AUD outlook

Nov 03, 2015 05:18 am UTC| Commentary

Todays highlight is the RBA meeting. It stood pat, as expected. AUD/USD is likely to stand in a 0.7070-0.7200 range, with the RBA outcome today the main determinant of near term direction. Eventual resumption of the...

Flexibility under QE programme has many dimensions

Nov 03, 2015 05:13 am UTC| Commentary Central Banks

Draghi and a number of other ECB members have repeatedly argued for flexibility in the QE programme in terms of its size, composition and duration. Considering the current design of the QE programme, monetary policy easing...

ECB’s menu of instruments can be used to surprise markets

Nov 03, 2015 05:10 am UTC| Commentary Central Banks

The stance at the ECB meeting in October was surprisingly dovish, particularly as Draghi opened the door for further deposit rate cuts. Previously the message had been that the ECB had reached the lower bound on the...

U.S. auto sales expected to remain at decade high in October

Nov 03, 2015 05:09 am UTC| Commentary

In the United States, motor vehicle purchases probably began the final quarter of 2015 on a high note. Despite limited 2015 model-year product and reduced sales incentives, passenger car and light truck purchases likely...

German manufacturing activity may recover in Q4 15

Nov 03, 2015 04:51 am UTC| Commentary

German PMIs were notably revised up from the flash to 52.1, still inching down in October; while French PMIs held firm at 50.6, vs. 50.7 in the flash reading. Stronger output and new orders drove the bulk of the German...

Euro area likely to post moderate growth rate by end of 2015

Nov 03, 2015 04:35 am UTC| Commentary

Developments were mixed in the euro area, with Italian PMIs beating expectations, while Spanish PMIs lost further ground. In Italy, manufacturing PMIs rebounded to 54.1 (+1.4 points) in October, hitting a three-month high....

U.S. manufacturing activity remains on brink of contraction in October

Nov 03, 2015 04:27 am UTC| Commentary

In the United States, the Institute for Supply Management (ISM) manufacturing index was little changed in October, slipping by a marginal 0.1 point to 50.1. The reading was largely in line with consensus expectations,...