UK Construction Rebounds In February,UK PPI data stronger than expected, cable firmer


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Analysis: UK Construction Rebounds In February

Posted:

--Feb Nsa Construction Output +8.6% m/m; Down 0.3% y/y ...

Correct: MNI Survey: Japan Feb Machine Orders Seen -1.1% M/M

Posted:

-- Corrects 4th Paragraph to Say 1st Rise in 2 Qtrs, Instead of 3 Qtrs -- See Separate Table For Details Of Individual Forecasts TOKYO (MNI) - Japan's core private-sector machinery orders appear ...

UK DATA: Feb nsa construction output +8.6% m/m; y/y..

Posted:

UK DATA: Feb nsa construction output +8.6% m/m; -0.3% y/y ------------------------------------------------------------------------ Construction output bounced back sharply in Feb following a sharp falls in Dec and Jan, although remains well below the level seen in Nov last year. The figures are not seasonally adjusted so must be treated with caution, but may alleviate ...

UK Analysis: Mar Output Price Inflation Highest Since Oct 08

Posted:

--Mar producer output prices +0.9% m/m; +5.4% y/y --Mar core producer output prices +0.4% m/m; +3.0% y/y --Mar producer input prices +3.7% m/m; +14.6% y/y LONDON (MNI) - Headline output price inflation continued to rise in March, as higher petrol prices pushed it to its highest ...

UK DATA: Mar producer output prices +0.9% m/m; +5.4%.

Posted:

UK DATA: Mar producer output prices +0.9% m/m; +5.4% y/y --Mar core producer output prices +0.4% m/m; +3.0% y/y --Mar producer input prices +3.7% m/m; +14.6% y/y ------------------------------------------------------------------------ Output prices rose 0.9% m/m in Mar and were up 5.4% y/y, above the median for 0.6% m/m; 5.1% y/y and the highest annual ...

UK PPI data stronger than expected, cable firmer

Posted:

UK producer output prices +0.9% m/m, +5.4% y/y, stronger than median forecasts of +0.6%, +5.1% respectively. Cable has spiked higher in wake of data, presently at 1.6425. Input prices +3.7% m/m, +14.6% y/y, demonstrably stronger than median forecasts +2.1%, +12.5% respectively. Ratchets up pressure on Bank of England to go for early ...

UK data up soon….

Posted:

08:30 GMT: UK PPI for March. Input prices +2.1% m/m, +12.5% y/y. Output prices +0.6% m/m, +5.1% y/y. Fairly important numbers given current inflationary backdrop. Demonstrably stronger than expected numbers should be supportive sterling. Will increase likelihood of early BOE rate hike.

Germany Seeks Bids On E5 Bln New 6-Mon Bubills; Sale Apr 11

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FRANKFURT (MNI) - The German federal government is seeking bids for a E5 billion sale of new 6-month bubills, the Bundesbank confirmed Friday. Bids are due by 1000 GMT on Monday, April 11. The announcement of the auction results will ...

Irish FinMin: Will meet with German and French finance ministers Friday

Posted:

Will discuss promised reduction in bailout package (rate), does not expect anything to be resolved (I guess he means straight away) Would be surprised if Portugal does not get similar pricing of emergency loans to that of Greece

MNI Survey: Japan Feb Machine Orders Seen -1.1% M/M

Posted:

-- See Separate Table For Details Of Individual Forecasts TOKYO (MNI) - Japan's core private-sector machinery orders appear to have posted the first month-on-month drop in three months in February, down by ...

ECB Tumpel: Currency Union Is Also A Solidarity Union

Posted:

BERLIN (MNI) - The European Monetary Union is also a "solidarity" union, ECB Executive Board member Gertrude Tumpel-Gugerell said in remarks prepared for delivery on Friday. "Naturally the European Monetary Union is a solidarity union, the same as the European ...

Update: BoF Survey Signals Slowdown, Moderate Growth Ahead

Posted:

--Adds Results of Quarterly Supplement In Final Paragraphs PARIS (MNI) - French economic activity slowed somewhat in February and near-term prospects point to moderate growth ahead, the Bank of France said Friday, citing the results of its monthly business survey. As ...

Spanish Economy Minister: Portugal will be last country to need cash from bailout fund

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Spanish bailout possibility completely out of the question

EU’s Rehn: Is sure Spain will not need external assistance

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Has received official Portuguese request for aid Talks with Portugal to start "very quickly" Interest rate of EU loans to Portugal to be determinned in coming weeks

Bank of France cuts Q1 growth forecast

Posted:

Marginally, to 0.7% from 0.8%. Industrial activity, services growth slowed in March, but business outlook favourable.

Finland’s FinMin: We have to do whatever is needed to secure financial stablity in Europe

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Portugal package must be tougher than reforms voted down by Portuguese parliament in March Fiscal consolidation not enough for Portugal, rforms needed Very confident about Spain

Analysis: BoF Survey Signals Slowdown, Moderate Growth Ahead

Posted:

PARIS (MNI) - French economic activity slowed somewhat in February and near-term prospects point to moderate growth ahead, the Bank of France said Friday, citing its monthly business survey. As a result, the central bank trimmed its projection from last ...

Belgian FinMin: Have to aid Portugal like Greece and Ireland

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Have to see what Portugal can do in terms of fiscal consolidation Size of possible Portugal aid of 80-85 bln is reasonable Possible to fence the situation around Portugal, Greece and Ireland No discussion of Greek debt restructuring

German Feb s.a trade surplus 11.4 bln

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Below median forecast of 12.5 bln. Exports +2.7% m/m, imports +3.7% m/m. EUR/USD sits at 1.4395. Sean mentioned stops above 1.4410. There is also talk of barrier option interest at 1.4430.

Swiss unadj jobless rate 3.4% in March, as expected

Posted:

Seasonally adjusted rate 3.3%, also as expected.

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