World dairy prices fell 3.1% in last night's Global Dairy Trade auction

Oct 20, 2015 21:24 pm UTC| Commentary

World dairy prices fell 3.1% in last nights Global Dairy Trade auction, after making large gains in the past four auctions. The average winning price was $2,735/tonne.While the latest auction result was weaker than...

Japan achieving a sustainable trade surplus will take time

Oct 20, 2015 20:58 pm UTC| Commentary

Japans trade deficit is likely to come in at 200bn in September 2015, which marks an improvement on the 962bn of September 2014. On a seasonally-adjusted basis, the trade deficit should reach 302bn in September, slightly...

Russia's import substitution is supporting local production

Oct 20, 2015 20:53 pm UTC| Commentary

Manufacturing production data shows that certain sectors have started benefiting from import substitutions as western sanctions and Russias counter measures have distorted the market. Foods production expanded 1.4% y/y and...

Russian consumer turmoil continues

Oct 20, 2015 20:18 pm UTC| Commentary

Russian consumers have suffered the most during the current recession. Purchase power fell to its weakest in years as 2015 average inflation is at 15.5% y/y, pushed up by the devalued rouble and limited supply due to...

US leading economic index forecast revised down after September building permits

Oct 20, 2015 15:23 pm UTC| Commentary

The Census Bureau reported earlier this morning that total building permits fell 5.0% m/m in September to 1.103mn (previous: 1.161mn), down more sharply than what had been expected. The drop was driven by multifamily...

ECB Preview - The waiting game

Oct 20, 2015 15:13 pm UTC| Commentary

There has been a consistent tone in most recent comments by ECB Governing Council members. These comments have not strayed far from the stance communicated in the September press conference, the ensuing Monetary Policy...

Russia’s economic contraction is likely to have bottomed in Q3 15

Oct 20, 2015 14:58 pm UTC| Commentary Economy

Russias September output and demand data signalled that economic contraction reached the bottom in Q3 15 as previously expected. The dip in fixed investments and industrial production was less (-5.6% y/y and -3.7% y/y,...