Dec 15, 2011

Your forexlive.com ENewsletter

Your forexlive.com ENewsletter

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Analysis: Eurozone HICP Stable At +3.0% Y/Y In November

Posted:

November: +0.1% m/m, +3.0% y/y October: +0.3% m/m, +3.0% y/y September: +0.8% m/m, +3.0% y/y August: +0.2% m/m, +2.5% y/y July: -0.6% m/m, +2.5% y/y – FRANKFURT (MNI) – Eurozone annual consumer price inflation remained at a 35-month high of +3.0% for the third consecutive month in November, as prices slowed to an expected 0.1% [...]

EMU DATA: 3q sa employment -0.1% q/q, unadjusted y/y.

Posted:

EMU DATA: 3q sa employment -0.1% q/q, unadjusted +0.2% y/y – EMU 2q sa employment rev to +0.2% (+0.3%) q/q, unadjusted +0.5%(+0.4%) y/y – For details see MNI MainWire

EMU DATA: November HICP unrev +3.0% y/y, October…..

Posted:

EMU DATA: November HICP unrev +3.0% y/y, October +3.0%, September +3.0%, August +2.5% – EMU November HICP y/y matches all MNI median fcast – EMU November ex-energy/food/alc/tobacco HICP +1.6% y/y, October +1.6% – EMU November ex-energy/unprocessed food HICP +2.0% y/y, October +2.0% – EMU November ex-energy/seasonal foods HICP +2.0% y/y, October +2.0% – EMU November [...]

SNB may still lift EUR/CHF floor – Wellershoff

Posted:

Dow Jones quoting the economist Felix Brill at Wellershoff & Partners (Wellershoff ex-chief economist at UBS) Brill says “There is still a considerable chance that it could come to this point”.  He thinks Swiss economy could face higher deflation risks if the euro-zone crisis worsens, oil prices fall and Swiss companies freeze investments.  This backdrop he [...]

Eurozone Q3 employment falls -0.1% q/q , + 0.25 y/y

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Q2 sa employment revised +0.2% q/q from (+0.3%), unadjusted  +0.5% y/y (from +0.4%)

Spanish auction results…

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Spain sold a total of  Euro’s  6.03 bln  in today’s Tesoro auctions Sold Euro 2.451 bln 3.15% Jan 2016 cover 1.99 agst prev 2.83, yield 4.023% vs  5.276% Sold 2.177 bln 4.00% Mar 2020, cover 1.52  agst prev 2.0, yield  5.239% vs 5.006% Sold 1.04bln 5.5% Apr 2021, cover 2,16 agst prev 1.76, yield 5.545% vs [...]

Real money whacks EUR/USD

Posted:

Getting reports that real money names have come in and whacked EUR/USD from around the 1.2990 level.  We’re down at 1.2970 at writing. Earlier the sell-off in EUR/CHF, after SNB left the peg at 1.2000, helped put early EUR/USD rally into reverse gear.

SMMT – UK Nov Car Production Rises 8.5%; +6.1% Year To Date

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LONDON (MNI) – UK car production registered an 8.5% rise in November from the same month of 2010 and was 6.1% up in the first 11 months of this year. “UK vehicle and engine production continues to lead a manufacturing recovery,” said Paul Everitt, SMMT Chief Executive. “Despite the challenges in the Euro-zone, the UK [...]

Corrects: Inf. Expectations Dip; Dissatisfaction Grows – BOE

Posted:

–Replaces Item Transmitted in Error At 0930 GMT LONDON (MNI) – Inflation expectations eased a little in November, as headline inflation dipped and the economic outlook deteriorated, but they were still more than two percentage points above target and public dissatisfaction with the Bank of England is growing. The November Bank of England/GfK NOP survey [...]

UK Analysis: Nov Retail Sales Down But Q4 Looks Healthy

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–Nov Retail Sales -0.4% m/m; +0.7% y/y; median -0.2% m/m; +0.4% y/y LONDON (MNI) – Retail sales fell sharply in November following a strong rise in the previous month, although barring a large fall in December, figures for the final quarter of the year are likely to show reasonably healthy growth. Retail sales including auto [...]

