Greece begins 2013 funding on solid footing
Notes/Observations
Notes/Observations
- Aus trade Nov Trade Balance registers its biggest deficit in 5 years
- Japan economic stimulus draft: To closely monitor fx moves, take appropriate actions when required
- Japan Fin Min Aso: Japan will buy ESM bonds; such purchases will help stabilize the JPY
- Fitch: India sovereign rating might be cut within the next 12-24 months; Reminder: India may be first of BRIC nations to lose investment-grade rating
- Swiss Unemployment hits 2-year high; Italy matches its 9-year high; Eurozone at fresh EMU record level
- German Nov exports recorded their sharpest monthly drop in over a year
- Greece starts 2013 funding on solid footing
- Belgium Bill auction saw steep decline in bid-to-cover ratios (Risk-on sentiment?)
- Alcoa [AA] kicks off US Corp earnings after the market close today
- (AU) Australia Dec Foreign Reserves: A$47.3B v A$46.2B prior
- (ZA) South Africa Dec Gross Reserves: $50.7B v $51.0Be; Net Reserves: $48.0B v $48.4B prior
- (CH) Swiss Dec Unemployment Rate: 3.3% v 3.3%e; Unemployment Rate Seasonally Adj): 3.0% v 3.0%e
- (DE) Germany Nov Current Account: €15.3B v €16.0Be; Trade Balance: €17.0B v €15.8Be; Imports M/M: -3.7% v 0.5%e; Exports M/M: -3.4% v -0.5%e
- (FR) France Nov Trade Balance: -€4.3B v -€4.8Be
- (HU) Hungary Nov Preliminary Industrial Production M/M: -0.1% v -3.8% prior; Y/Y: -6.9% v -3.5%e
- (TR) Turkey Nov Industrial Production WDA M/M: +1.5% v -2.4% prior; Y/Y: +3.1% v -0.8% prior; Industrial Production NSA Y/Y: +11.3 v -5.7% prior
- (EU) ECB: €105M borrowed in overnight loan facility vs. €127M prior; €244.5B parked in deposit facility vs. €252.6B prior
- (NO) Norway Nov Credit Indicator Growth Y/Y: 7.1% v 6.9%e
- (NO) Norway Nov Manufacturing Production M/M: -0.1% v +0.4%e; Y/Y: 2.4% v 2.7% prior
- (NO) Norway Nov Industrial Production M/M: -3.6% v 4.8% prior; Y/Y: -3.5% v 2.5% prior
- (IT) Italy Nov Preliminary Unemployment Rate: 11.1% v 11.2%e; matches high since Jan 2004
- (EU) Eurozone Nov Retail Sales M/M: 0.1% v 0.3%e; Y/Y: -2.6% v -2.1%e
- (EU) Eurozone Nov Unemployment Rate: 11.8% v 11.8%e (fresh EMU record level)
- (EU) Eurozone Dec Business Climate Indicator: -1.12 v -1.09e; Final Consumer Confidence: -26.5 v -26.6e; Economic Confidence: 87.0 v 86.3e; Industrial Confidence: -14.4 v -14.5e; Services Confidence: -9.8 v -11.5e
- (PT) Portugal Dec Consumer Confidence: -59.8 v -59.0 prior; Economic Climate Indicator: -4.4 v -4.3 prior
- (IT) Bank of Italy Dec Balance-Sheet Aggregates: ECB funding to banks in Italy: €271.8B vs. €273.3B prior (5th straight monthly decline)
- (BE) Belgium Dec Unemployment Rate: 7.4% v 7.5% prior