London Session Recap – January 30, 2014

  • German unemployment change better than expected at -28K
  • U.K. net lending to individuals at 2.3bn GBP vs. 1.9bn GBP estimate
  • Swiss KOF economic barometer up from 1.95 to 1.98, short of 2.02 consensus
  • U.S. advanced GDP at 3.2% vs. 3.3% estimate
  • U.S. initial jobless claims up by 348K vs. expected 331K reading
  • U.S. pending home sales release coming up

There was no shortage of data in today’s London session, as reports were printed by Germany, the U.K., and Switzerland. Germany’s jobs data came in stronger than expected with a 28K decline in unemployment versus the estimated 5K decline while the preliminary CPI missed expectations of a 0.4% dip and showed a 0.6% drop. As for the U.K., net lending to individuals also came in strong at 2.3 billion GBP instead of the projected 1.9 billion GBP. Lastly, Switzerland reported an improvement in its KOF economic barometer from 1.95 to 1.98, a few notches shy of the 2.02 consensus.

A few minutes ago, the U.S. printed an advanced GDP reading of 3.2%, slightly lower than the 3.3% estimate. Initial jobless claims came in worse than expected with a 348K reading, higher than the estimated 331K figure.

Up ahead, the U.S. pending home sales data is up for release and might show a 0.1% decline, erasing part of the 0.2% gain in the previous month. Also due within the next few hours is New Zealand’s trade balance reading, which might show a 550 million NZD surplus.

See also:

Asian Session Recap

U.S. Session Recap

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