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The USD is closed to 4 months lows and EURUSD rose to 1.2930 in Asia...

Thursday, September 13, 2012 3:46 AM GMT

  Good Morning,


 

§The USD is closed to 4 months lows and EURUSD rose to 1.2930 in Asia ahead of tonight's FOMC meeting. Dutch PM's Rutte Liberal Party won the elections in Holland. The Swiss National bank will meet this morning, I see no reason why the should give other guidance for rates and the floor given the recent numbers Switzerland and incidents in the financial markets.

 

§Stocks: Nikkei +0.48 %, Hang Seng +0.10 %, Shanghai Composite -0.47 %, Dow Jones +0.07 %, S+P500 +0.21 %

 

§Dutch Prime Minister Mark Rutte's Liberal Party beat the Labor Party by two seats in national elections, paving the way for him to lead a probable coalition between his pro-business party and Labor. Rutte's Liberals took 41 of the 150 seats in yesterday's vote, up from the 31 in the outgoing parliament, according to news agency ANP after 98 percent of votes were counted. The Labor Party won 39 seats, up from 30. D66 rose to 12 from 10, as the Christian Democrats lost eight seats to 13. Geert Wilders's anti-euro Freedom Party lost nine seats to 15.

 

§The Bank of England said its market contacts are skeptical that improvements in sentiment after measures to tackle the euro-area turmoil will be sustained as the region continues to face major challenges. "Market sentiment appeared to improve in the second half of the review period," the Bank of England said in its Quarterly Bulletin published today in London. "Some contacts cautioned against placing much weight on this, however, given the seasonal lull in some financial markets during July and August, and the fact that many of the fundamental challenges facing the euro area remained."

 

§Australia Data Recap       Period      Survey     Actual     Prior

* Consumer Inflation Exp.     Sep             -           2.4 %    2.4 %

 

§The Reserve Bank of New Zealand held its benchmark interest rate at 2.50% Thursday amid concerns about Europe's debt crisis, a slowdown in China and the strong New Zealand dollar. "New Zealand's trading partner outlook remains weak. Several euro-area economies are in recession and Chinese growth has slowed. The risk of significant deterioration in the euro area persists," outgoing Reserve Bank Governor Alan Bollard said in a press release. "It remains appropriated for the OCR to be held at 2.5%."

 

§NZ Data Recap      Period      Survey     Actual     Prior

* Business PMI          Aug              -           47.2       49.4

 

§The Bank of Korea unexpectedly held borrowing costs, opting to preserve policy room in the event of a deeper global slowdown after the government boosted support measures with spending and tax cuts. Governor Kim Choong Soo and his board kept the benchmark seven-day repurchase rate at 3 percent after a surprise cut in July, the central bank said in a statement today in Seoul.


 

14:30

US PPI Aug

14:30

US Initial Claims

18:30

US FOMC Rate Decision

20:15

Fed Bernanke Press Conf

10:00

ECB Monthly Report

12:00

ECB Nowotny

09:15

Switzerland PPI Aug

09:30

SNB 3 Month Libor Target

09:30

Swiss Central Bank Holds Monetary Policy Assessment

09:30

Sweden Unemployment Rate Aug

09:30

Sweden CPI Aug

14:30

Canada Capacity Utilization Rate Q2

14:30

Canada New Housing Price Index July

 (CET)


Have a nice day !

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