27 Jan 2015
Key events ahead for today - Rabobank
FXStreet (Guatemala) - Analysts at Rabobank explained the up and coming key events ahead for today.
Key Quotes:
"Today has the first estimate of UK Q4 GDP, seen 0.6% QoQ, down from 0.7% in Q3, but a higher 2.8% YoY. That would confirm the UK recovery is losing a little momentum but is still fairly robust, albeit based on shaky foundations in terms of housing and retail sales rather than exports and investment. Indeed, today also has BBA loans for house purchase, which are expected to moderate slightly to 36,500 as we head back down from the Help-to-Buy frenzy seen last year."
"US durable goods orders are out, where consensus is for a 0.3% MoM rise after a -0.9% print in November. As we dig deeper into the multi-layered report the news is expected to get better. Ex-transport a 0.6% gain is expected; capital goods orders ex-defence and aircraft are seen up 0.9%; and for core goods shipped consensus is 1.0% (but don’t mention that the market keeps expecting a sustained recovery in these orders, but that one has so far failed to arrive)."
"We also have S&P/CS house prices (where YoY growth is seen edging lower), new home sales, the Markit services PMI, and consumer confidence (expected to rise to 95.5, the highest since late 2007: just don’t mention the thought of USD200 oil!)."
Key Quotes:
"Today has the first estimate of UK Q4 GDP, seen 0.6% QoQ, down from 0.7% in Q3, but a higher 2.8% YoY. That would confirm the UK recovery is losing a little momentum but is still fairly robust, albeit based on shaky foundations in terms of housing and retail sales rather than exports and investment. Indeed, today also has BBA loans for house purchase, which are expected to moderate slightly to 36,500 as we head back down from the Help-to-Buy frenzy seen last year."
"US durable goods orders are out, where consensus is for a 0.3% MoM rise after a -0.9% print in November. As we dig deeper into the multi-layered report the news is expected to get better. Ex-transport a 0.6% gain is expected; capital goods orders ex-defence and aircraft are seen up 0.9%; and for core goods shipped consensus is 1.0% (but don’t mention that the market keeps expecting a sustained recovery in these orders, but that one has so far failed to arrive)."
"We also have S&P/CS house prices (where YoY growth is seen edging lower), new home sales, the Markit services PMI, and consumer confidence (expected to rise to 95.5, the highest since late 2007: just don’t mention the thought of USD200 oil!)."