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Trade the News - European Market Update: Markets Quiet Ahead of US Holiday European Market
Update: Markets Quiet Ahead of US Holiday
Â· *** ECONOMIC DATA ***
Â· GE Q3
Final GDP: Q/Q 0.7% v 0.7%e || Y/Y 2.5% v 2.5%e || Y/Y nsa 2.4% v 2.
Â· GE Q3 Final Private Consumption: 0.5% v 0.3%e || Prior revised
from 0.6% to 0.8%
Â· GE Q3 Final Government Spending: -0.1% v 0.3%e
|| Prior revised from -0.2% to 0.0%
Â· GE Q3 Final Equipment
Investment: 0.4% v 2.0%e || Prior revised from 2.5% to 0.9%
Â· GE Q3
Final Construction Investment: 0.6% v 0.8%e || Prior revised from -4.8% to -
Â· GE Q3 Final Domestic Demand: 0.9% v 0.7%e || Prior revised
from -0.6% to -0.9%
Â· GE Q3 Final Imports: 3.9% v 2.2%e || Prior
revised from 0.9% to -1.8%
Â· GE Q3 Final Exports: 3.1% v 2.1%e ||
Prior revised from -0.9% to 0.8%
Â· SP Sep Services Sector Turnover:
3.2% v 6.1% prior
Â· SZ Q3 Employment Level Y/Y: 2.7% v 2.3%e
[highest since Q1 2000]; Employment Level 3.871M v 3.373M prior
Â· IT Oct Trade Balance: -â‚¬313M v -â‚¬2.11B prior || Prior revised
from -â‚¬2.11B to -â‚¬2.10B
Â· EU Sep Current Account: â‚¬600M v â‚¬4.0Be ||
Prior revised from â‚¬3.8B to â‚¬4.5B |||| Current Account nsa: â‚¬4.4B v â‚¬0.0Be
|| Prior revised from â‚¬700M to â‚¬1.5B
Â· UK Q3 Preliminary Total
Business Investment: 0.0% v 1.1%e || Y/Y 4.6% v 6.1%e
Â· EU Sep
Industrial New Orders: M/M -1.6% v -0.7%e || Prior revised from 0.3% to 0.
8% |||| Y/Y 2.0% v 6.5%e || Prior revised from 5.1% to 5.3%
Â· CH Statistics Head: Reiterates 2007 GDP
growth forecast of 11.5%
Â· CH Statistics Head: China faces monetary
and currency policy dilemmas
Â· CH Statistics Head: Undervalued Yuan
adds to economic problems
Â· JP Economic Minister Ota: Stronger Yen
is a negative on economy from current levels
Â· EU Barroso: The
strong Euro is becoming a concern
Â· GE Finance Minister: Economy
Â· GE Finance Minister: Export growth likely to slow
due to Euro strength
Â· GE Finance Minister: Industrial production
growth seen losing momentum
Â· GE Finance Minister: Rise in inflation
is burdening private consumption
Â· GE Finance Minister: European
Macro News/Economic Numbers
Â· GE Economic Minister: Private
consumption may stabilize further in the coming months
Â· GE Economic
Minister: Third-quarter growth confirms Germany's solid economic
Â· SW Riksbank's Nyberg: There is reason to believe that the
credit market unrest will continue
Â· SW Riksbank's Nyberg: Will be
a long time before all bank losses are known
Â· SW Riksbank's Nyberg:
Too early for clear conclusions on market turmoil
Â· *** FIXED
Â· FR AFT sold â‚¬1.083B in 4.00%
September 2009 BTAN with an average yield of 3.77% and a bid-to-cover of 4.
73x. The auction brings the amount outstanding for the issue up to â‚¬11.67B.
The bid-to-cover compares to 5.51x at the previous auction.
Â· FR AFT
sold â‚¬1.97B in 4.50% July 2012 BTAN with an average yield of 3.85% and a
bid-to-cover of 2.88x. The bid-to-cover compares to 4.03x at the previous
Â· Overall, today has been relatively quiet as the US is on
holiday. Economic data was steady, however nothing market moving was
released. Most notably on the data front was the weaker than expected
industrial new orders data in the Euro-Zone. Similarly, on the speaker
front, most comments were in line with past comments, and, again, there was
nothing market moving to report. Equity markets quickly dropped off into
negative territory following the open, but staged a slow but steady rebound
into the green after bottoming out.
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Amazing Trader EVENT RISK Calendar:
Wed 18 Oct /ul>
12:30 US- Housing Starts & Permits
14:30 US- EIA Crude
Thu 19 Oct
01:30 AU- Employment
08:30 GB- Retail Sales
12:30 US- Weekly Jobless
Fri 20 Oct
12:30 CA- Retail Sales & CPI
14:00 US- Existing Homes Sales
John M. Bland, MBA
- POTENTIAL PRICE RISK: HIGH Tue-- 08:30 GMT GB- CPI top tier confirmation of Inflation.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT DE- ZEW Survey second most important German monthly Survey.
- POTENTIAL PRICE RISK: Medium Tue-- 09:00 GMT EZ- final HICP revision to flash report. Revisions are usually minor.
- POTENTIAL PRICE RISK: Medium Tue-- 13:15 GMT US- Industrial Production. Top output indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 12:30 GMT US- Housing Starts and Permits revision to flash report. Useful housing leading indicator.
- POTENTIAL PRICE RISK: Medium Wed-- 14:30 GMT US- EIA Crude. Top WTI inventory measure.
- POTENTIAL PRICE RISK: Medium Thu-- 01:30 GMT AU- Employment. Top economic indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 02:00 GMT CN- GDP. Top economic indicator.
- POTENTIAL PRICE RISK: HIGH Thu-- 08:30 GMT GB- Retail Sales. Top consumption indicator.
- POTENTIAL PRICE RISK: Medium Thu-- 12:30 GMT US- Weekly Jobless. Employment Indicator.
co-founding Partner, Global-View.com
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