Intraday Market Thoughts

Euro Struggles at 1.37, Awaiting UK Retail Sales

by Kyle Morrison
Oct 20, 2011 7:42

Japans govt confirms a joined BoJ-govt taskforce aimed dealing with the strong yen and expand facility to aid M&As to Y10 trln. German Sep PPI rose 0.3% m/m from -0.3% (exp 0.2%), +5.5% y/y, matching the previous and expectations. FT story says EU bank recapitalization could be could be under E100 bln, which is a disappointingly low figure from the reported EUR 200 bln. The days key events in Europe start at 8:30 GMT with UK Sep retail sales expected unchanged m/m, +0.7% y/y, from previous prev -0.2% m/m, unchanged y/y. Retail sales ex-fuel expected +0.2% m/m, +0.6% y/y from previous last -0.1% m/m -0.1%, y/y. At 9:00 GMT, Swiss October ZEW sentiment index also due, last was -75.7. Eurozone Oct consumer confidence exp -20 from -19.1. At 13:00 GMT is the Troika press conference following third review of Ireland. Premium Intermarket Insights to be released at the start of the US session. For direct access to latest trades, click here: Non subscribers can get a 1-week trial here:


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