China currency reform or competitive devaluation?
Aug 18, 2015 09:11 am UTC| Commentary
There are two schools of thought on why China chose to act now. One is that the country is merely moving towards a market-based exchange rate mechanism, given its hopes for SDR inclusion, RMB internationalization and...
Euro area PMIs to soften in August
Aug 18, 2015 08:12 am UTC| Commentary
The Euroarea manufacturing PMI data for August is scheduled to release on 21st August. The data is expected to soften from 52.4 to 51.6 in August, with only France eking out a small gain in its manufacturing PMI...
PBoC’s intervention reflects expectation of a weaker Chinese Yuan
Aug 18, 2015 07:36 am UTC| Commentary Central Banks
PBoC set USD-CNY fixing rate at 6.3966 this morning, compared with previous clos-ing of 6.3949. In the meantime, Chinas central bank injected RMB120bn cash into the market via 7-day reverse repo, compared with todays...
Turkish Lira to remain under pressure
Aug 18, 2015 07:34 am UTC| Commentary
CBRT are likely to keep rates on hold at 7.5% (repurchase rate) and 10.75% (Over-night lending rate) at todays MPC meeting. Governor Basci already signalled that while the central bank will seek to amend its overall...
No rate hike pressure in the UK
Aug 18, 2015 07:21 am UTC| Commentary
Recent, more dovish statements by the Bank of England have dampened rate-hike expectations in the UK. Sterling suffered, of course. Today, the ONS will release several inflation series for July. None of them is likely...
Mexico retail sales growing at an impressive pace
Aug 18, 2015 07:20 am UTC| Commentary
Despite Mexicos growth weakness in H1 and the visible effect of the slowdown in the labour market, retail sales on average have continued to trend up this year, in part due to the low base effect in H1 2014 and partly due...
Mexico's GDP growth likely slowed in Q2
Aug 18, 2015 07:18 am UTC| Commentary
Mexicos industrial production and economic activity releases suggest that growth likely slowed to 2.0% yoy in Q2 even though activity growth improved to 2.2% yoy in June. While the supply side proxy puts Q2 growth at 2.1%...