Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Frances economy grew 0.5% in first quarter of 2016, a bit faster than median expectations of 0.3% growth. Better growth in Euro Zone’s second largest economy should come as a respite for European Central Bank (ECB), which unleased large package of measures this year to tackle ailing growth and inflation. Best part has been major employment gains. Unemployment dropped 1.7% in February, biggest in 15 years.
Better data may also provide some relief to incumbent Socialist President Francois Hollande, whose popularity is at lowest for any current President. He is struggling to gather support for his re-election next year and facing major threat from right wing Euro-skeptic political group led by Marine Le Pen.
Despite the better growth outcome, to the disappointment of European Central Bank (ECB), France remained firmly in deflationary territory as of April. On EU harmonized basis, prices declined -0.1% from a year ago and dropped -0.2% on monthly basis. This came despite increase in consumer spending to 2.7% y/y, compared to 1.6% in March.
Data on Euro Zone inflation will be released later today at 9:00 GMT.
