Spain: Domestic demand is the main growth driver

Aug 12, 2015 23:21 pm UTC| Commentary

Spain has already released its Q2 GDP growth number at an impressive 1.0% qoq. The details were not published but domestic demand was the main (or only) growth driver. Of that, two-thirds came from private consumption and...

France: The slow cyclical recovery continues

Aug 12, 2015 22:59 pm UTC| Commentary

Taking account of the recent hard data, a marked slowdown in Q2 growth is expected, clocking in at 0.3% qoq after a strong 0.6% qoq in Q1 15. There is no change to the June GDP forecast although the risk appears slightly...

German growth weaker than expected in H1 but consumption likely to return

Aug 12, 2015 22:43 pm UTC| Commentary

Germany looks likely to print growth of 0.3% qoq in Q2, lower than in the June forecasts. While monthly indicators suggest even lower growth, some recent data (retail sales and industrial production in June) is expected to...

USD/CAD Outlook

Aug 12, 2015 22:13 pm UTC| Commentary

The depreciation of the Canadian dollar continued unabated over much of the past month, with USD/CAD hitting a new 11-year high above 1.32 in early August. The last couple of days, however, have seen heightened volatility,...

AUD/USD Outlook

Aug 12, 2015 21:56 pm UTC| Commentary

AUD/USD has continued its trend weakening over the past month, hitting a new six-year low of 0.7216 following Chinas currency move. The continued weakening in global commodity prices has also impacted on AUD sentiment. The...

US: PBoC increases risk but September rate hike still on

Aug 12, 2015 21:50 pm UTC| Commentary

The move to a more free floating CNY has caused a close to 3% depreciation of the CNY against the USD, with ripple effects across the rest of Asia. This prompts the question of whether the shock to the effective USD...

USD/JPY Outlook

Aug 12, 2015 21:23 pm UTC| Commentary

USD/JPY continued to trend higher for much of the past month, reaching an intra-month peak of 125.28 following the devaluation of the yuan earlier this week. At the time of writing, however, it has broken below 124, with...