Market Report (October 10 – October 14) &
Upcoming Events October’22
October 10, 2022
Ukraine’s Zelensky’s office was destroyed by a missile strike | Launched massive attack on Ukrainian military command, communications and energy systems
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Germany backs joint EU debt for loans to tackle energy crisis
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October 11, 2022
Claimant Count Change (GBP)
The employment rate in the UK from June to August 2022 was 75.5%, which was 0.3 percentage points lower than the previous quarter (March to May 2022), which had a much higher employment rate than. Read More.
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Labour market overview (GBP)
The UK employment rate for June to August 2022 was 75.5%, 0.3 percentage points lower than the previous quarter (March to May 2022), which had a notably higher employment rate than other periods. Read More.
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Bank of England widens gilt purchase operations to include index-linked gilts (GBP)
The Bank continues to monitor developments in financial markets very closely in light of the significant asset repricing of recent weeks. It has also been working with the UK authorities to address risks to the resilience of Liability Driven Investment (LDI) funds arising from volatility in the long-dated government bond (gilt) market.
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October 12, 2022
US Dollar/Yen rises above 145.90 for first time since Aug. 1998
BOE Gov Bailey Speaks (GBP)
In our September monetary policy meeting, the ECB’s Governing Council communicated that, over the next several meetings, we intend to raise our key policy rates towards levels that will ensure the timely return of inflation to our two percent medium-term target. See more..
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GDP monthly estimate (GBP)
Gross domestic product (GDP) is estimated to have fallen by 0.3% in August 2022, after growth of 0.1% in July 2022 (revised down from a growth of 0.2% in our previous publication). See more…
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Japan warns against yen sell-off, eyes intervention
Japanese policymakers kept up their warnings against investors selling off the Japanese currency as the dollar rose to a fresh 24-year high against the yen on Wednesday, raising speculation about a second round of intervention. The US currency rose to 146.35 yen See more…
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Producer Price Indexes (GBP)
The Producer Price Index for final demand increased 0.4 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices declined 0.2 percent in August and 0.4 percent in July. (See table A.) See more…
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October 13, 2022
Harmonized Index of Consumer Prices (EUR)
Federal Statistical Office of Germany
0.1%=economic growth
+10.0%=inflation rate
84.1 mn=population
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FOMC Meeting Minutes (USD)
The manager pro tem turned first to a discussion of financial market developments over the intermeeting period. U.S. financial conditions tightened over the period, largely reflecting an upward revision in investors’ outlook See more
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Minutes of the Federal Open Market Committee September
First, the manager pro tem talked about what had happened on the financial markets since the last meeting. During this time, U.S. financial conditions got worse, which was mostly because investors changed their minds about where the policy rate was going and thought it would go up. See more…
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David Rosenberg predicts US inflation will plummet below 3% next year
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Consumer Price Index
The seasonally adjusted Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4 percent in September after rising 0.1 percent in August, according to the U.S. Bureau of Labor Statistics. Before seasonal adjustment, the all-items index increased 8.2 percent in the previous year. See more…
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October 14, 2022
Consumer Price Index (CNY)
China’s inflation rate is 2.8% year on year, the highest since April 2020. • Expected 2.8%, compared to 2.5% previously. • Food CPI increased by 8.8% year on year, while non-food CPI increased by 1.5% year on year. • The m/m 0.3% (expected 0.4%, prior-0.1%) is more intriguing. See more…
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Retail Sales (USD)
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UMich Inflation Expectations Unexpectedly Jumped In October
UMich headline sentiment was expected to rise very modestly in preliminary October data and did – beating expectations with a 59.8 print against 58.8 expectations. However, this was driven by a jump in current conditions offsetting a drop in future expectations. See more…
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Michigan Consumer Sentiment Index (USD)
Consumer sentiment is essentially unchanged at 1.2 index points above September, in spite of a 23% improvement in current buying conditions for durables owing to an easing in supply constraints. Sentiment is now 9.8 points above the all-time low reached in June, but this improvement remains tentative, as the expectations index declined by 3% from last month. See More…
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Kwasi Kwarteng sacked as chancellor after mini-budget turmoil
Kwasi Kwarteng has been sacked as chancellor three weeks after his mini-budget unleashed chaos in the economy. He was appointed to the role by Liz Truss only 38 days ago, making him the second-shortest serving chancellor after Iain Macleod, who died a month after being handed the job by Edward Heath. See more
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Upcoming Events
Oct 17, 2022
Empire State Manufacturing Index (USD)
Oct 18, 2022
CPI q/q (NZD)
GDP q/y (CNY)
Monetary Policy Meeting Minutes (AUD)
Oct 19, 2022
CPI y/y (GBP)
CPI m/m (CAD)
Oct 20, 2022
Employment Change (AUD)
Philly Fed Manufacturing Index (USD)
Oct 21, 2022
Core Retail Sales m/m (USD)
Prelim UoM Consumer Sentiment (USD)
Consumer Price Index (CNY)
