Euro area PMIs to soften in August
Aug 17, 2015 20:28 pm UTC| Commentary
Euro area manufacturing PMI should soften from 52.4 to 51.6 in August, with only France eking out a small gain in its manufacturing PMI compared to its low reading in July. The services PMI should increase from 54.0 to...
Positive U.S. economic news prompted rebound of Dow, S&P 500, Nasdaq
Aug 17, 2015 16:40 pm UTC| Commentary
U.S. stocks traded sharply down midweek as China devalued its currency, a downdraft intensified by speculation about the timing of the first Fed rate hike in almost ten years. Still, positive U.S. economic news prompted a...
Reminbi devaluation: How negative is it?
Aug 17, 2015 16:14 pm UTC| Commentary
The Reminbiwill end up depreciating a little more than the forward curve is currently anticipating (the 12-month forward rate is at Reminbi6.50, or c.3% downside. Because, there has been a strong correlation between...
Euro area inflation is lower, but the ECB should not change its view
Aug 17, 2015 15:12 pm UTC| Commentary Central Banks
Following the latest decline in the oil prices, the euro area inflation forecast has been down to 0.1% from 0.2% in 2015 and to 1.2% from 1.4% in 2016. Updated projection does not include a new period of deflation, but it...
Aug 17, 2015 14:41 pm UTC| Commentary
Oil is on top of mind again as prices continue their straight line lower since the beginning of July. Crude has been at the core of USD/CADs massive rally over the past 11 months and the big adjustments taking place in the...
Empire State manufacturing index plunges in August
Aug 17, 2015 14:20 pm UTC| Commentary
The Empire State manufacturing index plunged to -14.9 in August, the weakest reading for the index since August 2009. The large decline came in well below expectations (forecast: 5.0, consensus: 4.5) and represents a sharp...
Empire State manufacturing index plunges in August
Aug 17, 2015 14:19 pm UTC| Commentary
The Empire State manufacturing index plunged to -14.9 in August, the weakest reading for the index since August 2009. The large decline came in well below expectations (forecast: 5.0, consensus: 4.5) and represents a sharp...