Eurozone

Eurozone slips back into deflation in September

Posted on September 30, 2015 at 1:47 pm GMT

Eurozone inflation fell back into negative territory in September, figures out today showed. The flash CPI estimate fell to -0.1% year-on-year in September from 0.1% in August. Expectations were for inflation to ease to 0%. Core CPI was in-line with estimates, coming in at 0.9% and unchanged from the previous month. As expected, the biggest downward pressure came from energy prices, which declined by 8.9% year-on-year. Food, alcohol and tobacco prices were up by 0.6% year-on-year, holding steady from the [..]

Week Ahead – China PMI and US jobs in focus, plus more from Yellen

Posted on September 25, 2015 at 11:32 am GMT

The US economy is likely to remain in the spotlight for a second week as key data on employment and consumption expenditure is out, and a number of Fed officials are due to speak including Yellen herself. Data from Japan and China will also come into focus as markets watch for signs of a slowdown in the region’s two largest economies. US personal spending and personal income is released along with the PCE price index on Monday. Personal consumption expenditure, [..]

China Manufacturing PMI falls to 6½-year lows while Eurozone PMI eases

Posted on September 23, 2015 at 10:37 am GMT

Flash PMI data out on Wednesday showed manufacturing activity continuing to shrink in China, but the Euro area remains buoyant as output was stable in September. The Caixin flash manufacturing PMI for September came in at 47.0 in September, below consensus estimates of 47.5 and down from 47.3 the previous month. This was the 7th consecutive month of a reading below 50, which indicates contraction, and takes output to a 6½ -year low. Decreases were reported in most areas including [..]

Week Ahead – All eyes on FOMC meeting; crucial inflation and retail sales data before then

Posted on September 11, 2015 at 12:00 pm GMT

It will be a nervous start to the week for investors as markets anxiously await the Fed’s policy meeting decision next Thursday. Mixed US economic data and global economic uncertainty have kept markets guessing as to whether the Fed will raise rates next week. Recent events have lowered expectations of a rate hike but Fed policymakers have kept the door open. Before then, there is plenty to keep the markets busy with key data out of China and the Bank [..]

Eurozone growth revised up on higher household spending and exports

Posted on September 8, 2015 at 2:23 pm GMT

Eurozone output received a boost on Tuesday as a surprise upward revision in GDP growth figures showed a broadening recovery across the euro area. Growth was revised up for both the first and second quarters of the year. The Eurozone economy expanded by 0.5% q/q in the first quarter, versus initial estimates of 0.4%, and by 0.4% q/q in the second quarter, versus 0.3% in the first estimate. As a result of the revisions, euro area GDP stood 1.5% higher [..]

Week Ahead – RBNZ expected to cut rates; China exports to come in focus again

Posted on September 4, 2015 at 12:01 pm GMT

The coming week will shed some light on how industrial production fared in August in Europe’s five largest economies, and the RBNZ, Bank of Canada and Bank of England meet for their September policy meeting. After the RBA and ECB left policy unchanged this week, the Reserve Bank of New Zealand may be the one to act next week as the Bank of England and Bank of Canada are not expected to announce any changes. The Reserve Bank of New [..]

ECB cuts Eurozone inflation and growth outlook; stresses willingness to act

Posted on September 3, 2015 at 2:48 pm GMT

The European Central Bank (ECB) kept its key interest rates unchanged at its latest monetary policy meeting. The size of its asset purchase program was also kept unchanged at €60 billion per month. However, the ECB announced changes to the limit of the share of a country’s debt issue that the central bank can purchase. It increased the issue share limit from 25% to 33%, following a review of the program after the first six months of purchases. In its [..]

Euro firms slightly after Eurozone inflation beats estimates

Posted on August 31, 2015 at 11:14 am GMT

Eurozone CPI was unchanged at 0.2% year-on-year in the flash reading for August. Consensus estimates were for the inflation rate to fall to 0.1%. Core CPI was also stronger-than-expected, coming in at 1.0% year-on-year, versus estimates of 0.9%. The core rate, which excludes food, energy and alcohol, was unchanged from July when it rose to a 16-month high. Inflation in the Eurozone has been running below the European Central Bank’s 2% target since February 2013 and briefly flirted with deflation [..]

Week Ahead – RBA and ECB meetings, final US payrolls before Fed September meeting in focus

Posted on August 28, 2015 at 12:09 pm GMT

The first week of September sees the European Central Bank (ECB) and the Reserve Bank of Australia (RBA) meet for their latest monetary policy meetings. After a busy week of numbers for the US, the main US data that will be high on investors watch is the August payrolls data, which will be the final set before the FOMC meets later in the month. ECB’s Governing Council is to hold its latest monetary policy meeting on Thursday, which will be [..]

Eurozone PMI points to increased activity in August but France lags

Posted on August 21, 2015 at 9:34 am GMT

Flash PMI data for the Eurozone showed manufacturing and services activity picking up in August. The Markit flash composite PMI for the Eurozone rose to 54.1 in August from 53.9 in July. Estimates were for a reading of 53.7. Manufacturing PMI was unchanged at 52.4, against expectations of 52.2. Services PMI rose to 54.3 in August from 54.0 in July and was above estimates of that it would stay unchanged. A reading above 50 indicates expansion, while a value below [..]

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