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- Japan Extra Budget To Raise GDP 0.6 Pt, Create 200,000 Jobs
- JAPAN DATA: The Japanese government says that its Y4.
- ECB’s Orphanides: Greek debt restructuring would be “wrong, unnecessary” and “very bad idea”
- UK government expected recovery to be choppy, but GDP data shows has set right economic course – Treasury
- UK BBA: Credit, Mortgage Conditions See Slight Improvement
- UK Analysis: GDP Rises In Q1 But Held Back By Construction
- UK DATA: Q1 Preliminary GDP up to +0.5% q/q; +1.8%…
- ECB: EMU Banks Sees Credit Tightening Trend Continuing In 2Q
- UK Q1 GDP +0.5% m/m, +1.8% y/y
- EUR/GBP trading firmer
- Germany: Hesse April CPI +0.3% M/M; Brandenburg +0.2% M/M
- Update: BOE Sentance: UK Continues To Need Gradual Rate Hikes
- Italy April consumer morale falls to 103.7
- Bank of Korea may have bought more than $300 mln to curb won’s strength – Traders
- BOE’s Sentance: Evidence recovery is continuing, expect that to be reflected in Q1 GDP data – Radio
- BOE Sentance: Hasn’t Changed View; UK Needs Gradual Rate Hikes
- Germany: Saxony April CPI +0.4% M/M; Above Pan-German Fcast
- FRANCE DATA: April consumer morale unchanged at 83,..
- Cable slips back as European trading gets underway
- French April consumer confidence 83
| Japan Extra Budget To Raise GDP 0.6 Pt, Create 200,000 Jobs Posted: TOKYO (MNI) - The Japanese government said on Wednesday that its Y4 trillion first supplementary budget for rebuilding quake-hit areas is estimated to push up Japan's gross domestic product by a real 0.6 percentage point. The Cabinet Office also said ...    |
| JAPAN DATA: The Japanese government says that its Y4. Posted: JAPAN DATA: The Japanese government says that its Y4 trillion first supplementary budget for rebuilding quake-hit areas is estimated to push up Japan's gross domestic product by a real 0.6 percentage point. The Cabinet Office also estimates the budget will create 200,000 jobs and support firms to maintain 1.5 million ...  |
| ECB’s Orphanides: Greek debt restructuring would be “wrong, unnecessary” and “very bad idea” Posted: Sees significant progress by Greece on implementing its austerity programme No reason to doubt commitment of Greek govt to continue IMF/EU programme Meanwhile in the real world...... Greek 10 year govt bond yields up 29 bps on day to euro-era record high of 15.86% Greek 5 year credit default swaps rise 37 bps on ...  |
| Posted: Cable trips stops through 1.6530 and we're up at 1.6545.  |
| UK BBA: Credit, Mortgage Conditions See Slight Improvement Posted: --UK BBA: Mar S.adj Mortgage Approvals 31,660 vs 30,178 In Feb LONDON (MNI) - Mortgage and credit conditions improved only slightly in March for households or businesses, the British Bankers' Association reported today. Approvals for house purchase rose to 31,660, up ...  |
| UK Analysis: GDP Rises In Q1 But Held Back By Construction Posted: --Q1 Preliminary GDP +0.5% q/q; +1.8% y/y --Q1 GDP in line with median forecast of +0.5% q/q LONDON (MNI) - UK economic growth bounced back in the first quarter of the year, although probably not by enough to prompt a rise in interest rates as early as ...  |
| UK DATA: Q1 Preliminary GDP up to +0.5% q/q; +1.8%… Posted: UK DATA: Q1 Preliminary GDP up to +0.5% q/q; +1.8% y/y --Q1 GDP in line with median forecast of +0.5% q/q ------------------------------------------------------------------------ GDP rose 0.5% q/q in Q1 and by 1.8% y/y, in line with the median forecast. While services growth rose a healthy 0.9% q/q and manufacturing was up 1.1%, overall growth ...  |
| ECB: EMU Banks Sees Credit Tightening Trend Continuing In 2Q Posted: -- Banks Still See Deterioration In Money Market Access Beyond 1 Week FRANKFURT (MNI) - Eurozone banks euro area banks expect a further moderate tightening of credit standards for both non-financial corporations and households in the second quarter of the year, continuing the trend of the ...  |
