Australia December retail sales -3.9% m/m (expected -0.3%)
Australia December retail sales -3.9% m/m – a huge miss but there were warnings expected -0.3%, prior +1.4% (November benefitted from Black Friday sales) the -3.9% m/m is the first fall after 11 consecutive months of rises apart from the pandemic and the introduction of sales tax (GST) this is the worst month ever The […]
BOE Expected to Hike Again This Week
The BOE will be meeting on Thursday in a fraught environment that could lead to some shake ups in the market. The UK economy is teetering on recession, which makes it difficult for the central bank to fight inflation. Consumer prices have been rising at over five times the target rate. The extraordinary circumstances have […]
PBOC is expected to set the USD/CNY reference rate at 6.7660 – Reuters estimate
<p>PBOC CNY reference rate is due around 0115 GMT.</p><p>Earlier:</p><p class="article-slot__title title top"><a href="https://www.forexlive.com/news/chinas-cabinet-said-it-will-promote-consumption-recovery-boost-imports-to-drive-economy-20230129/" rel="follow" target="_self" class="article-link">China's cabinet said it will promote consumption recovery, boost imports to drive economy</a></p><p class="article-slot__title title top"><a href="https://www.forexlive.com/centralbank/weekend-china-to-extend-3-lending-tools-for-further-targeted-economic-support-20230129/" rel="follow" target="_self" class="article-link">China to extend 3 lending tools for further targeted economic support</a></p> This article was written by Eamonn Sheridan at www.forexlive.com. Source […]
US December PCE core inflation +4.4% vs +4.4% expected
Core PCE data y/y Consumer spending and income for November: Personal income +0.2% vs +0.2% expected. Prior month +0.4% Personal spending -0.2% vs -0.1% expected. Prior month +0.1% Real personal spending -0.3% vs +0.0% prior Under the covers of this report, the Fed might not like seeing services inflation up 0.7% m/m. That’s counteracted by […]
UMich final January consumer sentiment 64.9 vs 64.6 expected
Prelim was 64.6 Prior was 59.7 Current conditions 68.4 vs 68.6 prelim Expectations 62.7 vs 62.0 prelim 1-year inflation 3.9% vs 4.0% prelim (4.4% prior) 5-10 year inflation 2.9 % vs 3.0% prelim (2.9% prior) These inflation numbers will be welcomed by the Fed and the market. We’ve seen a few times where the final […]
US December pending home sales +2.5% vs -0.9% expected
Prior was -4.0% (revised to -2.6%) Index 76.9 vs 73.9 prior This is the first improvement since May Full report This is December data but there’s increasing talk of better home-buying traffic in January as consumers see rates in the low 6s. “This recent low point in home sales activity is likely over,” said NAR […]
UK January flash services PMI 48.0 vs 49.7 expected
Prior 49.9 Manufacturing PMI 46.7 vs 45.5 expected Prior 45.3 Composite PMI 47.8 vs 49.1 expected Prior 49.0 That’s a steep drop in UK services activity, with the headline reading slumping to a two-year low. There is a bit of reprieve in that manufacturing activity nudged higher but overall, the data highlights a further sustained […]
German Preliminary Manufacturing PMI drops to 47.0 in January vs. 47.9 expected
German Manufacturing PMI arrives at 47.0 in January vs. 47.9 expected. Services PMI in Germany jumps to 50.4 in January vs. 49.7 expected. EUR/USD erases gains near 1.0870 on mixed German PMIs. The German manufacturing sector contraction moderated in January even as inflation continues to slow, the preliminary manufacturing activity report from S&P Global/BME research […]
Germany February GfK consumer sentiment -33.9 vs -33.0 expected
Prior -37.8; revised to -37.6 This marks another improvement (four straight months now) in German consumer morale for the month ahead but the reading remains deeply in negative territory, so that’s still something worth noting. GfK notes that “falling energy prices have ensured that consumer sentiment is less gloomy” but warns that private consumption will […]
PBOC is expected to set the USD/CNY reference rate at 6.7708 – Reuters estimate
<p>PBOC CNY reference rate is due around 0115 GMT.</p> This article was written by Eamonn Sheridan at www.forexlive.com. Source link