USA
| Fed Chairman Bernanke Speaks | |||
| NFIB Small Business Index |
89.5 |
92.3 |
90.8 |
| Wholesale Inventories m/m |
-0.3% |
0.5% |
0.8% |
| Crude Oil Inventories |
0.3M |
1.6M |
2.7M |
| 10-y Bond Auction |
1.80|2.8 |
2.03|3.2 |
|
| Federal Budget Balance |
-106.5B |
-110.3B |
-203.5B |
| Unemployment Claims |
346K |
362K |
388K |
| Import Prices m/m |
-0.5% |
-0.4% |
0.6% |
| Natural Gas Storage |
-14B |
-12B |
-94B |
| 30-y Bond Auction |
3.00|2.5 |
3.25|2.4 |
|
| Core Retail Sales m/m |
-0.4% |
-0.1% |
1.0% |
| PPI m/m |
-0.6% |
-0.2% |
0.7% |
| Retail Sales m/m |
-0.4% |
0.0% |
1.0% |
| Core PPI m/m |
0.2% |
0.2% |
0.2% |
| Prelim UoM Consumer Sentiment |
72.3 |
79.1 |
78.6 |
| Prelim UoM Inflation Expectations |
3.0% |
3.2% |
|
| Business Inventories m/m |
0.1% |
0.4% |
0.9% |
Mixed data came from the US economy. Unemployment Claims continues to fall, Retail sales disappointed with a -0.4% publication and the UoM Consumer Sentiment dropped to 72.3. The most important news came, though, from the FED. They announced that QE program might suffer changes before the ending of this year. With all this good news from USA, the risk appetite rose.
Next week the Core CPI will be published on Tuesday, along with the Industrial Production and Housing Starts. On Wednesday the Beige Book and on Thursday Philly Fed Manufacturing Index.
Europe
| Sentix Investor Confidence |
-17.3 |
-12.6 |
-10.6 |
||||
| German Industrial Production m/m |
0.5% |
0.4% |
-0.6% |
||||
| German Trade Balance |
17.1B |
16.2B |
15.6B |
||||
| French Gov Budget Balance |
-27.1B |
-12.8B |
|||||
| French Trade Balance |
-6.0B |
-5.3B |
-5.7B |
||||
| French Industrial Production m/m |
0.7% |
0.6% |
-0.8% |
||||
| Italian Industrial Production m/m |
-0.8% |
-0.4% |
1.0% |
||||
| German Final CPI m/m |
0.5% |
0.5% |
0.5% |
||||
| French CPI m/m |
0.8% |
0.7% |
0.3% |
||||
| German WPI m/m |
-0.2% |
0.3% |
0.1% |
||||
| Industrial Production m/m |
0.4% |
0.3% |
-0.6% |
||||
Last week was one with some medium impact indicators. The data came mixed, but Euro was bought mainly because of a rise in the risk appetite.
This Monday the Trade Balance will be published for the Euro Area, Tuesday German ZEW and Core CPI and on Thursday Spanish 10-y Bond Auction.
From the technical perspective, the signals are still bullish. The 1.3050 resistance was broken and a consolidation was formed right under 1.3137. If the price will break the resistance, than we might expect a rally to 1.3260. On the other hand if the price will drop under 1.3050 we might see a retest of 1.2900.
Wrap Up 8-12 April EURUSD Up 1.07% by Razvan Mihai
