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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK Halifax house price index rose more than expected in October
On a MoM basis, the Halifax house price index climbed 0.30% in the UK, in October, more than market expectations for an advance of 0.20%. The Halifax house price index had registered a rise of 0.80% in the prior month.
UK Halifax house price index rose as expected in the August-October 2017 period
In the UK, the Halifax house price index recorded a rise of 4.50% on a YoY basis in the August-October 2017 period, at par with market expectations. In the July-September 2017 period, the Halifax house price index had climbed 4.00%.
The ECB Chief said there is little evidence that negative interest rates have affected profitability of banks
The ECB President, Mario Draghi, stated that most of the financial stability issues that were linked to low interest rates did not materialise and there is hardly any evidence that current negative interest rates in the Euro-zone are hurting profitability of banks in the region. Draghi also indicated that various reforms undertaken by European banks has strengthened the EU banking sector.
Euro-zone retail PMI declined in October
In October, the retail PMI in the Euro-zone recorded a drop to 51.10, compared to a reading of 52.30 in the prior month.
Euro-zone retail sales advanced more than expected in September
In September, the seasonally adjusted retail sales advanced 0.70% on a monthly basis in the Euro-zone, more than market expectations for a rise of 0.60%. In the prior month, retail sales had fallen by a revised 0.10%.
Euro-zone retail sales advanced more than expected in September
In September, the seasonally adjusted retail sales recorded a rise of 3.70% on a YoY basis in the Euro-zone, compared to a revised rise of 2.30% in the previous month. Markets were expecting retail sales to climb 2.80%.
German industrial production advanced less than expected in September
In Germany, the non-seasonally & working day adjusted industrial production registered a rise of 3.60% in September on an annual basis, compared to a revised rise of 4.60% in the previous month. Markets were anticipating industrial production to advance 4.50%.
German industrial production dropped more than expected in September
In September, the seasonally adjusted industrial production slid 1.60% in Germany, on a MoM basis, more than market expectations for a fall of 0.90%. Industrial production had risen 2.60% in the prior month.
French budget deficit narrowed in September
Budget deficit in France dropped to €76.30 billion in September, following a budget deficit of €93.00 billion in the prior month.
Italian retail sales rose more than expected in September
In September, the non-seasonally adjusted retail sales advanced 3.40% in Italy on a YoY basis, more than market expectations for an advance of 0.50%. Retail sales had fallen by a revised 0.10% in the previous month.
Italian retail sales advanced more than expected in September
In Italy, the seasonally adjusted retail sales recorded a rise of 0.90% in September on a MoM basis, compared to a revised drop of 0.20% in the previous month. Markets were expecting retail sales to rise 0.20%.
Swiss foreign currency reserves climbed in October
Foreign currency reserves recorded a rise to CHF 741.50 billion in October, in Switzerland. Foreign currency reserves had recorded a revised level of CHF 724.50 billion in the prior month.
US Redbook index climbed in the last week
On a YoY basis, the Redbook index advanced 2.60% in the week ended 03 November 2017, in the US. In the prior week, the Redbook index had risen by a revised 3.50%.
US consumer credit rose more than expected in September
In September, consumer credit registered a rise of $20.83 billion in the US, compared to a revised advance of $13.14 billion in the previous month. Markets were expecting consumer credit to advance $17.50 billion.
US Redbook index dropped in the last week
The seasonally adjusted Redbook index slid 1.00% on a MoM basis in the US, in the week ended 03 November 2017. In the prior week, the Redbook index had dropped 1.30%.
US JOLTs job openings surprisingly climbed in September
In September, JOLTs job openings unexpectedly advanced to a level of 6093.00 K in the US, compared with market expectations of a fall to a level of 6075.00 K. In the previous month, JOLTs job openings had recorded a revised reading of 6090.00 K.
BoC Governor defended inflation target, stayed neutral on interest rates
The Bank of Canada (BoC) Governor, Stephen Poloz, defended the use of inflation targets and restated that policymakers would be cautious about future interest rate moves despite signs of a pick up in wages. He further stated that fundamental factors of supply and demand, as well as short-term factors are continuing to drive growth in consumer prices.
Japanese foreign exchange reserves slid in October
In Japan, foreign exchange reserves dropped to $1260.90 billion in October. In the previous month, foreign exchange reserves had registered a level of $1266.30 billion.
Chinese foreign exchange reserves climbed in October
In October, foreign exchange reserves recorded a rise to $3109.20 billion in China, lower than market expectations of a rise to a level of $3110.00 billion. In the prior month, foreign exchange reserves had registered a level of $3108.51 billion.
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