IronFX Daily Commentary by Sakis Paraskevov _ 13/10/2015
October 13, 2015 9:17 am
Main points for Today
• China’s trade figures show weak demand all around • Imports were down 20.4% yoy, while exports were down 3.7% yoy. • The figures demonstrate how demand is softening all over the world. • The figures are bad news for Australia and New Zealand, which count China as their major export market. • AUD/USD and NZD/USD gave back some of the last week’s gains and could decline further. • BoJ’s September minutes: Inflation trend continue to improve • Many members shared the view that the underlying trend in inflation continue to improve. • A lot of emphasis was put on the slowdown in EM, which affect Japan’s exports and output. USD/JPY continue to gyrate around 120.00. • Today: • Germany: ZEW survey for October. The expectations and the current situation indices are both forecast to decline a bit, which could prove negative for EUR. The final German CPI data for September is also coming out. • UK: CPI for September. The headline figure is expected to have remained flat, while the core rate is expected to have risen a bit. A positive surprise is needed for the pound to strengthen. On the other hand, a disappointing figure is likely put GBP under renewed selling pressure. • Sweden: CPI and CPIF for September are due to be released. unless we see a huge fall into deflation, SEK could strengthen at this release. • US: NFIB small business optimism index for September. • Speakers: ECB Executive Board member Yves Mersch, St. Louis Fed President James Bullard, BoE official Andrew Haldane and BoE MPC Ian McCafferty speak.
Main points for Today
• China’s trade figures show weak demand all around
• Imports were down 20.4% yoy, while exports were down 3.7% yoy.
• The figures demonstrate how demand is softening all over the world.
• The figures are bad news for Australia and New Zealand, which count China as their major export market.
• AUD/USD and NZD/USD gave back some of the last week’s gains and could decline further.
• BoJ’s September minutes: Inflation trend continue to improve
• Many members shared the view that the underlying trend in inflation continue to improve.
• A lot of emphasis was put on the slowdown in EM, which affect Japan’s exports and output. USD/JPY continue to gyrate around 120.00.
• Today:
• Germany: ZEW survey for October. The expectations and the current situation indices are both forecast to decline a bit, which could prove negative for EUR. The final German CPI data for September is also coming out.
• UK: CPI for September. The headline figure is expected to have remained flat, while the core rate is expected to have risen a bit. A positive surprise is needed for the pound to strengthen. On the other hand, a disappointing figure is likely put GBP under renewed selling pressure.
• Sweden: CPI and CPIF for September are due to be released. unless we see a huge fall into deflation, SEK could strengthen at this release.
• US: NFIB small business optimism index for September.
• Speakers: ECB Executive Board member Yves Mersch, St. Louis Fed President James Bullard, BoE official Andrew Haldane and BoE MPC Ian McCafferty speak.
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