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Market View

....speculation Federal Reserve Chairman Ben S. Bernanke will hint at further stimulus today

Tuesday, July 17, 2012 3:47 AM GMT
 

        Good Morning ,

§  Asian stocks advanced for a third day, oil climbed and the Japanese yen weakened as an unexpected drop in U.S. retail sales stoked speculation Federal Reserve Chairman Ben S. Bernanke will hint at further stimulus today.

§  Japan's finance minister Azumi hit out at speculators betting on gains in the yen due to weak U.S. economic data, saying the yen's rise does not reflect Japan's fundamentals and hinting that the government is prepared to intervene to stem excessive moves

§  The IMF revised up 2012 growth forecast for Japan to 2.4% from 2% it predicted in April. But the fund expects Japan to grow at 1.5% next year, down from its previous projection of 1.7%

§  The Australian dollar rose to a near two-week high versus the greenback, and outperformed its New Zealand peer, after minutes of the Reserve Bank of Australia's July meeting suggested it was in no hurry to cut interest rates.

§  RBA Jul minutes: No need for any further adjustment, Rates a little below average are appropriate

§  Australia June new vehicle sales dip 0.6% m/m, but post a record for the month

§  NZ’s consumer prices eased to 1.0% y/y in Q2 from 1.6% y/y in Q1. Markets were close to the figures at 1.1% y/y

§  Moody's cuts rating for 13 Italian banks and istitutions

§  IMF approves Eur 1.48 bn loan disbursement to Portugal

§  IMF lowers China’s GDP growth to 8% in 2012 and to 8.5 in 2013 (from 8.8% previously)

§  China June FDI -6.9% y/y vs +0.1% in May

 

TODAY'S FIGURES

 

10.30

 

UK CPI mm and yy

10.30

 

UK RPI mm and yy

11.00

 

GE ZEW survey

14.30

 

CA Manufacturing sales

14.30

 

US CPI/ Ex Food and Fuel June

15.00

 

CA BoC rate decision exp unchanged at 1%

15.00

 

US Net l-T tic flows

15.15

 

US Industrial output

16.00

 

US NAHB housing market index

16.00

 

Fed Chairman Bernanke speaking

17.30

 

ECB s Asmussen speaks

19.15

 

US Fed's Pianalto speaks on skills mismatch problem

 
 
 

    (CET)


   Have  a  good day !

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