UK DATA: BOE: Year-Ahead Inflation Expectations Rise To 3.0%

Posted:

–BOE/GfK NOP Nov Survey Shows Yr Ahead Inflation Expectations At 3.0% –Public Estimates Of Current Inflation 3.2% Vs 2.8% In Aug –BOE: MPC Saw Inflation Attitudes Data At Dec Policy Meeting LONDON (MNI) – A Bank of England survey published Thursday found the public believed inflation was running at record high levels, and was set [...]

UK DATA: BOE: Nov Median Year Ahead Inf. 4.1% Vs Aug.

Posted:

UK DATA: BOE: Nov Median Year Ahead Inf. Expectations 4.1% Vs 4.2% Aug BOE: Nov 2yr Ahead Inflation Expectations 3.4% vs 3.5% in Aug BOE: Nov Longer Term Inflation Expectations 3.5%; Unchanged vs Aug ———————————————————————— Inflation expectations eased a little in Nov, as headline inflation dipped and the economic outlook deteriorated, but they were still [...]

UK DATA: Nov Retail Sales -0.4% m/m; +0.7% y/y; y/y..

Posted:

UK DATA: Nov Retail Sales -0.4% m/m; +0.7% y/y; median-0.2% mm;0.4% y/y –Nov Retail Sales ex fuel -0.7% m/m; +0.5% y/y; median-0.3% m/m;0.4%yy ———————————————————————— Retail sales fell sharply in Nov although barring a large fall in Dec, figures for the final quarter of the year are likely to show reasonably healthy growth. Retail sales including [...]

UK November retail sales -0.4% m/m, +0.7% y/y

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Compared to Reuters’ median forecasts -0.3%, +0.3% respectively.

EUR/JPY heading down towards a reported barrier

Posted:

Talk in Asia of a barrier at 101.00  with large stops seen on a break of the level and more through 100.75 just under the 2011 low of 100.77 We’ve been down to 101.26 just now and there are bids sitting in front of the barrier at 101.10/15

ITALY DATA: Final November HICP WAS CONFIRMED at m/m.

Posted:

ITALY DATA: Final November HICP WAS CONFIRMED at -0.1% m/m and 3.7% y/y, down from +3.8% y/y in October, ISTAT said. –The main domestic index (NIC) slowed -0.1% m/m, +3.3% y/y, down from +3.4% y/y in October. –The data confirms preliminary readings published by ISTAT at the end of November. –Core inflation based on the [...]

Bank of Finland: Debt Crisis Could Hit Economy “Very Hard”

Posted:

PARIS (MNI) – A further escalation of the Eurozone debt crisis would hit Finland’s already slowing economy “very hard indeed,” the Bank of Finland said on Thursday. In its Economic Outlook report, the Finnish central bank said that growth in the country’s economy would slow from 2.8% in 2011 to 0.4% in 2012, before rebounding [...]

SNB’s Hildebrand: Introduction of minimum fx rate has corrected the massive overvaluation of SFR

Posted:

SNB expecting temporarily negative inflation rates, but not a sustained decline SNB to maintain liquidity at exceptionally high levels, no sight deposit target Despite expansionary monetary policy, no signs of inflation risks over forecast horizon Labour market deterioration should constrain consumer spending, investment in residential construction

Eurozone Dec Flash Mfg PMI 46.9, from 46.4 in Oct (exp 46.0)

Posted:

Dec Flash Services PMI 48.3 vs 47.5 in Nov (exp 47.0) Flash Composite  47.9 vs 47 in Nov (exp 46.5)

Spanish auction today

Posted:

Selling bonds January 2016,  previous av yield 5.276%, cover 2.83 times March 2020, previous av yield 5.006%, covered 2.0 times April 2021, previous av yield 5.433%, covered 1.76 times Looking to raise 2.5 to 3.5 billion. Results due around 09:40 GMT.    
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