FXStreet (Guatemala) – Analysts at Rabobank explained that today has a few data releases of interest.
“First up is German retail sales, seen up 1.0% MoM and yet somehow only 2.5% YoY: Wo sind die käufer? as Google Translate helps me ask. Then we have Eurozone M3 data, which has been on a positive trend and is expected to continue to accelerate to 4.9% YoY in April and 4.5% on a 3MMA basis. If it wasn’t for the fact that we’ve only just started QE, and that the M3 uptick is due to it, anyone might think it would be time to stop it again soon.”
“After that we are off East again, with India’s Q1 GDP print. Under their shiny new data methodology that is expected to see growth of 7.3% YoY, faster than China.”
“And then we stay with the same theme, but jump Westwards geographically and downwards from a data viewpoint, with the second look at Q1 US GDP. The expectations are that growth will be -0.8% QoQ annualized, but with USD soaring of late that weakness seems to be so last season, especially given the numbers are going to be double-seasonally adjusted ahead (which, as it is Friday, just reminded me of Animal House’s “double secret probation”).”
“Then we end the week with the Chicago PMI, expected to edge up to 53.0, and final Michigan confidence, seen at 89.5 vs. 88.6 last time out (but still far lower than the official US consumer confidence series).”
“Happy Friday, Folks! – and that’s a statement of desire, not a call, by the way.”
(Market News Provided by FXstreet)