We’ll start our report from New Zealand with the beginning of this week; as New Zealand’s performance of services index came at 53.2 in August, from a previous reading of 58.1 which was revised to 58.2. REINZ’s house sales report came in at 8.5% during the month of August, from a previous reading of 14.7% a year earlier. Moreover, REINZ Housing prices inclined to 2.1% in August, from a previous decline by 0.5%. The consumer confidence in New Zealand was also released today in New Zealand which came at 115.4 in the third quarter of the year, after a previous reading of 116.6. European region this week will be waiting some important data, particularly from the UK, which showed a relative improvement in the recent times, during this week, the BOE meeting minutes will be released, which will show the trends of the nine members of the policy committee. Also the consumer price index for the month of August will be revealed amid expectations that it will dip slightly to 2.7% from 2.8% for the month reading in July. For July’s reading the Office for National Statistics said that the decline in inflation during that period due to the lower prices of flights and clothes and shoes, in contrast, high diesel fuel prices had limited the decline. In the euro area less attention will be given to fundamentals noting that the most important report this week will be Germany’s investor’s confidence. , especially when that it may reflect the political momentum happening in the country at the moment ahead of the elections which will be held in the 22nd of this month amid strong competition among the candidates, led by Angela Merkel. German ZEW survey is predicted to climb to 20.0 in September from 18.3, according to the current situation gauge, while the expectations survey is estimated to rise to 45.5 from 42.0. The previous week in the United States of America, was relatively quiet on the economic level, hot on the political level, where we have seen over the past week the members of the U.S. Congress started their vote on the decision to launch a military attack on Syria, before U.S. President Barack Obama asked the members of the Congress to postpone the vote after the approval of the Syrian government on the Russian offer. A new week waiting for the U.S. markets to return them to the economic data task amid receding concerns about the Syrian file, as the consumer prices over the past month will be released in addition to the housing Starts next to building permits and jobless claims and finally existing home sales, and of course we will not forget the Fed’s meeting and the revised expectations for the Federal Bank for growth, inflation and unemployment for the next three years. In the currencies markets we notice that the Kiwi fell noticeably versus the U.S. dollar early Monday following a series of gains after data showed New Zealand’s consumer confidence decreased in the third quarter of the year, which led investors to trade in other currencies.
Posted on: Mon, 16 Sep 2013 08:04:07 +0000
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