Economic Calendar (4/30/2009)
Thursday, April 30, 2009
Australian NAB Business Confidence
The first quarter NAB Business Confidence came in at -24, better than the prior quarters reading of -42. The bid Aussie had a limited reaction to this release.
Australian Conference Board Leading Index
The Aussie Conference Board Leading Index came in at +0.2% better than the prior reading of -0.6%. The risk pairs broke north as this report was released with the Nikkei opening up 1.4% and rising to +3.2% in the first few minutes of trading.
Japan’s Industrial Production
Japan’s Industrial Production reading for March was reported as follows:
Industrial Production (MoM) – Survey:0.8% Actual:1.6% Prior:-9.4%
Industrial Production (MoM) – Survey:-34.7% Actual:-34.2% Prior:-38.4%
The range bound Yen ahead of the Nikkei open, had a limited reaction to this better than expected report. This is was the first rise in the month over month figure since September of 2008.
Japan Manufacturing PMI
Japan’s Nomura Manufacturing PMI for April came in +41.1, still facing contraction, but much stronger than the prior months reading of 33.8.
UK’s GFK Consumer Confidence
In a thin market ahead of Tokyo’s open a better than expected Consumer Confidence number did little to help the Sterling, coming in at -27, better than -28 survey and -30 prior reading.
New Zealand Rate Decision
The New Zealand rate decision expected to be a 50 basis point cut from 3% to 2.5%, came in as expected. The Kiwi and subsequently the Aussie took a ride south, having appreciated significantly over the last 24 hours. The rate decision was accompanied by the following comments:
- RBNZ will keep the cash rate at or below the current level until 2010.
- Inflation is impacted by weaker global growth.
- Domestic economy remains weak.
World Health Organization looking to raise risk to Phase 5
The World Health Organization if moving toward raising the risk level of the Swine Flu to Phase 5.
Moving it up one notch, to phase 5, would indicate that the virus is causing multiple outbreaks, or widespread human infection.
Meanwhile the stock market is still up 200 points. Hmmm…
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