ZuluTrade Blog

Markets traded in narrow ranges , Almost no speakers scheduled for today and main data will be the US retail sales

Market View | Wednesday, June 13, 2012 3:50 AM GMT

Good Morning ,

- Markets traded in narrow ranges. If something risk is a little bit firmer
before the European open. Almost no speakers scheduled for today and main
data will be the US retail sales, ahead of tomorrow's SNB quarterly meeting,
US CPI and Italy bond auctions.

- Stocks: Nikkei +0.72 %, Hang Seng +0.37 %, Shanghai Composite +0.87 %,
Dow Jones +1.31 %, S+P500 +1.17 %

- German Finance Minister Wolfgang Schaeuble said the federal government is
"ahead of the curve" in meeting requirements under the country's
constitutional debt brake that calls for a budget close to balance by 2016.

- A "full-fledged" unification of fiscal policies by the member countries of
the euro zone isn't necessary for establishing a banking union for
the single-currency region, as the banking union wouldn't require huge
amounts of public funds, European Central Bank Vice President Vitor
Constancio said Tuesday.

- Bank of England Deputy Governor Paul Tucker said U.K. officials may need to
do more to ease credit conditions and encourage lending as banks confront the
mounting debt crisis in Europe.

- Rating agency Egan-Jones' President Egan said that Spain would soon ask more
than EUR100bn. Expects Italy to seek bailout in the next 6 months.

- Brazil raised the stakes ahead of next week's Group of 20 summit on Tuesday
by saying it may cap its contribution to a planned funding increase for the
International Monetary Fund unless there are firm promises to give emerging
markets more say at the international table.

- The World Bank on Tuesday warned that fears about the euro zone had reduced
investors' tolerance for risk, and it urged poorer economies to protect
themselves by reducing their debts. It now expects global output to increase
2.5 percent in 2012 and 3 percent in 2013. In January, it forecast that
global output would grow 2.5 percent this year and 3.1 percent next year.

- Japan Data Recap                 Period    Survey     Actual       Prior
* Machine Orders mom              Apr      1.6 %        5.7 %     -2.8 %
* Machine Orders yoy                Apr       4.9 %       6.6 %     -1.1 %

- Australia Data Recap                   Period      Survey      Actual      Prior
* Westpac Consumer Confidence      June            -          95.6        95.3

- Reserve Bank of Australia Governor Glenn Stevens said the strength of the
nation's currency benefits consumers and probably will be sustained as mining
investment intensifies, forcing businesses to change to survive. "It's a test
of adaptability," Stevens told business, union and community leaders today in
the northern city of Brisbane. "While I'm very conscious that a number of
sectors are really struggling with the exchange rate where it is, we
shouldn't wish too quickly for a low exchange rate."

- Moody's Investors Service on Wednesday said the outlook for Australia's Aaa
rating remained stable thanks to the strength of its economy, institutions
and government finances.

- New Zealand Data Recap     Period    Survey    Actual    Prior     Revised
* Retail Sales qoq                  Q1 F          -      -0.6 %    -1.5 %    1.6 %

- Philipp Hildebrand is joining BlackRock Inc. as vice chairman. Hildebrand
will start in October and be based in London. He'll oversee the New
York-based firm's relationships with institutional clients outside the U.S.
and report directly to Laurence D. Fink, the chairman and chief executive
officer.

- 1430 US PPI May
- 1430 US Retail Sales May
- 1600 US Business Inventories Apr
- 0730 France CPI May
- 0800 Germany CPI May F
- 0900 Spain CPI May
- 1000 Italy CPI May F
- 1100 Eurozone Industrial Production Apr
- 1745 Italy PM Monti, German Fin Min Schaeuble
- 0915 Switzerland PPI May
- 2300 RBNZ Official Cash Rate - no change expected

 (CET)

Have a good day !

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