Daily outlook for NZ rates

May 21, 2015 20:11 pm UTC| Commentary

Westpac Research notes:NZ swap yields 1 day: Given the movements in interest rates in key markets overnight, the NZ 2yr should open down 1bp at 3.36% while the 10yr should open down 3bp at 3.96%, flattening the curve...

Swings in oil and gasoline prices cloud Canadian retail outlook

May 21, 2015 19:40 pm UTC| Commentary

Despite the recent bounce in crude oil prices, the collapse in prices last autumn is still rippling through the retail environment this year through a slowdown in household income and a lower average price at the...

Euro-zone consumer confidence falls, but remains fairly high

May 21, 2015 18:34 pm UTC| Commentary

Mays decline in the EC measure of consumer confidence is another sign that the euro-zone economy has struggled to gather pace after Q1s slight pick-up in growth. Admittedly, the small fall in the index, from -4.6 in April...

PMIs suggest global growth still set to recover

May 21, 2015 18:17 pm UTC| Commentary

Preliminary PMIs for May, published on Thursday, suggest that global growth is likely to pick up a bit this quarter, but to remain unspectacular. A weighted average of Markits preliminary PMIs for the US, China, euro-zone,...

ECB QE looks set to continue at least until next Sept, and quite possibly beyond

May 21, 2015 18:09 pm UTC| Commentary

The minutes of the ECBs monetary policy meeting on 14th and 15th April (released on Thursday) underscored the message already given by Mario Draghi and colleagues, in the press conference after the meeting and in...

US CPI inflation set to have remained close to zero in April

May 21, 2015 17:49 pm UTC| Commentary

A drop back in seasonally adjusted gasoline prices means that U.S. headline CPI inflation (13.30 BST) probably remained close to zero in April. But the more recent rebound in crude oil prices suggests that retail gasoline...

BoJ probably won’t act today, but is set to increase stimulus in Oct

May 21, 2015 17:32 pm UTC| Commentary

The Bank of Japan will almost certainly leave policy settings unchanged today, and the apparent strength of Q1 GDP suggests that an expansion of asset purchases at the Banks July meeting is off the table."We remain...