Eurozone

Eurogroup meeting ends without major progress on Greek debt proposals but to meet again on Thursday

Posted on June 22, 2015 at 2:24 pm GMT

The Eurozone finance ministers have ended their emergency meeting in Brussels today without any major progress for resolving the heightened impasse between the Greek government and the creditors. Before the Eurogroup meeting got underway, the European Central Bank met to discuss extending the emergency liquidity assistance to Greek banks. The ECB agreed to extend the ELA by 2 billion euros to 88 billion euros. As savers continued to raid Greek banks, with some reports are suggesting that the withdrawals for [..]

Week Ahead – US GDP could get revised again; Eurozone PMI to show slowing activity

Posted on June 19, 2015 at 10:28 am GMT

After a data-packed week, it will be a relatively quieter economic calendar with the Markit flash PMI for June being the main data of the week. With an emergency summit planned for Monday by Eurozone leaders to discuss the Greek crisis, fears of a Greek default and ongoing developments of the negotiations will likely keep investors on alert. Tuesday will be dominated by PMI data as the Markit flash manufacturing and services PMI for June is released for Germany, France [..]

Grexit fears intensify on lack of progress as deadline nears

Posted on June 15, 2015 at 10:02 am GMT

Euro volatility increased on Monday as another round of talks between Greece and its creditors failed. Sunday’s meeting, which was seen as the last opportunity for significant progress before the Eurogroup meeting, lasted 45 minutes according to reports as the differences between the two sides remained too wide. The Greek government’s refusal to budge on key election promises on pensions, wages and VAT on energy are the main sticking points for Greece’s creditors. The next key date is the Eurogroup [..]

Week Ahead – Inflation data for US, UK and Eurozone to set the tone but all eyes on Fed Meeting

Posted on June 12, 2015 at 12:10 pm GMT

The week ahead is set to be a significant one for monetary policy as May inflation figures are published for the US, UK, Eurozone and Canada. Central bank decisions for Switzerland, the US and Japan will be closely watched, especially the Fed’s June meeting. The US will start the week with industrial production figures out on Monday. They are expected to show industrial production expanded by a monthly 0.2% in May, versus -0.3% in April, while the Empire State Manufacturing [..]

Week Ahead – Industrial production and Chinese data to come in focus

Posted on June 5, 2015 at 11:08 am GMT

The coming week will see key industrial production figures released for April as well as revised GDP data for the Eurozone and Japan. But China will also be in focus as trade and inflation figures will be published alongside industrial production data. China will begin the week with the release of trade balance figures for May. This, and the industrial production data out on Thursday will be closely watched as fears of a sharper-than-expected slowdown in the Chinese economy remain [..]

Eurozone flash CPI rises by more than expected in May

Posted on June 2, 2015 at 11:32 am GMT

Flash CPI figures out this morning for the Eurozone showed consumer prices rising by more than expected in the Euro area in May. Annual inflation in the Eurozone came in with a reading of 0.3% for May in the flash estimates. This compares with an annual rate of 0% in April. Consensus estimates in a Reuters poll were for a figure of 0.2%. Core CPI, excluding energy, food and alcohol & tobacco, also came in above estimates in May at [..]

Week Ahead – US employment data will be key as no surprises expected from ECB, RBA and BoE meetings

Posted on May 29, 2015 at 12:06 pm GMT

Next week will see the release of PMI manufacturing and services data for the US, Eurozone, the UK and China, as well as monetary policy decision by the European Central Bank, the Bank of England and the Reserve Bank of Australia. Eurozone data is likely to dominate the week with the release of May’s final Markit manufacturing and services PMI for the bloc. Euro area PMI for manufacturing is out on Monday and services PMI is released on Wednesday. Individual [..]

Eurozone economic sentiment holds steady in May

Posted on May 28, 2015 at 1:13 pm GMT

Economic sentiment in the Eurozone was unchanged in May at 103.8, remaining at 4-year highs. The figure is slightly ahead of a Reuter’s poll that it would come in at 103.5. Sentiment was also stable in the wider European Union, unchanged at 106.4. In a separate report, the business climate indicator for the Eurozone fell slightly in May from April but stayed positive at +0.28. Confidence improved in services, retail trade and in the construction sector during May. Services was [..]

Eurozone Flash PMI mixed but strong manufacturing sends euro higher

Posted on May 21, 2015 at 12:22 pm GMT

The Markit Flash Purchasing Managers’ Index (PMI) for May were published this morning, containing some surprises that reversed the euro’s earlier decline. First out was French PMI, showing an improvement in both the manufacturing and services PMI over the previous month. French Flash Manufacturing PMI remained in contraction but came in much stronger than expected at 49.3 versus estimates of 48.6. In April, the figure was 48.0. Flash Services PMI was weaker than expected at 51.6 versus estimates of 52.0 [..]

Week ahead – April CPI data and BoJ meeting to dominate

Posted on May 15, 2015 at 10:33 am GMT

A flurry of economic data is expected next week for the Eurozone, UK, US and Japan as we move into the third week of the month. The US will see CPI figures for April coming out on Friday, where consumer prices are expected to rise to 0% year-on-year in April from -0.1% in March. Before that though, the FOMC minutes for the Fed’s April 28-29 meeting are published on Wednesday, which will be highly watched by the markets for any [..]

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