FX News

Britain Beat a Consensus of Minus 0.1, in the Minute London Opened

UK monthly GDP for August printed at plus 0.1 per cent at 06:00 UTC.

One vendor's calendar carried a consensus of minus 0.1; Deutsche Bank, on 8 October over two named economists, had it flat at zero. The print cleared the entire published expectation range we could read - two tenths above the lower, one above the higher. It also landed in the minute the London session opens, so the release and the open are not separable in anything sterling did afterwards. Three things nobody is saying: the issuer announced a month ago that this is the release reopening the full time series to revision, so the 0.4 prior in your calendar row may not have survived the print it is being scored against; the issuer states no release time and no timezone on its bulletins, so the 06:00 is a vendor's field; and at a quarter past six the issuer's own standing link was still serving July. Industrial production at plus 0.8 and manufacturing at plus 1.2 had no published consensus at all, which means neither can be a beat.

Japan Beat the 7.4% Consensus With a 7.6% That Was Also a Slowdown — and Copper, Not Oil, Did Most of It

The Bank of Japan's own release has August corporate goods prices at +7.6% year on year against a 7.4% consensus — but July was revised up from +7.2% to +7.7%, so the beat is also a deceleration, and the month itself printed −0.2%. The largest contributor was non-ferrous metals at +43.3%, not petroleum. Plus Britain doubling its GDP consensus at 06:00 UTC for four pips, and a US CPI consensus three vendors cannot agree on.