Saxo Bank | Apr 26, 2013 06:57AM ET
The last round of macro numbers before next week’s central bank bonanza! First quarter gross domestic product from the US and the monthly monetary aggregates from Europe are both important inputs for central bankers. Of some interest to CHF-watchers will be the Swiss National Bank’s Thomas Jordan, speaking at 08:00 GMT.
EU March Monetary developments in the euro area, M3 (08:00 GMT)
After confirmation earlier this week that the Eurozone’s economy is slowing (Markit PMI and IFO indices), the bank lending and money supply data for March is the last relevant data point before next week’s meeting of the European Central Bank’s governing council. Consensus forecast for the annualised M3 growth is 2.9 percent after February’s 3.1 percent. The forecast is somewhat outdated, as the surveys have been done before this week’s bad macro releases and especially the quarterly bank lending survey, published last Wednesday by the ECB. The survey confirmed weak loan demand for the first quarter of 2013 – mostly driven by “the substantial negative impact of fixed investment on the financing needs of firms”.
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.