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31 Jul 2014
Key events ahead; more from the US - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank give us the forthcoming events ahead.
Key Quotes:
“In the UK there are Nationwide house prices, seen up 0.5% MoM and 11.3% YoY, marking another economy where asset-prices are driving recovery”.
“In Germany there are retail sales, seen up 1.0% MoM (which is positive) but just 1.3% YoY (which is not): that spending should still be so sluggish in Europe’s strongest economy is one of the key reasons the bloc still has such large imbalances. Underlining that fact, German unemployment, also out, should decline a further 5K and the unemployment rate stay at 6.7% - very healthy again, but where is the matching consumption (and in a World-Cup winning month too!), bitte schön?”
“Europe has unemployment, seen at 11.6% (i.e., less than the US if we are looking at the “right” measure) and the July CPI estimate, expected at 0.5% YoY (not MoM!) and 0.8% on a core basis”.
“The US has weekly initial claims, which plunged last week but are seen back up to 300K this week, and the Chicago PMI, which is expected to remain white-hot at 63.0 (again underlining the Heisenberg quality to this recovery)”.
Key Quotes:
“In the UK there are Nationwide house prices, seen up 0.5% MoM and 11.3% YoY, marking another economy where asset-prices are driving recovery”.
“In Germany there are retail sales, seen up 1.0% MoM (which is positive) but just 1.3% YoY (which is not): that spending should still be so sluggish in Europe’s strongest economy is one of the key reasons the bloc still has such large imbalances. Underlining that fact, German unemployment, also out, should decline a further 5K and the unemployment rate stay at 6.7% - very healthy again, but where is the matching consumption (and in a World-Cup winning month too!), bitte schön?”
“Europe has unemployment, seen at 11.6% (i.e., less than the US if we are looking at the “right” measure) and the July CPI estimate, expected at 0.5% YoY (not MoM!) and 0.8% on a core basis”.
“The US has weekly initial claims, which plunged last week but are seen back up to 300K this week, and the Chicago PMI, which is expected to remain white-hot at 63.0 (again underlining the Heisenberg quality to this recovery)”.