Recap 3-05-13

~ globalmacrotrading

Commentary:

None

Notable:

  • US ISM Non-Mfg improved to 56 in Feb vs 55 exp and 55.2 prev
  • Italy Services PMI dropped to 43.6 vs 43.5 exp and 43.9 prev
  • UK Services PMI improved to 51.8 vs 51 exp and 51.5 prev
  • French and German Services PMI were both revised higher. The Composite Print improved to 47.9 vs 47.3 prev
  • EU Retail Sales rose 1.2% MoM in Jan vs 0.3% exp. Sales are now down just -1.3% YoY vs -2.9% exp and -3.4% prev
  • China Services PMI dropped to 52.1 vs 54 prev.

Upcoming Data:

  • Wed: EU 4Q GDP, US ADP Employment, BoC, Oil Inventories, Australia Trade Balance
  • Thu: BoJ, French Employment, BoE, ECB, US Unit Labor Costs, Jobless Claims, Fed publishes stress test results for US banks
  • Fri: Japan Eco Watchers Survey, China Trade Balance, Canada Housing Starts, Employment, US Employment, Banxico
  • Weekend: China Data
  • Mon: German Trade Balance, RICS House Price Balance, Australia Business Confidence
  • Tue: US Retail Sales, Oil Inventories, Australia Employment

Published by globalmacrotrading

I am a G20 Global Macro Portfolio Manager in NYC. My background includes stints at a major investment bank, a commodities market maker, and one of the world's largest global macro hedge funds.