Summary of week 8

Wednesday 
Labour conditions in the UK saw positive figures, with average earnings index and claimant counts beating estimates. Average earnings index increased by 2.1% versus the estimated 1.7% and previous period`s 1.8%. Claimant count change fell by 38.6 thousand versus the estimated 25.2 thousand and previous period`s 35.8 thousand. The MPC votes remained at 0-0-9.

In the US, building permits fell to 1.05 million versus the estimated 1.08 million and prior period`s 1.06 million. PPI too missed forecasts at -0.8% versus the estimated -0.4% and last month`s -0.2%.


Thursday
US FOMC minutes were out,

PPI in New Zealand dropped to -0.4% versus the estimated 0.2% but fairing better than last month`s -1.5% decline.

In Euro, the ECB released its monetary policy meeting accounts.

Unemployment claims improved in the US to 283 thousand, beating the estimated 293 thousand and last week`s 304 thousand. The Philly FED manufacturing index missed forecasts by a huge margin at 5.2 versus the estimated 8.8 and previous period`s 6.3


Friday
French flash manufacturing PMI declined again to 47.7 the estimated 49.7 and last month`s 49.2. Germany too missed estimated at 50.9 versus the forecasted 51.8 and last month`s 50.9.

Retail sales in the UK fell to -0.3%, versus the estimated -0.1% and prior period`s 0.2%.