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FX Blog TTN- European Market Update European Market Update
Â· *** ECONOMIC DATA ***
Â· GE Jan Retail Sales: M/M 1.6% v 1.0%e || Prior revised from -0.1% to -0.2% |||| Y/Y 0.6% v -2.1%e || Prior revised from -6. 9% to -7.0%
Â· GE Jan Final CPI: M/M -0.4% v -0.3% prior || Y/Y 2.8% v 2.7% prior
Â· GE Jan Final CPI Harmonized: M/M -0.4% v -0.3% prior || Y/Y 2.9% v 3.0% prior
Â· UK Feb Nationwide house Prices: M/M -0.5% v 0.0%e || Prior revised from -0.1% to -0.3% |||| Y/Y 2.7% v 3. 6%e
Â· SP Feb Preliminary CPI Harmonized Y/Y: 4.4% v 4. 3%e
Â· SW Q4 GDP: Q/Q 0.8% v 0.6%e || Y/Y 2.8% v 2.5%e
Â· UK Jan Final M4 Money Supply: M/M 1.4% v 1.3% prior || Y/Y 13.1% v 12.9% prior
Â· UK Jan Final M4 Sterling Lending: Â£21.8B v Â£21.6B prior
Â· UK Jan Net Consumer Credit: Â£900M v Â£800Me
Â· UK Jan Net Lending: Â£7.4B v Â£8.2Be || Prior revised from Â£8.6B to Â£7. 9B
Â· UK Jan Mortgage Approvals: 74K v 70Ke || Prior revised from 73K to 72K
Â· EU Jan CPI: M/M -0.4% v -0.4%e || Y/Y 3.2% v 3.2%e || Core Y/Y 1.7% v 2.0%e
Â· EU Jan Unemployment Rate: 7.1% v 7.2%e || Prior revised from 7.2% to 7.1%
Â· EU Feb Business Climate: 0.72 v 0.75e || Prior revised from 0.78 to 0.77
Â· EU Feb Consumer Confidence: -12 v - 12e
Â· EU Feb Economic Confidence: 100.1 v 101.2e
Â· EU Feb Industrial Confidence: 0 v 1e
Â· EU Feb Services Confidence: 10 v 11e || Prior revised from 12 to 13
Â· IT Feb Preliminary CPI: M/M 0.3% v 0.2%e || Y/Y 2.9% v 2.9%e
Â· IT Feb Preliminary Harmonized CPI: M/M 0. 1% v 0.0%e || Prior Y/Y 3.1% v 3.1%e
Â· SZ Feb KOF Leading Indicator: 1.65 v 1.60e || Prior revised from 1.70 to 1.75
Â· GE Feb Preliminary CPI: M/M 0.5% v 0.4%e || Y/Y 2.8% v 2.7%e
Â· GE Feb Preliminary Harmonized CPI: M/M 0.5% v 0.4%e || Y/Y 2.9% v 3.0%e
Â· *** SPEAKERS/COMMENTS ***
Â· No speakers or comments overnight
Â· *** FIXED INCOME/FX/COMMODITIES/ERRATUM ***
Â· While there was a lot of data overnight, none of it seemed to heavily influence fixed income trading. There has been a general flight to fixed income overnight, and a noticeable steepening of yield curves across Europe. The AFT announced overnight that it will sell â‚¬5.0B-â‚¬5.5B in OATs next week.
Â· The European equity indices were lower overnight on increasing concerns about the prospects of an economic recession in the US. The biggest declines overnight were seen in the industrial sector.
Â· On the currency front, the USD remains soft ahead on month end trading as oil and gold maintain an upward bias. Carry-related pairs focused on continued credit market concerns The currency market continues to be defined by the duel theme of higher commodity prices hurting USD sentiment and the risk aversion theme aiding JPY and CHF pairs
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GVI Trading. Potential Price Risk Scale
Tue 19 June 2018
AA: Major, A: High, B: Medium
A 12:30 US- House Permits/Starts
Wed 20 June 2018
A 14:00 US- Existing Homes Sales
A 14:30 US- EIA Crude
Thu 21 June 2018
AA 11:00 GB- Bank of England Decision
A 12:30 US- Weekly Jobless
Fri 22 June 2018
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