Yesterday’s Market Movers
- The M3 Money supply appeared lower than expected on both a YoY and MoM basis. In fact, less money in circulation helps inflation to increase, and so weaken the euro against all major currencies.
- The German CPI was published with a slight change. It increased from 2,3% to 2,4% on a YoY basis and from 0,1% to 0,3% on a MoM basis.
- Regarding the UK economy, another bad figure was published. The industrial trend survey dropped to -10%.
- In the US durable goods orders figures decreased, showing once again the dramatic situation of the US economy. But any figures from the US could impact the market, the concern is the debt and the possible downgrades of the US short term loans.
Today’s Market Movers
- This morning, Germany publishes the unemployment rate, which is expected to be flat compared to the previous month. At the same time, the unemployment change is estimated at 16K, which is better than previous.
- In the euro zone, both consumer and Industrial confidence are anticipated lower than the previous month. (CC -9,8 to -11,4) (IC 3,2 to 2).
- In spite of the agreement between European authorities, Euro is still weak and bad figures could affect the single currency.
- Jobless claims data from the US is predicted worst than previous.