Market Brief – 10Mar – US

Posted: 11 Mar 2010, 2:33am (TRADING: Notes)


Risk Trades Rally Strongly Despite Weak UK and US Data

UK industrial production (Jan) posted a dreadful -0.4% m/m (+0.3% expected, 0.5% prior).

Germany CPI (Feb) was revised up to 0.4% m/m, +0.6% y/y (0.2/0.3 expected).

UK Prime Minister Gordon Brown says currency imbalances holding back global growth.

German Economy Minister reported to have said European Monetary Fund should only be for Eurozone states.

Swiss officials decline to comment following latest EUR/CHF spike.

Reuters reports the BoJ leaning towards easing monetary policy next week.

Norwegian core inflation (Feb) was in line with expectations at +1.9% on year.

US Wholesale Inventories (Jan) much weaker than expected -0.2% m/m (+0.2% m/m expected) and prior reading revised down to -1.0% from -0.8%.

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