Further Evidence of the German Economic Resilience
October 26, 2015
The dollar fell overnight by 0.4% against the yen, loonie and kiwi, 0.3%relative to the euro and 0.2% against sterling.
Share prices rose in the Pacific Rim but mostly are down in Europe. The changes have been only moderate.
The 10-year gilt yield is a basis point lower. The 10-year JGB firmed a basis point. Bunds are steady.
Gold and oil edged 0.2% higher.
The IFO Institute’s German business climate index only slipped 0.3 points to 108.2, a 3-month low, in October, much less than expected in light of the VW situation.
Ifo’s services climate index climbed to a record high of 32.4.
In the year to September, producer prices fell 3.6%in Spain and 3.2% in Finland.
Czech business sentiment fell to a 6-month low, but consumer confidence rose to a 7-month high.
Dutch producer confidence slid to a 7-month low.
Mortgage loans in the U.K. declined to a 4-month low of 44,489 in September according to the BBA.
Copyright 2015, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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