Updates: October 21 25 2013 forex forecast fundamental outlook and sentiment for currencies German PPI: Monday, 6:00. German producer prices continued to drop in August, down 0.1%, following the same drop in the previous month. The fall occurred amid lower energy prices, despite of sharp increases in consumer goods. Economists expected PPI to rise by 0.1%. a rise of 0.1% is forecasted. German Bundesbank Monthly Report: Monday, 10:00. On the last report issued by the Deutsche Bundesbank in September, it was stated that Germany’s economy is expected to expand in the coming months despite a slow start in the third quarter. The private sector strengthened at its fastest rate since January, although manufacturing declined by 1.7% in July from the previous month. Nevertheless German economy is on a growth trend. Belgium NBB Business Climate: Wednesday, 13:00. Belgian business sentiment soared to its highest point since July 2011, reaching minus 6.7, following minus 8.6 in August. The most significant rise occurred in the service sector, boosted by fresh optimism on business outlook and anticipation for a rise in demand. Economists believe this is a step in the right direction for Belgium. Another improvement to -4.1 is anticipated this time. Consumer Confidence: Wednesday, 14:00. Consumer confidence in the 17 euro countries rose to -14.9 points in September from -15.6 points in August, though a bit lower than the -14 predicted by analysts. The reading was the best since August 201. The Eurozone pulled out of recession in the second quarter but recovery remains fragile. A better figure of -14 is forecasted. Manufacturing and Services PMIs: Thursday. Activity in the euro zone’s service sector surged in September to the highest level since June 2011, reaching 52.1 following 50.7 in August, indicating an ongoing steady recovery. Manufacturing activity in the euro zone increased at a slightly slower pace than in August, reaching 51.1 down from 51.4 in the previous month. The continued recovery is led by Germany and France. German manufacturing activity grew at a slower pace than in August, reaching 51.3, while the service sector improved to 54.4. French manufacturing activity declined in September to a 4-month low of 47.8, compared to 48.5 in August despite signs of recovery, while the private sector expanded to 50.7 from 48.9. French Manufacturing sector is expected to rebound to 50.3, while the Service sector is predicted to improve to 51.2, German Manufacturing sector is expected to reach 51.6, and the service sector is predicted to reach 53.8, The Euro-area Manufacturing sector is expected to advance to 51.4, while the service sector is expected to improve further to 52.3. Spanish Unemployment Rate: Thursday, 7:00. Spain’s unemployment rate unexpectedly declined for the first time in two years in the second quarter, reaching 26.3% following 27.2% in the first quarter. This fall gives further backing to the government’s announcement that the worst of the country’s economic slump may be over. Unemployment dropped mainly due to seasonal factors, bur the drop was better than expected. Another drop to 26.1% is expected. German Ifo Business Climate: Friday, 8:00. German business confidence improved less-than-expected in September, reaching 107.7 from 107.6 in August, but still increased to the highest level since March 2012. Economists expected a higher reading of 108.4.The Current conditions Index fell to 111.4 in September from 112.0 in August, below the 112.5 predicted by analysts. Business Expectations, for the next six months, improved to 104.2 this month from 103.3 in August, above forecasts for a reading of 104.0. German business confidence is expected to further improve reaching 108.2. M3 Money Supply: Friday, 8:00. The amount of domestic currency in circulation in the euro zone increased unexpectedly in August, rising 2.3% from 2.2% in the previous month. Analysts expected Euro Zone M3 Money Supply to remain unchanged at 2.2% last month. Anither gain of 2.3% is anticipated this time. *All times are GMT
Posted on: Mon, 21 Oct 2013 03:41:17 +0000
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