after indicators continued to point to weaker economic performance ahead. The State Council had earlier warned the economy is currently facing "increasing downward pressure." The Premier noted that the economy is running at a slower, but more stable pace. The economic growth rate is still within the government target range set early this year and the stabilization policies taken by the government are working, he added. China's economic fundamentals remain sound and the country still enjoys huge growth potential, Wen said. However, concerns remain over the economy's ability to sustain its growth momentum. On July 5, the People's Bank of China unexpectedly reduced the interest rate for a second time in less than a month. The bank has cut the reserve requirement rate three times since November last year. The Asian Development Bank last week cut China's growth forecast for 2012 to 8.2 percent from 8.5 percent citing a fall in exports, industrial output and investment. The lender also lowered the 2013 growth projection to 8.5 percent from 8.7 percent. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
IFX Yana Posted July 17, 2012 Share Posted July 17, 2012 Japan's Azumi: Speculation Driving Yen Gains Japan's Finance Minister Jun Azumi said Tuesday that speculative moves are pushing up yen and the currency gains do not reflect the country's economic fundamentals. Speculative moves mainly influenced by weak outlook for the U.S. economy is driving the currency higher, Azumi was quoted as saying. He said the government is closely watching the developments. Rapid appreciation of yen could hurt the economy and therefore, the Ministry will take decisive measures, if needed, he added. More FOREX-news on pages InstaForex.Com Quote Link to comment Share on other sites More sharing options...
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