Russia's recession deepens, gradual improvement likely
Aug 11, 2015 17:36 pm UTC| Commentary
Russias recession deepened in Q2, in line with the view and the consensus. Growth decelerated to -4.6% y/y from -2.2% in Q1, implying a q/q decline of -2.5% in Q2, almost double the -1.3% q/q decline in Q1 (although this...
China rattles markets with currency devaluation
Aug 11, 2015 16:17 pm UTC| Commentary
In another desperate move to boost a flagging economy, China devalued its currency by 2 percent overnight. The Canadian dollar nose-dived on the news following what had been a week-long recovery. The US dollar strengthened...
US retail sales expected to begin the summer on a high note
Aug 11, 2015 16:06 pm UTC| Commentary
Providing an early glimpse at summer-quarter consumer spending activity, the Census Bureaus Advance Report on Retail and Food Services Sales in July will be the marquee statistical event of the week. Increased spending...
US Q2 GDP tracking 2.9% after June wholesale inventories
Aug 11, 2015 15:57 pm UTC| Commentary
Wholesale inventories grew 0.9% m/m in June, coming in above our (0.4%) and consensus expectations (0.4%). Part of the boost to June wholesale inventory growth was due to a downward revision to May data. Wholesale...
Mexico IP: Stabilizing on better domestic components
Aug 11, 2015 15:22 pm UTC| Commentary
Mexicos industrial production increased 0.2% m/m sa in June as a result of a strong recovery in mining (1.1%) and a modest increase in construction (0.4%), partially offset by very soft growth in manufacturing (0.1%). In...
Canadian Housing Starts (July)
Aug 11, 2015 15:12 pm UTC| Commentary
Canadian housing starts slipped to 193,000 annualized units in July, essentially in-line with expectations and down from the prior months 202,300 print (revised a shade lower). Year-to-date, housing starts have averaged a...
Aug 11, 2015 12:27 pm UTC| Commentary
Today morning, the PBoC took a major decision to improve the pricing mechanism of the daily fixing rate. According to Societe Generale, there are two reasons behind the PBoCs todays announcement: 1) The nine-month...