- Wed, 15 Feb 2017 11:19:21 GMT
Euro or Pound? All roads lead to Paris
With 2016 marking the year of slim chance turned reality, it has become part of analysts' agenda to speculate on whether tail risks could pose a threat to 2017 events as well, one of them being the French Presidential Election. The pre-election race has been up for a rocky start with scandals worthy of the US Presidential cycle surrounding all
- Wed, 15 Feb 2017 10:19:14 GMT
UK inflation rises 1.8% in January but below forecasts
"While the further upturn in price pressures will fuel speculation that interest rates may start to rise later in 2017, the most likely scenario remains one of policy staying on hold over the next two years as the economy navigates through Brexit."- Chris Williamson, IHS Markit [ANNOUNCE]British consumer prices increased last month due to higher oil costs and the weakening Pound,
- Wed, 15 Feb 2017 10:18:44 GMT
US producer prices post largest gain since 2014 last month
"While the trend in inflation remains upward, it is not quickening as fast as today's headline suggests. Inflation is not an immediate issue for the Fed". - Sarah House, Wells Fargo Securities [ANNOUNCE]US producer prices posted the largest increase in more than four years last month amid higher energy-related production costs, official figures revealed on Tuesday.[/ANNOUNCE] The US Labor Department reported
- Tue, 14 Feb 2017 09:03:03 GMT
Japanese economy grows for fourth straight quarter in Q4 2016 but misses forecasts
"The fact that the economy grew a fourth straight quarter on the back of exports should be considered a passing mark for policymakers".- Hidenobu Tokuda, Mizuho Research Institute [ANNOUNCE]Japan's economy expanded for the fourth consecutive quarter in the three-month period to December 2016 amid higher exports supported by the weak Yen.[/ANNOUNCE] Figures released on Monday showed Japan's economy grew at an
- Tue, 14 Feb 2017 09:02:54 GMT
European Commission revises its 2017 and 2018 economic forecasts
"With inflation picking up from low levels, we cannot expect current monetary stimulus to last forever". - Valdis Dombrovskis, European Commission [ANNOUNCE]On Monday, the European Commission released its latest set of economic forecasts, suggesting that the Brexit vote and elections in Germany and France would have a significant impact on the Euro zone economy.[/ANNOUNCE] The latest estimates suggest the region's economy is
- Mon, 13 Feb 2017 10:28:04 GMT
Canadian unemployment rate falls to 6.8% in January on strong job growth
"We've had a very good run here from employment and I think it's sending a pretty convincing signal that the economy is starting to improve". - Doug Porter, BMO Capital Markets [ANNOUNCE]Canadian job growth accelerated markedly last month, surprising markets and suggesting that the economy started the 2017 year strong.[/ANNOUNCE] Statistics Canada reported on Friday the economy added 48,300 jobs in
- Mon, 13 Feb 2017 09:59:05 GMT
British manufacturing sector ignores Brexit in December
"While industrial production and manufacturing output has proved resilient into the end of 2016, its sustainability over 2017 is in question". - Fabrice Montagné and Andrzej Szczepaniak, Barclays [ANNOUNCE]British manufacturing production rose at a stronger than expected pace in December, despite the country's decision to leave the European Union.[/ANNOUNCE] Official data released by the Office for National Statistics on Friday showed
- Fri, 10 Feb 2017 09:43:03 GMT
Reserve Bank of Australia does not see economic slowdown
"Overall, the forecasts for year-ended GDP growth are lower over the next three quarters than those presented in the November statement, almost entirely due to the base effect of the weak September quarter". - Reserve Bank of Australia [ANNOUNCE]Australia's Central bank stated on Friday that the economy remained on a relatively strong footing during the second half of 2016.[/ANNOUNCE] In its Monetary
- Fri, 10 Feb 2017 09:32:05 GMT
US jobless claims drop unexpectedly last week; US wholesale inventories climb 1% in December
"There is no sign of a pickup in layoff activity. We continue to view the signal of extremely subdued layoffs from the jobless claims data as evidence of companies attempting to retain their workers in a tight labor market". - John Ryding, RDQ Economic [ANNOUNCE]The number of Americans filing for first-time unemployment benefits declined to an almost 43-year low, official
- Thu, 09 Feb 2017 10:00:05 GMT
RBNZ leaves interest rates on hold on Wednesday
"Our economists continue to expect a 25bp cut this year, but the curve remains heavily skewed toward a hike". - Adam Cole, RBC Capital Markets [ANNOUNCE]New Zealand's Central bank left its benchmark interest rate unchanged on Wednesday and said it would be reasonable to keep the rate at record lows for an attended period of time.[/ANNOUNCE] The statement caught analysts by surprise,
- Thu, 09 Feb 2017 09:49:06 GMT
US crude stocks grow more than expected last week
"The crude oil inventory build was really terrible for the market but the market does not seem to care because the products inventories were better than expected and are dragging crude oil prices up with it". - Andrew Lipow, Lipow Oil Associates [ANNOUNCE]US crude oil inventories jumped more than markets anticipated amid a sharp increase in imports and rise in Cushing
- Wed, 08 Feb 2017 10:44:03 GMT
GDT Price Index surges 1.3% at Fonterra's auction on Tuesday
"Milk powder prices exceeded market expectations". - Susan Kilsby, AgriHQ [ANNOUNCE]Dairy product prices in New Zealand rose markedly at Fonterra's auction on Tuesday amid strength of whole and skim milk powder sales, official figures revealed.[/ANNOUNCE] The GDT Price Index advanced 1.3% to $3,537, up from $3,517 registered at the prior auction that happened three weeks ago. About 21,273 tonnes of dairy products were
- Wed, 08 Feb 2017 10:30:04 GMT