| UK Q1 GDP +0.5% m/m, +1.8% y/y Posted: Exactly in line with median forecasts. With the Chancellor having spooked the market into fearing worse than expected data we're seeing a relief rally in cable as the numbers come in as expected. We're back over 1.6500, presently at 1.6515. Talk of stops through 1.6530 in cable now.  |
| Posted: Amid conflicting reports. Getting reports of corporate buy interest, but more interestingly also reports of Bundesbank buying the cross. Doing their month-end stuff early? Makes some sense given holiday in UK Friday. Cross up at 8918 from around 8895 when I sat down. UPDATE: UK clearer buys cable off session low 1.6433. We're ...  |
| Germany: Hesse April CPI +0.3% M/M; Brandenburg +0.2% M/M Posted: Hesse CPI April: +0.3% m/m, +2.1% y/y March: +0.4% m/m, +1.8% y/y --- Brandenburg CPI April: +0.2% m/m, +2.2% y/y March: +0.5% m/m, +2.0% y/y --- Pan-German CPI MNI median forecast: +0.1% m/m, +2.2% y/y MNI forecast range: -0.1% to +0.4% m/m March: +0.5% m/m, +2.1% y/y --- BERLIN (MNI) - Consumer prices in the western German ...  |
| Update: BOE Sentance: UK Continues To Need Gradual Rate Hikes Posted: -- Adds Comments From BBC Radio Interview LONDON (MNI) - Bank of England Monetary Policy Committee Member Andrew Sentance has again called for gradual increases in Bank Rate in order to tackle persistent above-target inflation. In an interview with the Manchester ...  |
| Italy April consumer morale falls to 103.7 Posted: From 105.1 in March, below median forecast of 105.0. Lowest since March 2009.  |
| Bank of Korea may have bought more than $300 mln to curb won’s strength – Traders Posted: Meanwhile, talk of Malaysian central bank buying in region $300-400 mln to curb ringgits' strength. Some of those dollar's will be rediversified into euros. Same as it ever was. EUR/USD sits at 1.4665, marginally easier on the day. Eastern European sales were noted early. Talk of sell stops through 1.4640.  |
| BOE’s Sentance: Evidence recovery is continuing, expect that to be reflected in Q1 GDP data – Radio Posted: That's it Andrew, muddy the waters a little bit more why don't ya. When's he going? Not soon enough.... Cable sits at session low 1.6445. Just getting talk of Asian sovereign buying in recent trade. Not providing much of a lift so far. Infact no lift.  |
| BOE Sentance: Hasn’t Changed View; UK Needs Gradual Rate Hikes Posted: LONDON (MNI) - Bank of England Monetary Policy Committee Member Andrew Sentance has again called for gradual increases in Bank Rate in order to tackle persistent above-target inflation. In an interview with the Manchester Evening News newspaper, Sentance said that ...  |
| Germany: Saxony April CPI +0.4% M/M; Above Pan-German Fcast Posted: Saxony CPI April: +0.4% m/m, +2.5% y/y March: +0.5% m/m, +2.0% y/y --- Pan-German CPI MNI median forecast: +0.1% m/m, +2.2% y/y MNI forecast range: -0.1% to +0.4% m/m March: +0.5% m/m, +2.1% y/y --- BERLIN (MNI)- Consumer prices in the eastern German state of Saxony rose 0.4% in April, lifting the ...  |
| FRANCE DATA: April consumer morale unchanged at 83,.. Posted: FRANCE DATA: April consumer morale unchanged at 83, as expected -- Future inflation worries down nine points -- Buying-propensity unchanged -- Jobless fears up one point -- For more information, please see MNI Newswires  |
| Cable slips back as European trading gets underway Posted: Back below 1.6500, presently at 1.6475. Obviously some wariness surrounding the release of Q1 GDP data. Something to tuck away in the old memory bank; talk of sterling demand lined up for the 11:00 BST fix today, apparently related to UK clearer dividend payment.  |
| French April consumer confidence 83 Posted: Unchanged from March and in line with the median forecast.  |
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