Tuesday Highlights

August 19, 2014

The dollar, equities, and sovereign debt yields rose.

Perceived geopolitical risks lessened.

New Zealand producer prices recorded their greatest quarter-on-quarter drop since 3Q12, and government officials revised growth and inflation forecasts slightly downward for New Zealand.

British CPI and PPI inflation decelerated more than expected in July.

Euroland recorded current account surpluses in July of EUR 20.8 billion unadjusted and EUR 13.1 billion seasonally adjusted.

The preliminary 37.7% on-year estimated rise in Japanese machine tool orders was confirmed.  Japanese department store sales posted a smaller 2.6% on-year drop in July.

U.S. CPI inflation slid 0.1 percentage point to 2.0% in July.  Core held steady at 1.9%.

U.S. housing starts and building permits were significantly greater in July than June, each breaking decisively above an annualized pace of 1 million.

Minutes from the Reserve Bank of Australia did not include a protest that the Aussie dollar is overpriced.

Copyright 2014, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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