GBP Climbs on Retail SalesMarch 27, 2014 Posted by: Joe O'Leary
The pound climbed for a fourth day versus the dollar as a report showing U.K. retail sales increased in February more than three times as much as economists forecast, boosting demand for Britain’s currency. New Zealand’s dollar rose to the strongest level since August 2011 against the U.S. currency after the nation posted a larger trade surplus for February than economists forecast. Norway’s krone jumped after central-bank Governor said policy makers will start gradually raising the key interest rate after mid-2015. The U.S. dollar stayed higher versus the yen after the US economy grew faster than previously estimated in the fourth quarter. However, the Yuan fell for a third day as the central bank weakened the fixing amid signs China will struggle to meet it 7.5 percent growth target this year.
• U.S. pending home sales fell 0.8% to 93.9 in February.
• US Q4 GDP growth was revised to 2.6% (median 2.7%) from 2.4% in the second release and 4.1% in Q3.
• U.K. retail sales data came in much stronger than expected 0.5% m/m, at +1.7% m/m.
• US jobless claims fell 10k to 311k (median 324k) for the week-ended March 22; the lowest mark since the holiday shortened Thanksgiving week.
• NYMEX crude supported at $101.36/bbl, up $1.10, as threats of further Western sanctions on Russia support.
• China's flash manufacturing PMI (HSBC/Markit) fell to 48.1 in March from a final 48.5 in February.
03/28 EUR: Economic, Consumer, Industrial, Business, Services Confidence Reports (Mar)
03/28 EUR: German CPI (Mar)
03/31 USD: Chicago Purchasing (Mar)
03/31 CAD: Canada GDP
03/31 EUR: German Ifo Business Climate, Expectations (Mar)
03/31 EUR: Consumer Price Index (Mar)
03/31 CAD: GDP (Jan)
03/31 JPY: Tankan Manufacturing Report (Q1)
03/31 RUB: Russian Manufacturing
03/27 EUR: German Unemployment Rate(Mar)
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