Eurozone data hits the wires

Yesterday’s markets

31st August 2016

  • EUR German Prelim CPI m/m: 0.0%
  • EUR Spanish Flash CPI y/y: -0.1%
  • GBP Net Lending to Individuals m/m: 3.8B
  • USD CB Consumer Confidence: 101.1
  • AUD RBA Assist Gov Debelle Speaks
  • NZD ANZ Business Confidence: 15.5

The Greenback has been highly volatile in the recent trading sessions. We have seen a 1.5% change since last Friday after Fed Chair, Janet Yellen, addressed the market at the Jackson Hole symposium. The Dollar surged, as Yellen said “the economy is nearing the Fed’s goals of full employment and stable prices.” Yellen went onto say that she believes the case for an increase has strengthened in recent months. After Yellen’s comments, the chance of a rate hike in September has rose to 42%, and 65% in December respectively. A rate hike in September now depends on this week’s highly anticipated Non-Farm Payroll and Unemployment Rate figures, both scheduled to be released this Friday. 

Yesterday’s docket was pivotal for the Eurozone, as the powerhouse economy Germany, released some key inflation numbers. German Consumer Price Index registered at 0.0%, missing expectations and hitting a five-month low. In the afternoon, CB Consumer Confidence from the States registered a one year high of 101.1.

Today’s markets

30th August 2016

  • EUR German Retail Sales m/m
  • EUR German Unemployment Change
  • EUR CPI Flash Estimate y/y
  • EUR Core CPI Flash Estimate y/y
  • USD ADP Non-Farm Employment Change
  • USD Chicago PMI
  • USD Pending Home Sales m/m
  • USD Crude Oil Inventories
  • NZD Overseas Trade Index q/q
  • JPY Capital Spending q/y
  • AUD Private Capital Expenditure q/q
  • AUD Retail Sales m/m

Today, we receive another series of significant Eurozone readings. Eurozone CPI is released this morning and forecast to rise slightly to 0.3% y/y. Simultaneously, there will be the release of the Eurozone Unemployment Rate, scheduled to drop to a new five-year low of 10.0%. In the afternoon, we gain our first insight into Friday’s Non-Farm figures, with the ADP Non-Farm figure scheduled for release. The ADP reading is forecast to register at 173k.