EURIBOR: EURIBOR FIX
Dec-08 10:04
- EUR001W 1.3980 -0.0180
- EUR001M 1.5380 -0.0140
- EUR003M 1.9900 0.0130
- EUR006M 2.4560 0.0140
- EUR012M 2.8580 -0.0060
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CROSS ASSET: Some reversal across assets
Nov-08 10:03
- Some reversal across assets, with Equities and Govies back towards the top of the range.
- In Europe, Gilt leads and through session high with Bund, but US Treasuries are ahead.
- Similar story in FX with USD unwinding gains.
- Lower US yield push USDJPY to session low, and eyeing 146.00 for USDJPY.
MNI: EUROZONE SEP RETAIL SALES +0.4% M/M, -0.6% Y/Y
Nov-08 10:01
- MNI: EUROZONE SEP RETAIL SALES +0.4% M/M, -0.6% Y/Y
EUROZONE DATA: Modest Sep Retail Sales Set to Slow into Xmas Period
Nov-08 10:01
EUROZONE SEP RETAIL SALES +0.4% M/M (= FCST); AUG 0.0%r M/M
EUROZONE SEP RETAIL SALES -0.6% Y/Y (FCST -1.1%) AUG -1.4%r Y/Y
- Following upside surprises in German and Italian data, eurozone retail sales saw modest growth of +0.4% m/m in September, after stalling in August. Sales were down -0.6% compared to Sep 2021.
- Non-food rose by +1.0% m/m and food by +0.4% m/m, implying that consumption remained relatively robust. Auto fuel sales contracted by -0.6% m/m.
- With inflation reaching a fresh high of +10.7% y/y for the bloc in October, consumers are feeling the squeeze of soaring prices on disposable incomes, as highlighted in weak sentiment indicators.
- Heading into the holiday season, Xmas sales are anticipated to remain weak and not be brought forward as in 2021 (due to logistic issue concerns).
