מאַרק איבערבליק 26 יוני 2012
A pair of manufacturing surveys were released today in the US. The Chicago National Activity Index for May showed that conditions had deteriorated somewhat, while the Dallas Fed’s manufacturing survey for June showed an improvement in conditions. After the Philly Fed’s surprising collapse in June, we’ll be watching the other regional Fed surveys especially closely. The Richmond Fed survey for June will be released tomorrow.
US new home sales advanced fairly strongly in May, with the annual rate of sales increasing to 369k from 343k in April, significantly higher than anticipated (the consensus among economists polled by Bloomberg was for an outcome of 346k) . The gains were driven by sales in the Sun Belt. Both median and mean new home prices fell (-0.6% m/m and -3.5% m/m respectively) although both are trending positively in the more medium term at -5% y/y.
Germany will release consumer confidence data tomorrow along with France. Manufacturing sector surveys from both countries have trended fairly weak for the past two months, so it will be interesting to see how forward looking indicators of consumption are faring. Both surveys will be up to the minute, with the French survey covering the June period while the German survey focuses on expectations for July. Italy will release retail sales data for April as well.
The UK’s budget balance for May will be released, and forecasters polled by Bloomberg are expecting net public sector borrowing of GBP14bn during May. That would put net borrowing at GBP10.7bn for the year.
News flow is expected to pick up as the EU Summit draws near and the Finance Ministers all like getting their own view points out. In a surprise, the newly appointed Greek Finance Minister has resigned after 1 week in office.
ייראָ דאָללאַר:
עורוסד (1.2507) the pair is bouncing between small gains and losses ahead of the EU Summit, the outlook for the euro is negative. With Spain and Cyprus both summiting official requests for financial assistance. The euro is expected to trade below the 1.24 level. Although no actual results are expected from the EU Summit with investors writing off the outcome, there should be a lot of news.
די גרויס בריטיש פונט
גבפּוסד (1.5580) Sterling added a few pips to recover its small losses yesterday on the DX increase of the USD. There was little in the way of eco data on either side of the Atlantic. Today’s give us the UK budget reports.
אַסיאַן –פּאַסיפיק קראַנטקייַט
וסדדזשפּי (79.62) In a surprise move, the USD lost some of its momentum against the yen, falling from 80.33, with Japan, dealing with their new tax issues as the government votes today on what is critical for the economy and the yen. The BoJ will respond to the governments outcome.
גאָלד
גאָלד (1584.75) זי זוכט פֿאַר ריכטונג אַמאָל ווידער, איידער די אי.יו. סאַמיט און די סוף פון די חודש דאַטן ריליסיז גאָלד האלט צו אָפּשפּרונג צווישן קליין גיינז און לאָססעס, כאָטש עס איז געריכט צו צוריקקומען צו די פריערדיקער דאַונווערד גאַנג צו 1520 אַמאָל די אי.יו.
גראָב אָיל
גראָב אָיל (79.77) פאָרזעצן צו האַנדלען אויף די נעגאַטיוו זייַט, ווייַל פּראָדוקציע עסטאַמאַץ שוועבן און פאָדערונג פאלן, עס איז איצט אַ ווערלדווייד אָוווערסאַפּליי פון גראָב. די שוואַרץ גאָלד איז געריכט צו בלייבן אין די טעריטאָריע אין די קומענדיק 30-60 טעג און ויסשליסן קיין פּאָליטיש בעהאָלע.
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