Currency War Series

Barring a negative economic shock, the Fed seems ready for its first hike since 2006 in December

Dec 04, 2015 00:37 am UTC| Commentary

US nonfarm payrolls increased by 271k in October, the largest rise since December 2014, with cumulative upward revisions for August and September of 12k. Civilian household employment gained 320k, while the civilian labor...

Solid momentum in US real personal consumption

Dec 04, 2015 00:17 am UTC| Commentary

According to the BEA s second estimate, Q3 real GDP growth was revised higher to 2.1%QoQ saar from 1.5% in the advance estimate, in line with consensus expectations. The upward revision was primarily attributed to private...

German Industry: Little more than stagnation in 2016

Dec 03, 2015 23:57 pm UTC| Commentary

Industrial output in Germany is likely to expand by around 0.5% in real terms in 2015. For 2016, expect growth close to zero. This means the sustained phase of relatively muted economic dynamics of industrial output seen...

ECB policy decision: Draghi fails to live up to his reputation

Dec 03, 2015 23:38 pm UTC| Commentary Central Banks

President Draghi has a long track record of not only meeting but indeed exceeding market expectations. His whatever it takes approach has been of paramount importance to the marked improvement in confidence and credit...

Indonesia's manufacturing sector has continued to slow

Dec 03, 2015 23:07 pm UTC| Commentary

The economy needs to diversify out of commodities but this is proving more difficult than expected. Growth in manufacturing has yet to improve, despite efforts to revitalize the sector. Production efficiency seems to be...

ECB rate decision: Draghi disappoints with a ‘light menu’, but enough to mark end of easing

Dec 03, 2015 22:28 pm UTC| Commentary Central Banks

Markets priced a 15bp deposit rate cut ahead of the meeting and most analysts also expected an expansion of the monthly purchases, hence the measures were not enough to fulfil expectations. The ECB was expected to...

November composite PMIs improved in Italy and Spain

Dec 03, 2015 21:57 pm UTC| Commentary

November composite PMIs improved in Italy and Spain, mainly on the back of stronger manufacturing confidence, while services confidence held firm. Italian composite PMIs edged up to 54.3 in November (+0.4 point), on robust...