Dismal December Retail Sales Leads Cable Lower
GBP/USD News and Analysis Disappointing retail sales during a strike affected December poses concerns for shoppers GBP/USD eases after the report, heading into the weekend looking for support at 1.2300 Attention turns to next week with the first look at US GDP and PCE inflation data, UK PMIs too The analysis in this article makes […]
Japan December Exports +11.5% y/y (expected +10.1%) Imports +20.6% (expected +22.4%)
Trade data from Japan for December 2022. Trade balance Y -1.44bn expected Y-1.65bn, prior Y-2.03bn for the year as a whole, the trade deficit is the highest ever at 19.97tln yen Exports +11.5% y/y expected +10.1%, prior +20.0% this is the 22nd consecutive monthly gain Imports +20.6% y/y more to come Exports to: the US […]
China Q4 GDP and December industrial output (and more) data due today – preview
Coming up on the calendar today: I posted a preview of this data here: Reuters have a preview posted also if you’d like more. Via JPMorgan: “The Chinese economy appears to have ended the year on a weak tone” “As suggested by the weak December NBS PMI report, domestic activity likely slowed further by year-end […]
Canadian house prices fall 1.6% in December
Prices down 7.5% y/y Volume of sales +1.3% m/m vs -3.3% expected Activity down 39.1% y/y The Canadian housing market is in a tough spot and with the BOC set to hike again this month, it will get worse before it gets better. “In 2022, we saw one of the biggest single-year shifts on record […]
UK Employment and Inflation Data for December: Some Relief for the BOE?
Last Friday, the UK reported a surprise growth in GDP. That was even a surprise for the normally overly optimistic government analysts, who were expecting the UK to remain in recession for the coming quarters. Of course it was just one month of data, and doesn’t necessarily mean a trend is forming. The outsized growth […]
Dollar stabilizes ahead of key December inflation data By Investing.com
© Reuters By Peter Nurse Investing.com – The U.S. dollar stabilized in early European trade Thursday ahead of a widely awaited U.S. consumer inflation release, while the Japanese yen surged ahead of next week’s Bank of Japan meeting. At 03:00 ET (08:00 GMT), the , which tracks the greenback against a basket of six other […]
US December CPI in line with estimates, Fed expected to gear down to 25 bp tightening rate |
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US annual CPI inflation drops to 6.5% % in December as expected
The US Bureau of Labor Statistics reported on Thursday that inflation in the US, as measured by the Consumer Price Index (CPI), declined to 6.5% on a yearly basis in December from 7.1% in November. This reading came in line with the market expectation. On a monthly basis, the CPI declined by 0.1% following November’s […]
New Zealand commodity price index for December -0.1% m/m (prior -3.9%)
ANZ World Commodity Price Index data. Down 0.1% m/m in December vs. down 3.9% in November In NZD terms down 3.8% (NZD rose 2.1% against its Trade Weighted Index) — In y/y terms down 11.4% in December November was down 11.5% y/y — As part of its report ANZ look at global shipping rates, which […]
China December M2 money supply +11.8% vs +12.2% y/y expected
Prior +12.4% New yuan loans ¥1.4 trillion vs ¥1.1 trillion expected Prior ¥1.2 trillion The numbers continue to support the narrative that China is aiding the market recovery at least, particularly so after having been crippled by its previous zero-Covid policy. For some context, the new yuan loans issued throughout 2022 is a record, coming […]