13 Feb 2014
Europe open: Focus on ECB monthly report on increasing intervention expectations
FXStreet (London) - Overnight, US congress voted to extend the debt ceiling until 2015, avoiding a repeat of previous stand-offs after Republican senate leaders quelled rebellion from the Tea party.
Weaker-than-expected Australian jobs numbers knocked the Aussie dollar, falling 0.21 percent on the data. Jobs fell by 3.7k versus the consensus expectation of 15k and adds to the 23k drop last month. While the weak jobs numbers have increased bets that the Reserve Bank of Australia will move to further cut rates from their current record-low 2.5 percent, the RBA has recently talked down employment expectations with the central bank cautious about triggering AUD strength.
Following yesterday’s weak industrial production data, today’s monthly report from the European Central Bank will be under close scrutiny, with increasing speculation over an ECB monetary response to the slowdown and to continuing crumbling of Eurozone private lending.
Today will see retail sales figures released in the US, with consensus expectations for a flat print after last month’s 0.2 percent rise. Sales ex-autos are expected to fare better, with upside potential on the 0.1 expectation after last month’s 0.7 percent jump.
Weaker-than-expected Australian jobs numbers knocked the Aussie dollar, falling 0.21 percent on the data. Jobs fell by 3.7k versus the consensus expectation of 15k and adds to the 23k drop last month. While the weak jobs numbers have increased bets that the Reserve Bank of Australia will move to further cut rates from their current record-low 2.5 percent, the RBA has recently talked down employment expectations with the central bank cautious about triggering AUD strength.
Following yesterday’s weak industrial production data, today’s monthly report from the European Central Bank will be under close scrutiny, with increasing speculation over an ECB monetary response to the slowdown and to continuing crumbling of Eurozone private lending.
Today will see retail sales figures released in the US, with consensus expectations for a flat print after last month’s 0.2 percent rise. Sales ex-autos are expected to fare better, with upside potential on the 0.1 expectation after last month’s 0.7 percent jump.