Canada posts trade surplus for second straight month in December; Ivey PMI drops unexpectedly in January
"Canada has the cloud of protectionism hanging over it". - Leslie Preston, TD Bank [ANNOUNCE]Canada's trade balance registered a surplus for the second consecutive month in December, slightly missing analysts' forecasts, official figures revealed on Wednesday.[/ANNOUNCE] Statistics Canada reported the country's merchandise trade surplus narrowed to C$0.9 billion in the final month of 2017, following the preceding month's upwardly revised surplus of
- Wed, 08 Feb 2017 09:54:04 GMT
US trade balance improves in December; December JOLTS report slightly disappoints markets
"We may be now seeing a return of the ‘twin deficits' that we saw in the 1980s and the 2000s". - Jeffrey Frankel, Harvard University [ANNOUNCE]The US trade deficit dropped more than expected in December after two straight months of increases amid higher exports.[/ANNOUNCE] The Commerce Department reported the country's trade gap narrowed 3.2% to $44.3 billion in the reported month, following
- Wed, 08 Feb 2017 09:30:30 GMT
British house prices post surprise fall last month
"U.K. house prices continue to be supported by an ongoing shortage of property for sale, low levels of house building, and exceptionally low interest rates". - Martin Ellis, Halifax [ANNOUNCE]House prices in the United Kingdom dropped unexpectedly last month, official figures revealed on Tuesday.[/ANNOUNCE] Halifax reported its House Price Index, the longest running monthly house price measure, plunged 0.6% in January,
- Tue, 07 Feb 2017 09:17:34 GMT
Reserve Bank of Australia leaves interest rates unchanged
"This is very clearly a message from a central bank that does not want to cut interest rates any further". - Paul Bloxham, HSBC[ANNOUNCE]As markets expected, Australia's Central bank left its key interest rates unchanged at a record low of 1.5% at the end of its monetary policy meeting on Tuesday and signaled it would keep the rates on hold
- Tue, 07 Feb 2017 09:17:25 GMT
Inflation expectations improve markedly in Q1 of 2017
"With this in mind we expect that the RBNZ will keep the OCR unchanged this Thursday when it releases its February Monetary Policy Statement. We also expect that they will retain the neutral stance of its November statement". - Westpac [ANNOUNCE]New Zealand's inflation expectations advanced markedly in the first quarter of 2017, the latest quarterly survey revealed on Tuesday.[/ANNOUNCE] In a report,
- Tue, 07 Feb 2017 09:17:14 GMT
German factory orders rebound sharply in December
"All recent data point to a very strong start for 2017 in Germany and in the euro area after a very good fourth quarter". - Julian Trahorsch, Landesbank Baden-Wuerttemberg [ANNOUNCE]Germany factory orders rose markedly in the last month of 2016, driven by a sharp increase in demand for investment goods, official figures revealed on Monday.[/ANNOUNCE] According to the Economy Ministry, German industrial
- Mon, 06 Feb 2017 09:26:54 GMT
Australian retail sales drop unexpectedly in December
"The rise in real sales in the fourth quarter was in line with expectations, but the outright fall in nominal sales in December reveals a worrying lack of momentum heading in to 2017". - Kate Hickie, Capital Economics [ANNOUNCE]Australian retail sales posted a surprise fall in the last month of 2016, official figures revealed this morning.[/ANNOUNCE] The Australian Bureau of Statistics reported
- Mon, 06 Feb 2017 09:26:37 GMT
US companies create 227,000 new jobs last month
"The lack of wage growth suggests further room for tightening in the labor market. So long as that remains true, and with inflation still below target, the Fed will be content to hold off on further interest rate hikes". - Anthony Nieves, ISM[ANNOUNCE]US companies created more jobs than expected last month, following the disappointing December figure.[/ANNOUNCE] The Bureau of Labor
- Mon, 06 Feb 2017 09:26:26 GMT
British services sector activity falls for first time in four months
"The stronger than expected growth since the Brexit vote has been entirely due to much stronger than expected household consumption growth. It won't last". - Daniel Vernazza, UniCredit[ANNOUNCE]The services sector activity in Britain slowed unexpectedly during the first month of 2017, a private survey revealed on Friday.[/ANNOUNCE] Markit/CIPS reported its Purchasing Managers' Index for the UK services sector fell to 54.5
- Fri, 03 Feb 2017 08:51:07 GMT
Initial jobless claims fall more than expected last week
"...with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace, labor market conditions will strengthen somewhat further and inflation will rise to 2% over the medium term". - Federal Reserve[ANNOUNCE]The number of Americans filing for unemployment benefits dropped more than expected last week, official figures revealed on Thursday.[/ANNOUNCE] The Labor Department reported initial jobless
- Fri, 03 Feb 2017 08:50:58 GMT
Bank of England revises up its forecasts but leaves interest rates on hold; Construction falls in January
"If we do see a situation where there is faster growth and wages than we anticipated or spending doesn't decelerate later in the year, one can anticipate there would be an adjustment of interest rates". -Mark Carney, BoE[ANNOUNCE]On Thursday, the Bank of England's Monetary Policy Committee voted to hold interest rates at historic lows of 0.25% and let their 60 billion-pound
- Thu, 02 Feb 2017 09:17:04 GMT
Australian building approvals decline less than expected; Trade surplus hits A$3.51B in December
"A record trade surplus shows that the surge in commodity prices is boosting nominal GDP. The most recent increases in the volume of exports implies that real GDP in the fourth quarter of last year at least may prove to be a bit stronger than we had thought". -Paul Dales, Capital Economics[ANNOUNCE]The number of Australian building approvals dropped in December after