Eurozone

Week Ahead – US jobs expected to bounce back; RBA to stand pat

Posted on July 1, 2016 at 2:52 pm GMT

Fed rate hike expectations may have eased following the shock Brexit vote but US non-farm payrolls will still be closely watched next week as it’s an important barometer for the US economy. Also to keep an eye on are central bank meetings in Australia and in Sweden. Fed speeches and non-farm payrolls in focus After a quiet start to the week as Americans celebrate Independence Day on Monday, things will get busier from thereon with plenty of economic data to [..]

Eurozone inflation rises to 5-month high as energy drag recedes

Posted on June 30, 2016 at 11:57 am GMT

Inflation across the 19-nation euro area rose to a 5-month high in June as the drop in energy prices moderated. According to Eurostat’s flash estimate, annual CPI increased to 0.1% in June from -0.1% in May. It was the first positive reading since January and was above consensus forecasts of 0%. Core CPI, which excludes energy and unprocessed food items, was unchanged at 0.8% year-on-year, in line with analysts’ expectations. The pick-up in the headline rate was mainly due to [..]

Week Ahead – After Brexit, US and Japan data come in focus

Posted on June 24, 2016 at 2:04 pm GMT

Brexit developments will likely continue to dominate the coming week following the UK’s decision on Thursday to leave the European Union. However, upcoming data out of the US and Japan will be closely monitored as it could sway Fed and Bank of Japan policy. Spanish elections could bring more shocks to the Eurozone Hot on the heels of the UK’s leave vote, the EU could face more headache this weekend as Spain heads to the polls for the second time [..]

Eurozone services PMI slows unexpectedly in June but manufacturing PMI rises to 6-month high

Posted on June 23, 2016 at 11:15 am GMT

The latest Markit PMIs painted a mixed picture for Eurozone economic activity in June as the services sector appeared to struggle, while manufacturers enjoyed a strong month. Political and economic uncertainty were cited as the main reasons for the drop in business confidence across the region. The euro area’s services PMI according to Markit’s flash reading for June declined to 52.4 from 53.3 in May. The figure is the lowest in 18 months and compares with estimates of a smaller [..]

ZEW survey shows optimism by investors and analysts on German economy

Posted on June 21, 2016 at 1:25 pm GMT

The ZEW European Economic Research Centre showed a high degree of optimism by investors and analysts concerning the prospects of the German economy. The Economic Sentiment index jumped to 19.2 in June from 6.4 the previous month. The expectation was for the index to drop to 4.7. Economic sentiment was at its highest since August 2015. The current conditions index showed less improvement as it rose from 53.1 to 54.5. The figures were a vote of confidence in the German [..]

Week Ahead – Light week for US data but Yellen speech eyed; RBA and RBNZ meet

Posted on June 3, 2016 at 1:23 pm GMT

After a packed week for US data, the US calendar is looking relatively light for the next seven days. However, the spotlight will stay on the US as Fed Chair Janet Yellen delivers a speech on June 6, which may offer the final clue on whether the Fed will raise rates in the middle of the month. Also to watch are revised GDP estimates for Japan and the Eurozone. Plus, the Reserve Bank of Australia and the Reserve Bank of [..]

Eurozone inflation slightly up but stuck below zero

Posted on May 31, 2016 at 11:22 am GMT

Consumer prices in the 19-country euro area ticked up in May as the decline in energy prices eased slightly. The flash estimate of headline CPI rose to -0.1% year-on-year in May, from -0.2% in April, in line with consensus forecasts. This was the second straight month of declining prices across the Eurozone, and the fourth that prices have not increased. Core inflation, which excludes food and energy items, also moved higher, rising from 0.7% in April to 0.8% y/y in [..]

European Session – Euro firms on strong business survey data; dollar eases

Posted on May 30, 2016 at 2:26 pm GMT

European currencies recovered from the day’s lows as the dollar eased from its earlier highs as the effect of Fed Chair Janet Yellen’s comments on Friday faded. However, activity was muted in thin trading due to UK and US markets being closed on Monday for a public holiday. The euro edged up to 1.1140 dollars in late European session, and the pound reclaimed the 1.46 level against the dollar. The Swiss franc also strengthened as the dollar slid to 0.9920 [..]

Week Ahead – Key week for dollar with payrolls in focus; ECB meeting also eyed

Posted on May 27, 2016 at 1:20 pm GMT

It will be a busy week for US data and the dollar in the next seven days as a number of key indicators are expected including the all-important NFP report at the end of the week. The euro will also come into focus as the European Central Bank holds its scheduled policy meeting, while Chinese PMI and Australian and Canadian GDP numbers will also be important. Japanese household spending likely to fall back in April Japanese data will start the [..]

Asian Session – Dollar pares sharp gains; Oil approaching $50 at 7-week high

Posted on May 25, 2016 at 8:33 am GMT

The US dollar pared some of yesterday’s sharp gains when it rose on the back of solid US housing data. The dollar index climbed to a two-month high of 95.66 at the start of today’s Asian trading before easing to around 95.55 in late session. Strong gains in European and US equities on Tuesday helped risk appetite and Asian equities were also in positive territory today. The yen fell back as risk aversion faded but the currency was also weighed [..]

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