London Session Recap – December 6, 2013

  • Swiss CPI stays flat, eases deflation threat
  • U.K. consumer inflation expectations at 3.6%
  • German factory orders down by 2.2% instead of 0.4%

The Swiss franc was a big winner in today’s London trading session when Switzerland reported a flat CPI reading instead of the projected 0.2% decline, easing the threat of deflation for the previous month. The euro, on the other hand, lost its appeal when German printed a disappointing 2.2% decline in factory orders instead of the projected 0.4% drop. Aside from that, the previous month’s figure was revised down from 3.3% to 3.1%.

As for the U.K., consumer inflation expectations climbed from 3.2% to 3.6%, lending a bit of support for the British pound. Halifax HPI also came in stronger than expected as it showed a 1.1% jump in house prices.

Up ahead, we have the much-anticipated release of the U.S. NFP report. Hiring is expected to pick up by 180K, slightly slower compared to the previous 204K increase but still enough to push the jobless rate down from 7.3% to 7.2%. Also due in today’s U.S. session are Canadian jobs figures, which could print a 12.3K increase in employment.

Later on, data on U.S. personal spending and income are up for release and, although these figures aren’t likely to spark huge moves among dollar pairs, it might be worth taking note of the actual results as these could hint at spending and growth prospects. Preliminary UoM consumer sentiment data is also on deck and might show an improvement from 75.1 to 76.2.

See also:

U.S. Session Recap

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