TEST FROM BANK OF CANADA, PLEASE IGNORE

MNI BRIEF: US Existing Home Sales Fall 5.4% To 3.89M In June

MNI BRIEF: China Wants U.S. Firms To Deepen Investment

MNI China Daily Summary: Tuesday, July 23

MNI: PBOC Net Drains CNY408.7 Bln Via OMO Tues

MNI: PBOC Sets Yuan Parity Lower At 7.1334 Tues; -1.30% Y/Y

MNI: UK APR-JUN MEDIAN PAY AWARDS +4.9% :Brightmine

US Treasury Auction Calendar

BoC Data Watch

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Activity data due tomorrow at 7:00GMT

UK DATA
  • Tomorrow will see the ONS release monthly activity data for September and the first print of Q3 GDP.
  • The Bank of England’s November MPR forecasts see a flat Q3 GDP print (-0.02%Q/Q) while the Bloomberg consensus sees a -0.1%Q/Q print (with two-way risks).
  • The monthly GDP print is also expected to fall by -0.1%M/M in September, albeit with upside risks with each of the main components (services, IP, construction) all expected to show small falls.
  • Note that tomorrow's release will also see the recent Blue Book changes incorporated into monthly GDP (so the entire series will change - in line with some of the recent changes that we have seen in the quarterly series).
  • Activity data has been taking on increasing importance for the MPC as they view it as a way to assess impact of the passthrough of previous rate hikes.
  • Outside of the UK release, tomorrow morning will also see Scandi data and Italian industrial production while later in the day we will receive the Michigan survey in the US where inflation expectations will be closely watched in particular.
  • Given the lack of other large market moving events early in the day, there could be a decent move in UK markets on the back of the activity data. The MNI Markets team also expects that a disappointing print is likely to have more impact on FX, SONIA and gilt markets than a higher-than-expected print.
DataHomepagemarkets-real-timeData BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.