Germany’s IFO think tank forecasts economy to shrink by 0.3% in Q4
- Sees growth in Q1 2013 of 0.2%
- Forecasts German economic growth of 0.7% next year
- German domestic demand and exports to countries outside of eurozone boosting growth in 2013
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Technical Analysis
US 10-year yields rise above the February high
USD/JPY tests the mid-February high and then backs off
Canadian dollar falls to the lowest since April 8 on soft retail sales and inflation. What's next
GBP/USD continues sells off with a dovish Carney
Stocks end the session lower. S&P back below 100 day MA.
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Central Banks
Fed's Kashkari: I'm more concerned about the flattening of the yield curve
Fed's Brainard: Outlook is consistent with gradual hikes
Fed's Williams says he sees continued rate increases
Fed's Evans: Yield curve less of a concern than a couple months ago
ECB's Draghi: Confidence in the inflation outlook has increased