By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The USD/CNY is trading up at 6.3188 from yesterday’s close following the release of China’s trade figures, where gross volumes for both exports and imports remained elevated within their 2011 ranges. The trade surplus exceeded expectations of $9.9bn, at $18.4bn, as a result of the relative resiliency in exports, which rose at a pace of 4.9% y/y, while import growth was flat. However this pace was well below expectations, leaving a darker cloud on the horizon. Consumer inflation slowed last month while wholesale prices headed lower. The CPI rose 3.4% from a year earlier, contracting 0.1% on a month-on-month basis. The result was in line with expectations. The CPI rose 3.6% in March, following a 3.2% gain recorded in February, slightly beyond a 0.5% decline forecast by economists.
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Economic Data for May 10-11, 2012 actual v. forecast
|
EUR |
Dutch CPI (YoY) |
2.40% |
2.40% |
2.50% |
|
|
GBP |
Industrial Production (MoM) |
-0.3% |
-0.3% |
0.4% |
|
|
GBP |
Manufacturing Production (MoM) |
0.9% |
0.5% |
-1.1% |
|
|
GBP |
Industrial Production (YoY) |
-2.6% |
-2.6% |
-2.3% |
|
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
|
GBP |
BOE QE Total |
325B |
325B |
325B |
|
|
USD |
Import Price Index (MoM) |
-0.5% |
-0.2% |
1.5% |
|
|
Trade Balance |
0.4B |
1.0B |
0.3B |
||
|
USD |
Trade Balance |
-51.8B |
-50.0B |
-45.4B |
|
|
USD |
Initial Jobless Claims |
367K |
369K |
368K |
|
|
USD |
Continuing Jobless Claims |
3229K |
3278K |
3290K |
|
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.2% |
||
|
USD |
Federal Budget Balance |
59.1B |
30.0B |
-198.2B |
|
|
May 11 |
GBP |
Nationwide Consumer Confidence |
44 |
52 |
53 |
|
CNY |
Chinese CPI (YoY) |
3.4% |
3.3% |
3.6% |
|
|
CNY |
Chinese PPI (YoY) |
-0.7% |
-0.5% |
-0.3% |
|
|
CNY |
Chinese CPI (MoM) |
-0.1% |
-0.2% |
0.2% |
Upcoming Economic Events that affect the AUD, NZD, JPY, CNY and USD
|
May 14 |
02:30 |
AUD |
Home Loans (MoM) |
-2.5% |
|
|
May 16 |
01:30 |
AUD |
Westpac Consumer Sentiment |
-1.60% |
|
|
02:30 |
AUD |
Wage Price Index (QoQ) |
1.0% |
||
|
23:45 |
NZD |
PPI Input (QoQ) |
0.5% |
||
|
May 17 |
00:50 |
JPY |
GDP (QoQ) |
0.9% |
-0.2% |
|
05:30 |
JPY |
Industrial Production (MoM) |
1.0% |
Government Bond Auctions (this week)
Date Time Country
May 14 08:30 Spain
May 14 09:10 Italy
May 14 09:10 Slovakia
May 14 09:10 Norway
May 14 09:30 Germany
May 14 10:00 Norway
May 15 09:30 Belgium
May 15 09:30 UK
May 16 08:50 France
May 16 09:10 Sweden
May 16 09:30 Germany
May 16 09:50 France
May 16 14:30 Sweden
May 17 08:30 Spain
May 17 15:00 US
May 17 17:00 US
Originally posted here
