U.S. Trading Newsletter

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US BUILDING PERMITS

Friday Notes - Fear of a credit crunch intensifies by HVB Group

It's hard for the housing slump to level off with inventories of unsold homes staying at cyclically high levels (about 8−months supply at current sales volumes.) That overhang deters new building projects, which likely will be reflected in continued weak permits data. However, July starts are likely to pick up slightly, a reflection of the better average permits figures for the May−June.

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EMU CONSUMER PRICE INDEX

Euro Zone July CPI +1.8% On Year (Dow Jones)

Euro zone consumer price inflation fell 0.2% on the month and rose 1.8% on the year in July. This was in line with the figure forecast in a Dow Jones Newswire survey of economists and unrevised from an estimate announced July 31.

• Read the Inflation report at Eurostat
• Euro−Zone July CPI Table Of Data (Dow Jones)
• DATA SNAP: Euro−Zone July Inflation Slows To 1.8% On Year −2 (Dow Jones)
• EU Jul Consumer Price Index decreases 0.2% on the month; 1.8% up on the year (FXstreet.com)

UK RETAIL SALES

UK retail sales boost in July (FXstreet.com)

Retail sales have soared in the United Kingdom in July with a 0.7% increase, instead of the 0.1% increase expected by the analysts, according to the latest report by National Statistics.

• Read the Retail Sales report at National Statistics
• UK July retail sales jump by 0.7 pct from June, helped by heavy discounting (Thomson Financial News)
• DATA SNAP: UK July Retail Sales Surge On Discounting −2− (Dow Jones)
• DATA SNAP: UK July Retail Sales Surge On Discounting (Dow Jones)

Germany CONSUMER PRICE INDEX

German CPI picks up in July on holiday prices (FXstreet.com)

Inflation at consumer level picked up in Germany in July due to an increase on holiday accommodation prices, according to data by the Federal Statistics Office.

• Read the Consumer Price Index report at Destatis
• German July final CPI up 0.4 pct vs June, up 1.9 pct yr−on−yr (Thomson Financial News)
• DATA SNAP: German Final July CPI Confirmed At +0.4% MM (Dow Jones)

US NET LONG−TERM TIC FLOWS

U.S. Net Long Term TIC Flows decrease in June (FXstreet.com)

Net buying of long−term securities has decreased to 120.9 billion in June from 126.0 billion on the previous month according to the monthly Treasury International Capital report, known as TIC.

• Read the Treasury International Capital (TIC) report at U.S. Department of the Treasury
• US June total net foreign capital inflow 58.8 bln usd (Thomson Financial News)
• US Jun Net Long−term TIC Flows down to $120.9B vs $126.1B in May (FXstreet.com)

US CONSUMER PRICE INDEX

U.S.CPI moderates in July due to lower energy prices (FXstreet.com)

Consumer prices have moderated their growing pace in the United States in July due to a decrease on energy prices, although prices for clothing and medical care have posted notorious gains, according to the latest report by the Labor Department.

• Read the Consumer Price Index at Bureau of Labor Statistics
• Inflation slows in July, output gains (Thomson Financial News)
• US Consumer Price Index−STATS−Historical (Dow Jones)
• US July CPI up 0.1 pct, core CPI up 0.2 pct (Thomson Financial News)