Business Rebound Helps Pound Hold Ground
A growth surprise is helping sterling shrug off increasingly ferocious parliamentary battles Sterling’s sustained elevation following a 3% rebound last week received fresh impetus from unexpectedly resilient growth figures, even as increasingly acrimonious Brexit politics and soft underlying economic conditions...
UK Jobs Market Resilient in Brexit-Hit Economy as PM Seeks Ways to Bypass Law for Extension
Labour market data will be watched out of the United Kingdom on Tuesday just as Parliament is suspended again only a week after returning from the summer recess. The employment report, due at 08:30 GMT, comes after today’s data pointed...
Australian Housing Finance Approvals Rebound
Owner-occupiers (no.) +4.2%mth, –8.7%yr (f/c 1.5%). Investors (value): +5.3%mth, –20.4%yr. Total (value): +5.1%mth, –11.8%yr (all figs ex-refi). July housing finance approvals were stronger than expected, the number of owner occupier loans rising 4.2% vs the consensus forecast of a 1.5%...
Weekly Economic and Financial Commentary: Hiring Cools as Trade War Heats Up
U.S. Review Hiring Cools as Trade War Heats Up Amid increasing trade tensions and fears of recession, all eyes turned to the nonfarm payroll release this morning, which showed employers added only 130,000 jobs in August. Hiring has certainly slowed...
The Weekly Bottom Line: Markets Keep Calm and Carry on…For Now
U.S. Highlights After a dour start to the week, U.S. equities rebounded as they discounted news of a broadening global manufacturing slump. On net, the data this week suggested that the U.S. economy remains healthy, but warnings signals are still...
Dollar Retreats After Jobs Miss and Higher Risk Appetite
The US dollar is lower against major pairs on Friday after the U.S. non farm payrolls (NFP) came in lower than expected by 30,000 jobs. The final data point was 130,000, while not raising alarms as it still points to...
Powell’s Reiterates Commitment to Sustain Expansion; At Least Two More Cuts Still Expected in 2019
Fed Chair Powell’s speech in Zurich triggered a dollar rebound that also saw gold erase all of its nonfarm payroll gains. His speech will be the last comments we hear from him as we enter the blackout period for the...
ECB Research: Enough Talking, Now is the Time for Action
We expect the long-awaited ECB meeting on 12 September to set the scene for months and potentially quarters to come. The question is not if the ECB will announce new initiatives but how much it will deliver. We expect the...
U.S. Job Engine Continues to Slow
The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is...
Everybody Loves A Trade Show
The buzz from the apparent de-escalation of trade tensions between the U.S. and China continues to be the only show in town, with Wall Street posting healthy gains again overnight. The U.S. ISM Non-Manufacturing PMI drew sighs of relief as...
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