EMU Consumer Price Index - Core (YoY)

Location: European Monetary Union

Date: 01/07/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.2%

Notes: The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive or bullish for the EUR, while a low reading is seen as negative.

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EMU Consumer Price Index (YoY)

Location: European Monetary Union

Date: 01/07/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.4% / Consensus: 1.5%

Notes: The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

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UK Consumer Credit

Location: United Kingdom

Date: 01/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: �0.524B

Notes: The Consumer Credit released by the Bank of England is an amount of money that individuals borrowed in the previous month. It shows if consumers can afford large expenses, which can fuel economic growth. However, a high figure may also indicate that the economy is overheating, as consumers borrow in order to live beyond their means. A high reading is seen as positive for the GBP, whereas a low reading is seen as negative.

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UK Net Lending to Individuals (MoM)

Location: United Kingdom

Date: 01/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: �1.4B

Notes: UK Net Lending to Individuals released by the Bank of England is a monthly measure of growth rates, amounts outstanding and changes in total lending to individuals, divided into lending secured on dwellings and consumer credit. It shows a picture of whether or not consumers are willing to spend money. A high reading is positive for the GBP, while a low reading is negative.

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UK Mortgage Approvals

Location: United Kingdom

Date: 01/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 53.71K

Notes: The Mortgage Approvals released by the Bank of England presents the number of various Mortgage Approvals. It is considered as a leading indicator of the U.K. Housing Market. A Mortgage growth represents a healthy housing market that stimulates the overall U.K. economy. Generally, a high reading is seen as positive ( or bullish ) for the GBP, while a low reading is seen as negative (or bearish )

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UK Markit Manufacturing PMI

Location: United Kingdom

Date: 01/07/2013

Time: 9:28 - 10:28

Strength: 2/3

Previous: 51.3

Notes: The Manufacturing Purchasing Managers Index (PMI) released by both the Chartered Institute of Purchasing & Supply and the Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the Manufacturing PMI is an important indicator of business conditions and the overall economic condition in UK. A result above 50 signals is bullish for the GBP, whereas a result below 50 is seen as bearish.

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DE Markit Manufacturing PMI

Location: Germany

Date: 01/07/2013

Time: 8:53 - 9:53

Strength: 2/3

Previous: 49.4 / Consensus: 48.7

Notes: The Manufacturing Purchasing Managers Index (PMI) released by Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the Manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. Normally, a result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.

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The 6am Cut

6am Cut London Posted 2013-07-01 05:41:44 by Kate Mackenzie Asian stocks outside Japan fell, after the official Chinese manufacturing PMI for June was only just in expansionary territory. However the Japanese Tankan business survey was slightly stronger than expected, boosting Japanese stocks. The yen weakened 0.2%. The MSCI Asia Pacific fell 0.2%. (Bloomberg)(Financial Times) The official Chinese manufacturing PMI fell to 50.1 last month from 50.8 in May. It was the lowest reading in four months and just slightly above expectations. Meanwhile the final HSBC/Markit PMI for June was confirmed at 48.2, the lowest level since September 2012 and down from May's final reading of 49.2. It was in line with a preliminary reading of 48.3 released on June 20. (Financial Times)(Reuters) Optimism outweighed pessimism for Japan's big manufacturers for the first time since September 2011, the country's Tankan survey showed. The survey results for the June quarter were +4 compared to a median economists' estimate of +3 in a Bloomberg survey. "Large companies from all industries plan to increase capital spending 5.5% in the year through March 2014." (Bloomberg) Kuwait plans $5bn UK investment: "The Kuwait Investment Authority is seeking to invest as much as $5bn directly over the next three to five years in infrastructure assets mostly in the UK, echoing asimilar move by Qatar." (Financial Times) Onyx rejects Amgen offer: "Cancer drugmaker Onyx Pharmaceuticals said on Sunday it rejected a roughly $10 billion takeover offer from larger biotechnology company Amgen as too low but still is considering selling itself." (Reuters) Samsung takes lion's share of European smartphones; Android dominates: Almost half of all smartphones sold in major European markets in recent months have been made by Samsung, and Android-based smartphones accounted for more than 70% of sales in the top five European markets in the three months to the end of May, compared with 61% in the same period the year before. (Financial Times) Apple did not pay UK corporation tax last year, according to its latest filings. (Financial Times) COMMENT AND CURIOS: - It's Mark Carney's first day at the BoE, and expectations are high. (Financial Times) - Wolfgang Münchau: The EU will regret terminating banking union plans. (Financial Times) - Investors are moving out of cash, and into bonds. (Financial Times) - Clues to bond market outlook are in who's moving to cash. (Bloomberg) - Bob Geldof says funds management 'criminally non-innovative'. (FTfm) - Apple's great leap into the market of China Mobile's customers. (Wall Street Journal) OVERNIGHT MARKETS: MIXED Asian markets Nikkei 225 up +8.15 (+0.06%) at 13,685 Topix up +9.58 (+0.84%) at 1,143 Hang Seng up +363.21 (+1.78%) at 20,803 US markets S&P 500 down -6.92 (-0.43%) at 1,606 DJIA down -114.89 (-0.76%) at 14,910 Nasdaq up +1.39 (+0.04%) at 3,403 European markets Eurofirst 300 down -5.25 (-0.45%) at 1,152 FTSE100 down -27.93 (-0.45%) at 6,215 CAC 40 down -23.28 (-0.62%) at 3,739 Dax down -31.53 (-0.39%) at 7,959 Currencies €/$ 1.30 (1.30) $/¥ 99.32 (99.12) £/$ 1.52 (1.52) Commodities ($) Brent Crude (ICE) down -0.21 at 101.95 Light Crude (Nymex) down -0.16 at 96.40 100 Oz Gold (Comex) up +10.90 at 1,235 Copper (Comex) up +0.01 at 3.06 10-year government bond yields (%) US 2.51% UK 2.44% Germany 1.73% CDS (closing levels) Markit iTraxx SovX Western Europe +0.08bps at 96.4bp Markit iTraxx Europe +2.53bps at 119.61bp Markit iTraxx Xover +4.06bps at 476.85bp Markit CDX IG +1.56bps at 87.5bp Sources: FT, Bloomberg, Markit
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DE Consumer Price Index (MoM)

