German Retail Sales Misses Forecasts
May 4, 2009 by Danish FX · Leave a Comment
German Retail Sales came out lower than expected at -1.0 from the previously revised 0.0%. This data was forecast to be flat again today.
Germany Cuts GDP Outlook
April 29, 2009 by Danish FX · Leave a Comment
- Sees 2010 GDP at 0.5%
- Sees 2009 exports lower by 18.8%; up 0.9% in 2010 period
- Sees 2010 Imports down 10.9%; up 0.4% in 2010
- 2009 Avg unemployment at 3.72M; climbing to 4.62M in 2010
- German 2009 CPI at 0.3%; 2010 at 0.7%
- Still opposes additional economic stimulus measures
German Finance Minister Steinbrueck Comments
April 13, 2009 by Danish FX · Leave a Comment
German Fin Min Steinbrueck: World economy may encounter high inflation over medium term due to recent increased liquidity; Next crisis in the works due to debt financed ‘countermeasures’ to currenct crisis - newspaper interview
- Says that placing toxic assets in a single bad bank would put a burden of more than €200B on taxpayers; Sees that as unjustifiable
ECB’s Stark on the Wires
April 8, 2009 by Danish FX · Leave a Comment
ECB’s Stark: Lack of confidence in banking system is set to last longer than current economic downturn
- Crisis will lead to a situation of higher financing costs, this will lead to downward pressures on GDP
- Confidence in global banks will take some time to be recovered
- Their remains the risk of a decline in the size of banking sector, banks still key for finance in EMU economy
- Monetary policy will continue to be targeted at the medium term outlook, European fiscal policy should take a similar view
German Import Prices Released
April 3, 2009 by Danish FX · Leave a Comment
German Import Prices came out at -0.1%, up from the previous -0.5%. A rise to -0.3% was forecast.
German Unemployment Change Released
March 31, 2009 by Danish FX · Leave a Comment
German Unemployment Change came out at 69K up from the previously revised 50K. A rise to 53K was forecast.
The EUR softened up and came off session highs behind this weaker than expected employment data.
**Note: This data was correctly leaked about 10 minutes before the 3:55 AM official release.
UK’s Chancellor Darling on the Wires
March 26, 2009 by Danish FX · Leave a Comment
UK Chancellor Darling: Fixing banks is a prerequisite for recovery, Goverment must continue to support economy
- UK in ’severe’ economic downturn; have already made ’substantial stimulus’
- Says Germany also is experiencing serious downturn
- Cap or regulation of interest rate would not work
- Quantitative easing is essential in securing employment around the world
- Says Japan (in the 1990s) made the mistake of not dealing with bad assets
Gfk German Consumer Climate Released
March 26, 2009 by Danish FX · Leave a Comment
The Gfk German Consumer Climate came out at 2.4 from the previous 2.6. A slight drop to 2.5 was forecast for this release.
The EUR was softening up into this number and was largely unchanged after.
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