LME Update:
Aluminum 878625 +11700
Copper 137600 -175
Nickel 26760 +828
Lead 24175 -300
Zinc 74250 +4100
Impact: Data is negative for Aluminum, Nickel and Zinc. Positive for Copper and Lead
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Monday, September 10, 2007
Currency Update
Focus on UK PPI and Fed Speakers
Yen and Swissy are mildly higher on risk aversion as the week starts. Meanwhile, dollar remains weak in tight range. UK PPI inflation will be the main featured economic data today. No US economic data is scheduled and markets focus will likely turn to Fed speakers including Lockhart, Yellen, Fisher and Mishkin. While a cut is widely expected, opinions on whether it will be 25bps or 50bps, or whether there will be an inter-meeting cut, is divided. Fed speakers will continue to be focus of the markets.
UK PPI input is expected to have another monthly drop of -0.2% mom while yoy rate is expected to be 1.9%. PPI output is expected to rise 0.2% mom, 2.5% yoy in Aug. Released in Asia, Japan Q2 GDP final print revised further lower than expected to -1.2% annualized rate, with qoq rate down to -0.3%. Though, the yen remains supported by risk aversion.
Yen and Swissy are mildly higher on risk aversion as the week starts. Meanwhile, dollar remains weak in tight range. UK PPI inflation will be the main featured economic data today. No US economic data is scheduled and markets focus will likely turn to Fed speakers including Lockhart, Yellen, Fisher and Mishkin. While a cut is widely expected, opinions on whether it will be 25bps or 50bps, or whether there will be an inter-meeting cut, is divided. Fed speakers will continue to be focus of the markets.
UK PPI input is expected to have another monthly drop of -0.2% mom while yoy rate is expected to be 1.9%. PPI output is expected to rise 0.2% mom, 2.5% yoy in Aug. Released in Asia, Japan Q2 GDP final print revised further lower than expected to -1.2% annualized rate, with qoq rate down to -0.3%. Though, the yen remains supported by risk aversion.
Saturday, September 8, 2007
US Economic Data Next Week
| Important US Data Next Week | |||||
| Week of September 10 - September 14 | |||||
| Date | IST | Release | For | Consensus | Prior |
| Sep 10 | 0:30 | Consumer Credit | Jul | $9.5B | $13.2B |
| Sep 11 | 18:00 | Trade Balance | Jul | -$59.0B | -$58.1B |
| Sep 12 | 20:00 | Crude Inventories | 07.szept | NA | -3972K |
| Sep 13 | 18:00 | Initial Claims | 08.szept | 330K | 318K |
| Sep 13 | 23:30 | Treasury Budget | Aug | -$85.0B | -$64.7B |
| Sep 14 | 18:00 | Current Account | Q2 | -$190.0B | -$192.6B |
| Sep 14 | 18:00 | Export Prices ex-ag. | Aug | NA | 0.0% |
| Sep 14 | 18:00 | Import Prices ex-oil | Aug | NA | 0.2% |
| Sep 14 | 18:00 | Retail Sales | Aug | 0.5% | 0.3% |
| Sep 14 | 18:00 | Retail Sales ex-auto | Aug | 0.2% | 0.4% |
| Sep 14 | 18:45 | Industrial Production | Aug | 0.3% | 0.3% |
| Sep 14 | 18:45 | Capacity Utilization | Aug | 82.0% | 81.9% |
| Sep 14 | 19:30 | Business Inventories | Jul | 0.3% | 0.4% |
| Sep 14 | 19:30 | Mich Sentiment-Prel. | Sep | máj.83 | ápr.83 |
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