New Zealand Credit card spending, November:
- For the m/m: +0.3% (prior was +1.5%, revised from+1.3%)
- For the y/y; +5.2% (prior was revised to +6.8% from +6.7%)
Headlines on Bloomberg
This was well telegraphed: China Statistics Bureau to revise 2013 GDP higher by just over 3%
Nomura tempers it somewhat with the comment that the RBA are more likely to cut :
(This from a client research note issued on Thursday)
Actually, I posted a very nice piece from Annette Beacher at TD Securities on the signposts to watch to see whether the next move is up or down for the RBA cash rate … here: What does the RBA need to see for a rate cut? Or … what do they need to hike?
(And also, check this out from just a few hours ago on … how the SNB decision to slip in negative rate territory might impact on the RBA and AUD)
UK GfK Consumer Confidence for December comes in at -4,
Comments from the GfK Consumer Confidence:
New Zealand data for:
ANZ Business confidence for December, 30.4
ANZ Activity Outlook for December, 37.3
Inflation expectations nearly unchanged at 2.13%
ANZ comments on the data:
Via the Washington Post, commenting on Russian president’s Vladimir Putin’s press conference (overnight Asian time):
As if that’s not bad enough … how about this to pique your interest?
French President Francois Hollande:
There have been plenty of comments coming after the one-day EU summit today (I had some of them earlier but soon drowned in verbiage … here is a run-down from AP via the UK’s Daily Mail … if you’re anything like me you will want to click away quickly after reading before becoming too engrossed in the ‘Don’t miss’ column down the right of page).
Posting this one because its obvious direct FX implications. Whether he is right or not, though …. ???
The headline crossed on Bloomberg and Reuters
Nigeria is Africa’s largest exporter of crude oil. The oil price falls have exposed vulnerabilities in the country (its government, for example, earns around 80% of its revenue from oil).
Nigeria’s currency, the naira, is under pressure and the central bank has imposed trading restrictions:
More at the Wall Street Journal (may be gated): Nigeria’s Central Bank Restricts Currency Trading to Prop Up Naira
UK PM Cameron:
Also comments from German Chancellor Merkel:
and so on…
EU President Tusk (Donald Tusk, former PM of Poland, now President of the European union):
From Statistics New Zealand this morning:
Strong migration numbers have implications for Reserve Bank of New Zealand policy:
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