US crude oil stocks rose significantly

Sep 03, 2015 08:57 am UTC| Commentary

Oil prices closed trading almost 2% up yesterday thanks to rising equity markets. The official inventory data published by the US Department of Energy generated only brief selling pressure in the afternoon. They show that...

ECB's likelihood measures to improve euro area financial conditions

Sep 03, 2015 08:47 am UTC| Commentary Central Banks

As the financial and monetary condition of euroarea are deteriorated, more measures are likely to be deployed by ECB before year-end. Barclays notes, ECB states in the last press conference: If any factors were to lead to...

Euro at daily highs amid mixed Euro zone PMI data

Sep 03, 2015 08:27 am UTC| Commentary

Final European PMI readings came out mostly better-than-expected, but investors rather ignored the numbers. The French services PMI for August came out at 50.6 and sharply worsened from Julys 52.0, while the same gauge...

Deterioration in Euro area monetary and financial conditions

Sep 03, 2015 07:23 am UTC| Commentary

Euro area financial market conditions have tightened since the last meeting of ECB. The euro reached an inflection point by mid July and since then it has appreciated on a REER basis by more than 6% (the NEER by over 7%)....

China’s FX reserves likley fell further in August

Sep 03, 2015 07:05 am UTC| Commentary

There were further reports and rumours yesterday that the proposed reserve requirement for FX forwards trading could be extended to all derivative products. For example, for forwards and swaps, 20% of the nominal value...

Downward revision to EU inflation outlook likely

Sep 03, 2015 07:02 am UTC| Commentary

On the inflation front, energy and food prices are now materially lower while the tradeweighted euro has strengthened. The ECB assumes unchanged exchange rate and oil prices in line with market futures reduce the inflation...

Turkey CPI unlikely to offer support to lira

Sep 03, 2015 06:58 am UTC| Commentary

Turkey CPI print is not likely to offer much support for the lira. Consensus expectations are for a print of +6.86% yoy, +0.1% mom. CPI measures on a yoy basis show a declining trend, but mom data still continue to exhibit...