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European Economic News Preview: German Final Inflation Data Due
(RTTNews) - Final inflation from Germany and Spain are due on Wednesday, headlining a light day for the European economic news.
At 2.00 am ET, Destatis is scheduled to issue Germany's final consumer prices for April. Consumer price inflation is seen easing to 2.1 percent from 2.2 percent in March.
In the meantime, final consumer prices from Sweden and industrial production from Romania are due.
At 2.30 am ET, the Hungarian Central Statistical Office publishes final industrial production data.
At 3.00 am ET, Spain's INE publishes final consumer and harmonized prices for April. The flash estimate showed that consumer price inflation softened to 2.2 percent from 2.3 percent in March.
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U.S. Housing Starts Pull Back Sharply In May
The Commerce Department released a report on Wednesday showing a steep drop by new residential construction in the U.S. in the month of May. The report said housing starts plunged by 9.8 percent to an annual rate of 1.256 million in May after jumping by 2.7 percent to a revised rate of 1.392 million in April.
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U.S. Jobless Claims Pull Back Off Eight-Month High
First-time claims for U.S. unemployment benefits edged modestly lower in the week ended June 14th, according to a report released by the Labor Department on Wednesday. The report said initial jobless claims dipped to 245,000, a decrease of 5,000 from the previous week's revised level of 250,000.
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UK Inflation Slows Slightly In May
UK consumer price inflation softened in May as the slowdown in transportation costs was largely offset by the rise in food prices and reinforced expectations that the Bank of England will maintain the interest rate steady this week. The consumer price index registered an annual increase of 3.4 percent, slightly slower than the 3.5 percent rise seen in April, the Office for National Statistics said
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Bank Indonesia Holds Interest Rate Steady At 5.5% As Expected; Hints At Reduction
Indonesia's central bank left its benchmark interest rate unchanged on Wednesday after a quarter-point reduction in May and hinted at further reduction to support economic growth. The Bank Indonesia Board, led by Governor Perry Warjiyo, maintained the BI rate at 5.50 percent. The bank had reduced the rates twice this year, in May and January.
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U.S. Housing Starts Plunge Much More Than Expected In May
The Commerce Department released a report on Wednesday showing a steep drop by new residential construction in the U.S. in the month of May.
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CPI Softening Boosts FTSE 100
Better-than-expected CPI readings from the U.K. bolstered sentiment, helping FTSE 100 outperform its peers.
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U.S. Weekly Jobless Claims Edge Down In Line With Estimates
First-time claims for U.S. unemployment benefits edged modestly lower in the week ended June 14th, according to a report released by the Labor Department on Wednesday.
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CAC 40 Retreats After Short-lived Rebound
Despite attempting a rebound, the CAC 40 index that tracks the 40 largest French stocks based on the Euronext Paris has shed around half a percent in Wednesday's trading.
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