Daily Market Report – 30/09/2014

USD
In the US yesterday, Industrial output fell by 0.1% in August, the first
monthly drop since January 2014. This is following on  from the 0.7%
month on month manufacturing gain in July. This is likely to be the
result of poor seasonal adjustment figures  with seasonal auto
shut-downs in July could be over-adjusted in July and weighing on the
August numbers.

EUR

USD
In the US yesterday, Industrial output fell by 0.1% in August, the first
monthly drop since January 2014. This is following on  from the 0.7%
month on month manufacturing gain in July. This is likely to be the
result of poor seasonal adjustment figures  with seasonal auto
shut-downs in July could be over-adjusted in July and weighing on the
August numbers.

EUR
The recovery in the euro area has remained disappointing especially in relation
to the largest economies Germany, France and Italy. Confidence  in
the euro one is  weakening with the current  state of demand is
reflected in the decline in inflation, which is near zero in the zone as a
whole and negative in several countries. The OECD has warned that the
eurozone’s weak inflation rate raises the risk of slipping into deflation,
which could spread stagnation and aggravate debt burdens.

GBP
The Bank of England reported mortgage approvals for house purchases eased back
to 64,212 from 66,100 in July and 66,923 in June. These figures were released
after Friday’s reports showing a slowdown in September. 

Lenders are to be prevented from allocating more than 15% of new residential
mortgages to individuals borrowing four and a half times their income or
greater. Policy makers have acknowledged the limit will only have an
impact if house prices rise more than 20% between now and early 2017.

Key Announcements:
08:55 BST – EUR :German Unemployment change(Sept)  expected to go to -2k
from 1k
09:30 BST- GBP : UK GDP – Q2 expected to go to 3.2% from 3.0%
10:00 BST -EUR : Eurozone Consumer Price Index (Sept)  expected to go
to 0.3% 0.4%
15:00 BST- USD: US Consumer confidence (Sept) expected to rise
to 92.5  from 92.4

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