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28 Jan 2014
European open: some declines in overnight volatility ahead of Fed meeting
FXstreet.com (London) - Overnight saw some declines in volatility with AUD recovering losses while the NZD held up ahead of the Reserve Bank of New Zealand’s official cash rate decision on Thursday.
The Australian Conference Board leading index came in at 0.2 versus 0.5 percent in November. The National Australia Bank conditions survey came in at 4.0 for December, versus -3.0 in November. The 4.0 print is the highest since April 2011.
Year-on-year Japanese corporate service prices rose 1.3 percent versus expectations of a 1.1 percent rise, up from 1.0 percent.
Already this morning we have seen German import prices decline fall flat instead of consensus expectations for a 0.2 percent rise. The flat reading leaves year-on-year prices down 2.3 percent.
French consumer confidence numbers were buoyant, inching above expectations to 86 versus 85 expectations.
UK GDP figures will be released at 9.30 GMT. Expectations had been for a big jump, up 2.8 percent year-on-year and 0.7 percent month-on-month. However, slightly softer recent data suggests that the UK may see slightly weaker numbers. Data from the Office for National Statistics (ONS) said that manufacturing activity and broader industrial output were both flat in November, while construction activity fell 4 percent – which could add up to a shortfall on growth expectations.
In the US, the main focus will be on the beginning of the Fed’s two-day FOMC meeting and on tomorrow’s potential tapering announcement. However, we also have December durable goods orders, expected to rise 1.8 percent. The S&P/Case Shiller Home Price for November is expected to see a slight deceleration on October, up 0.7 percent. The Conference Board consumer confidence number is expected to see a strengthening to 78.9, up from 78.0 in December.
The Australian Conference Board leading index came in at 0.2 versus 0.5 percent in November. The National Australia Bank conditions survey came in at 4.0 for December, versus -3.0 in November. The 4.0 print is the highest since April 2011.
Year-on-year Japanese corporate service prices rose 1.3 percent versus expectations of a 1.1 percent rise, up from 1.0 percent.
Already this morning we have seen German import prices decline fall flat instead of consensus expectations for a 0.2 percent rise. The flat reading leaves year-on-year prices down 2.3 percent.
French consumer confidence numbers were buoyant, inching above expectations to 86 versus 85 expectations.
UK GDP figures will be released at 9.30 GMT. Expectations had been for a big jump, up 2.8 percent year-on-year and 0.7 percent month-on-month. However, slightly softer recent data suggests that the UK may see slightly weaker numbers. Data from the Office for National Statistics (ONS) said that manufacturing activity and broader industrial output were both flat in November, while construction activity fell 4 percent – which could add up to a shortfall on growth expectations.
In the US, the main focus will be on the beginning of the Fed’s two-day FOMC meeting and on tomorrow’s potential tapering announcement. However, we also have December durable goods orders, expected to rise 1.8 percent. The S&P/Case Shiller Home Price for November is expected to see a slight deceleration on October, up 0.7 percent. The Conference Board consumer confidence number is expected to see a strengthening to 78.9, up from 78.0 in December.