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FXstreet.com (Barcelona) - The German DAX 30 (-1.00%), the French CAC 40 (-0.30%), the Italian FTSE MIB (-0.70%) and the Spanish IBEX 35 (-1.20%) are down on Friday following recent headlines around Greece and data in European countries, which are overshadowing today's encouraging October data in China. The monthly based China CPI contracted -0.1% in October and pushed the annualized figure lower from +1.9% to +1.7%. Chinese industrial production, retail sales and urban investment, all came in improved and above consensus at +9.6%, +14.5% and +20.7%, respectively, in October.

A disastrous industrial production report points to an annualized drop from +2.7% to -7.3% in September in Greece, while the CPI inflation report grows higher than expected, from +0.9% to +1.6%. The Harmonized CPI also beat consensus, from +0.3% to +0.9%. The Greek bank stability fund leader, Thomopoulos, admitted that 2013 will be a difficult year. Greece continues to trace its recessive path. Earlier this week, The Parliament approved the austerity bill worth ¬13.3B over two years while people were rioting in the streets. A EU official confirmed that the decision over the ¬31.3B aid tranche to Greece will not happen on November 12, as the finance ministers want to take a look at Troika's report first. The Greek deadline for insolvency approaches.

The German CPI data came mostly in line with expectations, at 2% (YoY) and 0% (MoM) in October. The French budget was narrowed from ¬-97.7B to ¬-85B, and industrial output fell from +1.5% to -2.7% (MoM). The industrial output in Italy improved on the yearly basis, from -5.2% to -4.8% in September, despite the -1.5% monthly contraction. Portugal saw its global trade deficit widening from ¬-2.183B to ¬-2.671B.

The UK total trade deficit narrowed from £-4.309B to £-2.699B in September, with Goods trade deficit improving more than expected from £-9.984B to £-8.368B, and the non-EU data better than expected from £-5.004B to £-3.972B. The British FTSE 100 falls by -0.53%.

Futures for the American S&P 500, Nasdaq 100 and Dow Jones 30 are signaling a lower opening between -0.07% and -0.32% ahead of the New York session with US import and export price index on the way.
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