Thin trading ahead of key US economic data

Tuesday, November 25, 2014

Germany’s economy grew by 0.1% in Q3 2014, meeting analysts’ expectations and private consumption rose by 0.7% in Q3 compared to a modest 0.1% increase in Q2 2014. German exports climbed higher by 1.9% in Q3 2014 beating analysts’ estimates of 1.4%, while imports surged 1.7% compared to 1.6% rise in Q2 2014.

Germany's GDP rose 0.1% in Q3 2014

GRGDPPGQ Index (Germany GDP Chai 2014-11-25 09-07-37

The European equity markets were fairly mixed in early trade this morning, struggling for clear direction ahead of the release of key US macroeconomic indicators including GDP and personal consumption data for Q3 2014 as well as FHFA house price index in September and Richmond Fed manufacturing index in November.

EURUSD 

EURUSD Curncy (EUR-USD X-RATE)  2014-11-25 09-07-58

Asian equity markets traded fairly mixed overnight, as the Nikkei index edged higher adding 50.11 points to breach above 17,400, while the Hang Seng remained under pressure retreating slightly by 0.21% towards 23,840.

World powers negotiating over Iran’s nuclear programme gave themselves another seven months until March 2015 to decide on a deal, extending negotiations. Brent front month futures slid lower to retest $79 per barrel and WTI front month futures came under renewed pressure heading towards $75 per barrel. Investors’ attention will turn to the OPEC meeting on Thursday as OPEC officials gather in Vienna to discuss about possible oil production cuts.

 

Events for today:

 

0700

DE

Q3

GDP Final

1330

US

Q3

GDP

1330

US

Q3

Personal consumption

1400

US

Sep

FHFA House Price Index

1500

US

Nov

Richmond Fed

1500

US

Nov

Consumer Confidence Index

 

All times UK Local Time

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