Unicredit: Technical setback for German new orders leaves upward trend intact
Quotes from Unicredit German new orders in the manufacturing sector declined 3.9% mom in January after plus 4.4% in the previous month. We think that there is no reason to worry. The latest drop does not have anything to…
German new orders in the manufacturing sector declined 3.9% mom in January after plus 4.4% in the previous month. We think that there is no reason to worry.
The latest drop does not have anything to do with a sudden deterioration in fundamentals. Instead, it is some kind of a technical breather after unusually strong rises in the previous few months.
New orders excluding big-ticket items rallied in the fourth quarter 2014 (+3.6% qoq or +15% qoq annualized!).
Tomorrow morning, the industrial production reading for January will be released.
We expect a significant rise of 0.8% mom in line with surging backlog orders.
The odds are high that GDP growth in the first quarter will remain strong. We expect a plus of 0.4% qoq with some upside risks.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
