UK Analysis: Q3 Current Account Deficit Highest On Record




Link to ForexLive
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–Q3 Current Account Deficit Stg15.226bn Vs Stg7.386bn Q2 LONDON (MNI) — The UK’s current account deficit ballooned in the third quarter to its highest level on record, figures released by National Statistics revealed Thursday. The data show the UK’s external position in a far worse state than first thought, with a sharp upward revision to [...]
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–Q3 Revised GDP +0.6% q/q; +0.5% y/y LONDON (MNI) – Economic growth in the third quarter was revised up slightly, but the outlook for growth remains fragile, figures released from National Statistics showed Thursday. GDP was revised up to show an increase of 0.6% on the quarter in Q3 compared with the initially estimated 0.5% [...]
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UK DATA: Q3 Current Account Deficit Highest On Record –Q3 Current Account Deficit Stg15.226bn Vs Stg7.386bn Q2 ———————————————————————— The current account deficit ballooned in Q3 to the highest level on record and the highest as a proportion of GDP since Q2 1990. This was mainly due a to a widening in the visible trade balance [...]
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UK DATA: Q3 Revised GDP +0.6% q/q; +0.5% y/y; median 0.5% q/q; 0.5% y/y ———————————————————————— Q3 economic growth was revised up slightly, but the outlook for growth remains fragile. GDP was revised up to show an increase of 0.6% on the quarter in Q3 compared with the initially estimated 0.5% rise, above the median forecast [...]
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(expected +0.5% q/q. +0.5% y/y) Q2 revised down to unchanged q/q from +0.1% q/q Q3 Services rev to +0.7% from +0.6%, indust prod rev down to +0.2% from +o.4% q/q, Construct rev up to +0.3%  from -0.2% q/q Q3 C/A deficit highest on record at £15.226 bln from  £7.386 bln in Q2 Littl reaction from GBP/USD  [...]
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ITALY DATA: October retail sales rose 0.1% m/m in SA nominal terms, as an increase discounted food sales fuelled the first increase in six consecutive months. In y/y terms, retails sales fell 1.5%, up from a 1.6% contraction in September. –The three-month moving average contracted 0.5% in the months from August to October, compared with [...]
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unadjusted -1.5% y/y from -1.6% in Sep. Food nsa +0.9% from+0.7% in Sep, Non-food nsa -2.5%  unchanged from Sep
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Some talk that a Middle Eastern name was a buyer up from  the 1.5680, but now being told a small sovereign name has been doing the rounds selling above 1.5720. We touched  a day’s high of 1.5729  just now. Talk of some offers  towards 1.5750, and larger at  1.5770/75, Bids at 1.5655/60 and 1.5620/25
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So I’m being told, but  told some decent resistance now sitting up at 1.3130/50. We just touched  a high of 1.3110 and are sitting around 1.3104 now
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In case it hasn’t already been mentioned there is a lot of option interest today in the AUD/USD.. There’s a very large 1.0000 strike  (1+ yard of AUD) which runs off at the 1000EDT/1500GMT cut and there are smaller ones at , 1.0050, 1.0100 and 1.0125 There’s also a 1.3000 EUR/AUD strike but i haven’t any [...]
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As Adam mentioned earlier there are some reported buy orders down at 1.3020 ahead of a large expiry today at 1.3000. Offers are said to be in place up above 1.3080 and the 31.8% retracement of yesterday’s range lies at  1.3090. We’re sitting at 1.3070
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All those statistic  junkies out there are going to be a bit short changed today, witb the only real focus this morning being the UK  Final Q3 GDP  numbers and Q3 balance of payment due out at 0930GMT. GDP expectations are for  unchanged around 0.5%, with the C/A balance expected around -£6.3/6.5 bln Gerry’s off filling [...]
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JAPAN DATA: From FY2012 economic forecasts by the government: – JAPAN GOVT FORECAST LOWERED FOR FY2012 REAL GDP AT +2.2% Y/Y – JAPAN REVISES FY11 REAL GDP FORECAST TO -0.1% FROM +0.5%
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JAPAN DATA: Economic growth forecast released by the government: – Japan Govt Forecasts FY2012 Real GDP +2.2%, Was +2.7% to +2.9% – Japan Revises FY11 Real GDP Forecast To -0.1% From +0.5%
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– Japan Revises FY11 Real GDP Forecast To -0.1% From +0.5% TOKYO (MNI) – The government on Thursday forecast that Japan’s economy will grow a real 2.2% in fiscal 2012 starting next April, up from an estimated -0.1% in the current fiscal year. The forecast for fiscal 2011 was revised down from an earlier projection [...]
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Below the US lows and down to $1603.
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– See Separate Table For Details of Individual Forecasts TOKYO (MNI) – Japanese housing starts are expected to have declined 5.0% in November, which would be a third straight monthly year-on-year drop, according to the median forecast of analysts surveyed by Market News International. The Ministry of Land, Infrastructure, Transport and Tourism will release the [...]
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New Zealand Q3 GDP +0.8% vs +0.6% exp but downward revisions show y/y growth worse than expected PBOC survey shows consumer inflation expectations falling, businesses pessimistic Australian Melbourne Institute Household Financial Conditions Index falls 11.6% in December Several large Chinese cities will continue home ownership restrictions in 2012 but they may be fine tuned Chinese [...]
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– Japan November Supermarket Sales -2.3% Y/Y; Oct -0.9% – Japan Sales Post Falls For 4 Months In Row TOKYO (MNI) – Sales at supermarkets in Japan open for at least a year fell 2.3% in November from a year earlier to Y1.040 trillion, posting y/y falls for four months in a row, an industry [...]
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TOKYO (MNI) – The Bank of Japan on Thursday offered a cautious outlook for Japan’s capital investment in the coming months. “Business fixed investment is projected to continue a moderate increasing trend, partly due to efforts by firms to restore and reconstruct disaster-stricken facilities, although it will be affected by the slowdown in overseas economies [...]
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