US retail sales report key, but unlikely to markedly shift post-payrolls sentiment

Jun 05, 2015 16:52 pm UTC| Commentary

Even in the aftermath of the solid May employment report, the onus remains on lasting evidence of a return to US growth in Q2 and over 2015 for the FOMC to proceed towards the tightening of monetary policy this year.The...

Bounceback in UK activity in Q2 may be more modest than previously expected

Jun 05, 2015 16:40 pm UTC| Commentary

With UK GDP growth of 0.3% in Q1 so far unrevised from its first estimate - against BoE expectations of 0.5% in mature data - some recent softening in business surveys, notably of PMIs, suggests that the bounceback in Q2...

Bundling of upcoming Greek IMF payments pushes the ‘hard’ deadline to end-June

Jun 05, 2015 16:09 pm UTC| Commentary

Bundling of Greek IMF dues in June sets a hard deadline at the end of the month. Ongoing Greek negotiations with creditors, which had seemed to be approaching final bargaining positions - with notable progress around...

U.S. economy likely returning to more solid growth from Q2 onwards

Jun 05, 2015 16:03 pm UTC| Commentary

Nonfarm payrolls were stronger than expected in May. Up by 280k, they were significantly stronger than consensus (226k) expectations. There were net revisions of 32k to the previous months of payrolls, suggesting an even...

U.S. earnings growth to pick up further later this year

Jun 05, 2015 15:56 pm UTC| Commentary

The broadest measure of average hourly earnings was up 0.3% m/m in April, bringing average hourly earnings up 2.3% y/y, versus 2.2% in April. Average hourly earnings for production and non-supervisory workers were up 0.3%...

USD review

Jun 05, 2015 15:00 pm UTC| Commentary

Western Union:The market camp betting on a 2015 U.S. rate hike got a big backer: the worlds biggest economy. The dollar soared after U.S. job growth easily topped forecasts (+225,000) with a gain of 280,000 in May.The...

CAD review

Jun 05, 2015 15:00 pm UTC| Commentary

Western Union:The loonie strengthened to new session highs after Canadian hiring last month proved the strongest all year. Hiring was nearly 6 times better than forecasts of +10,000 with an outsized gain of 58,900....