CNY depreciation, a structural shift for Asia FX
Aug 13, 2015 16:20 pm UTC| Commentary
The Peoples Bank of China (PBoC) has surprised markets for a third day with a weaker fixing at 6.4010, weaker than yesterdays spot close of 6.4083 and divergent with the overnight G7 spot action that pointed to a weaker...
Mexico monetary policy minutes: The hawks are stretching their wings
Aug 13, 2015 16:05 pm UTC| Commentary Central Banks
Banxico published the minutes of the monetary policy meeting of July 30. At that time, the board decided to keep the reference rate unchanged, but the minutes reveal that one member (out of four) had a preference to hike....
US Q2 GDP tracking estimate rises to 3.3% on June inventories
Aug 13, 2015 16:00 pm UTC| Commentary
Business inventories rose 0.8% m/m in June, well above our (0.4%) and consensus (0.3%) expectations. The stronger-than-expected reading on monthly inventory growth was driven by a 0.9% m/m gain in retail inventories. A...
Broad based retail sales improvements affirm strength of consumer
Aug 13, 2015 15:57 pm UTC| Commentary
Retail sales rose a solid 0.6 percent in July to the highest monthly level ever - $446.5 billion. May and June were also revised upward, affirming the strength of the consumer, and if the Fed is looking for a reason to...
Poland Inflation increases incrementally as deflation persists
Aug 13, 2015 15:54 pm UTC| Commentary
In July, Polands inflation continued to creep upward while remaining deep in deflation at -0.7% y/y, compared with -0.8% in June (Figure 1). Food (-1.7% y/y) and energy (-2.9% y/y) deflation are keeping headline inflation...
US jobless claims steady through early August
Aug 13, 2015 15:22 pm UTC| Commentary
Initial jobless claims rose 5k, to 274k, in the week ending August 8, a touch above our (270k) and consensus expectations (270k) for an unchanged reading. Despite the increase in claims for the latest week, the four-week...
Solid US retail sales brighten the picture for consumption
Aug 13, 2015 15:12 pm UTC| Commentary
Retail sales rose 0.6% m/m in July, in line with the consensus expectations. The increase was broad based, with solid readings on many core categories boosted by a gain in motor vehicle sales and gasoline stations. Motor...