Location: Germany

Date: 28/06/2013

Time: 13:00 - 14:00

Strength: 2/3

Previous: 0.4% / Consensus: 0.0%

Notes: The Germany consumer price index released by the Statistiches Bundesamt Deutschland measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes i

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DE Consumer Price Index (YoY)

Location: Germany

Date: 28/06/2013

Time: 13:00 - 14:00

Strength: 3/3

Previous: 1.5% / Consensus: 1.7%

Notes: The Germany consumer price index released by the Statistiches Bundesamt Deutschland measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes i

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DE Harmonised Index of Consumer Prices (MoM)

Location: Germany

Date: 28/06/2013

Time: 13:00 - 14:00

Strength: 2/3

Previous: 0.3% / Consensus: 0.0%

Notes: HICP is an index of consumer prices calculated and published by Destatis, the Statistical Office of the European Union, on the basis of a statistical methodology that has been harmonised across all EU member states. HICP is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area as a whole in quantitative terms.

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DE Harmonised Index of Consumer Prices (YoY)

Location: Germany

Date: 28/06/2013

Time: 13:00 - 14:00

Strength: 3/3

Previous: 1.6% / Consensus: 1.8%

Notes: HICP is an index of consumer prices calculated and published by Destatis, the Statistical Office of the European Union, on the basis of a statistical methodology that has been harmonised across all EU member states. HICP is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area as a whole in quantitative terms.

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DE Retail Sales (YoY)

Location: Germany

Date: 28/06/2013

Time: 7:00 - 8:00

Strength: 2/3

Previous: 1.8% / Consensus: 0.6%

Notes: The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales.The changes are widely followed as an indicator of consumer spending. The positive economic growth anticipates "Bullish for the EUR, while a low reading is seen as negative, or bearish, for the EUR.

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DE Retail Sales (MoM)

Location: Germany

Date: 28/06/2013

Time: 7:00 - 8:00

Strength: 2/3

Previous: -0.4% / Consensus: 0.2%

Notes: The Retail Sales released by the Statistisches Bundesamt Deutschland is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales.The changes are widely followed as an indicator of consumer spending. The positive economic growth usually anticipates "Bullish for the EUR, while a low reading is seen as negative, or bearish, for the EUR.

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UK Nationwide Housing Prices n.s.a (YoY)

Location: United Kingdom

Date: 28/06/2013

Time: 7:00 - 8:00

Strength: 2/3

Previous: 1.1% / Consensus: 2.0%

Notes: The Nationwide Housing Prices shows the value of the houses prices in UK and indicate current movements in the housing market that is considered as a sensitive factor to the UK's economy. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

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