Ezone GDP
Ton of Data Depresses Sovereign Debt Yields
August 1, 2017
Released U.S. economic indicators today were lower than forecast. The Institute of Supply Management’s manufacturing purchasing managers index dropped 1.5 points to a 2-month low of 56.3, which still implies pretty solid activity. Construction spending sank 1.3% in June. The main disappointment was delivered by personal income and spending. Income stagnated instead of rising about […] More
A Valentine’s Day Full of Data and Other Developments
February 14, 2017
Market Movement: The dollar is higher against sterling but lower against the euro, Swissie, yen, and commodity-sensitive currencies. Oil and gold climbed 1.3% and 0.7% overnight. 10-year German bund and Japanese JGB yields rose a basis point, while the 10-year Treasury and British gilt slid a basis point. Japan’s Nikkei slumped 1.1%. Central Bank News: […] More
Plenty of Disappointment to Go Around
July 29, 2016
Second quarter U.S. GDP growth of 1.2% was only about half as much as forecast, due mainly to a big drag from inventories. Canadian GDP sank 0.6% in May as industrial production there plunged 3.7% on month. The Bank of Japan produced less stimulus than hoped, limiting its action to an increase of EFT buying […] More
Significant Day for Data Releases
December 4, 2013
The dollar climbed against commodity-sensitive currencies, gaining 1.2% against the Aussie dollar, 0.5% versus the kiwi and 0.1% relative to the loonie. Opec oil ministers meeting in Vienna hope to leave production quotas unchanged in an effort to keep price stable and near $100 per barrel. WTI oil advanced 1.3% overnight to $97.25 per barrel. […] More
A Mixed Bag of GDP Figures and Leaked Yellen Testimony
November 14, 2013
Japanese GDP expanded 1.9% at an annualized rate between 2Q and 3Q, down from 3.8% in the second quarter but a shade stronger than expected. The GDP price deflator was 0.3% lower than a year earlier. On-year GDP growth more than doubled to 2.7%. Among components of demand, consumption rose 0.4%, nonresidential investment climbed 0.7%, […] More
Further Market Anxiety from Syria and as FOMC Meeting Nears
September 4, 2013
Several stock markets posted large overnight losses. In the Pacific Rim, equites fell 2.2% in Indonesia, 1.0% in the Philippines, 1.3% in Singapore and 0.7% in Australia. Hong Kong, China and Taiwan dipped 0.3%, 0.2% and 0.1%, while a 1.8% advance of India’s Sensex and a 0.5% rise in Japan’s Nikkei proved exceptions to the […] More
Positive GDP Growth Reported in the Euro Area
August 14, 2013
Markets barely reacted to the news that Euroland as a whole returned to positive growth last quarter. The 0.3% non-annualized increase from 1Q exceeded analyst expectations and trimmed the four-quarter rate of GDP decline to 0.7% from 1.1% in 1Q. Italy, Spain, Cyprus and the Netherlands were among the countries that saw GDP contract further, […] More
Stocks in Asia and Europe Follow U.S. Rally
March 6, 2013
The Dow Jones Industrials closed at an all-time high on Tuesday of 14,254. In the Pacific Rim, equities closed up 2.1% in Japan, 1.8% in the Philippines, 1.5% in Indonesia, 1.0% in Hong Kong and China, 0.8% in Australia, and 0.7% in New Zealand. The German Dax leads European markets with a gain so far […] More
Weaker-than-Projected Ezone GDP Depresses Euro and European Equities
February 14, 2013
The dollar has risen 0.9% against the euro and 0.6% versus the Swiss franc. The U.S. currency otherwise is up 0.2% relative to sterling and 0.1% against the loonie and Aussie dollar but down 0.3% against the yen and 0.5% versus the kiwi. The yuan is steady, showing no reaction to confirmation remarks by Jacob […] More
