- Morning Data:
- UK data disappoints
- CPI y/y @ 1.5% versus 1.7% expected
- Core CPI y/y @ 1.6% vs. 1.7% expected
- PPI Input m/m @ -0.9% vs. 0.1% expected
- PPI Output m/m @ -0.1% vs. 0.1% expected
- RPI y/y @ 2.4% vs. 2.5% expected
- HPI y/y is better @ 9.9% vs. 9.1%
- CPI bad for currency and HPI good so Pound is mixed. Pound still knocking on the upper resistance line of a horizontal channel
- Euro Zone Not Doing as well
- German ZEW Economic Sentiment not good – 29.8 vs. 35.2 expected
- Euro Zone ZEW Economic Sentiment @ 58.4 vs. 59.6 expected
- EUR/USD is finding resistance at 1.3580 but still near four-month lows
- US CPI & Housing Data Took Opposite Turn Than UK
- CPI m/m was higher @ 0.4% than expected
- Core CPI was @ 0.3% vs. 0.2% forecast
- Building Permits at 0.99M were worse than 1.07M expected
- Housing Starts was @ 1.00M also lower than 1.04M forecast
- Futures dropped from a high of 1942.25 in early European session to 1931.25 after the US data
- UK data disappoints
- Morning Read
