Saxo Bank | Jun 28, 2013 07:27AM ET
Today’s data releases are not terribly important ones, but there are many of them. Tonnes of data came out of Japan last night and notably the inflation numbers are still not reacting to ‘Abenomics’, but at least the industrial production and PMI surprised positively. This could translate into a positive tone for the European morning session, as the data did not kill the idea that aggressive monetary policy can help an economy.
A European Union leaders’ two-day summit ends today. EU finance ministers hammered out the details by early Thursday morning, see FT’s blog article for background information. Today we have a total of four speakers from the Federal Reserve: Stein 12:00 GMT, Lacker 13:15 GMT, Pianalto 16:00 GMT, Williams 19:30 GMT. After Bernanke’s tapering-Federal Open Market Committee meeting last week, all Fed speeches have been quite accommodating, as this chart from Zero Hedge shows.
Germany May Retail Sales (06:00 GMT). A monthly fall of 0.3 percent in May is expected, after a fall of 0.4 percent in April. Retail sales have not been exactly ballooning during the past two years, and it is hoped that higher wages, low interest rates and a lull in the euro crisis will translate into happier consumers.
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Today’s data releases are not terribly important ones, but there are many of them. Tonnes of data came out of Japan last night and notably the inflation numbers are still not reacting to ‘Abenomics’, but at least the industrial production and PMI surprised positively. This could translate into a positive tone for the European morning session, as the data did not kill the idea that aggressive monetary policy can help an economy.
A European Union leaders’ two-day summit ends today. EU finance ministers hammered out the details by early Thursday morning, see FT’s blog article for background information. Today we have a total of four speakers from the Federal Reserve: Stein 12:00 GMT, Lacker 13:15 GMT, Pianalto 16:00 GMT, Williams 19:30 GMT. After Bernanke’s tapering-Federal Open Market Committee meeting last week, all Fed speeches have been quite accommodating, as this chart from Zero Hedge shows.
Germany May Retail Sales (06:00 GMT). A monthly fall of 0.3 percent in May is expected, after a fall of 0.4 percent in April. Retail sales have not been exactly ballooning during the past two years, and it is hoped that higher wages, low interest rates and a lull in the euro crisis will translate into happier consumers.
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