Strong decline of US crude oil and gasoline stocks
Jun 11, 2015 09:23 am UTC| Commentary
Oil prices are continuing the rally they began at the end of last week. Brent climbed to more than $66 per barrel yesterday, while WTI peaked at just shy of $62 per barrel. The price rise was boosted by sharp falls in...
Sharp inflation moderation and/or growth deterioration Chile's key downside risks
Jun 11, 2015 08:06 am UTC| Commentary
Two factors could alter the Chiles key downside risks. First, growth in H2 15 and the outlook for 2016 would have to worsen more seriously (less than 2% in H2). Second, inflation would have to decline faster (less than...
China's local government debt swap program doubled to CNY2trn
Jun 11, 2015 07:59 am UTC| Commentary
Chinas MoF announced yesterday it will double the local government debt swap program to CNY2trn (USD320bn). Under this program, local governments can convert their maturing loans into longer dated municipal bonds with...
Inflation data decisive for SEK today
Jun 11, 2015 07:51 am UTC| Commentary
A glance at the SEK exchange rate really does provide reason for optimism, as EUR-SEK has been stable in the area of 9.30-9.40 for weeks without any further expansionary measures on the part of Riksbank.A temporary move...
US private consumption finally stronger?
Jun 11, 2015 07:46 am UTC| Commentary
Following a week low on data so far it is once again worth looking at the calendar of US data publications today. May retail sales are an important set of data due for publication. So far consumption in the US had...
Rate cut heavily weighs on NZD-USD
Jun 11, 2015 07:43 am UTC| Commentary
The Reserve Bank of New Zealand cut its key rate from 3.50% to 3.25% last night. A glance at the NZD-USD exchange rate which had previously been at 0.72 and is now keeping just above 0.70 illustrates that it caught a...
BCCh acknowledges downside risk to growth in H2 15
Jun 11, 2015 07:30 am UTC| Commentary
The BCCh paused in November after having reduced the overnight rate by a total of 200bp to 3.0% since October 2013. The central banks recent statements were generally neutral, reflecting the environment of low growth and...
Canadians are feeling increasingly powerless amid economic struggles and rising inequality
Another election, another round of Nigel Farage hype, with no lessons learned