Weekly Economic and Financial Commentary: Data Keep Fed on Track for September Rate Hike
U.S. Review Data Keep Fed on Track for September Rate Hike The Employment Cost Index rose to its highest year-over-year pace of the expansion in Q2, signaling rising labor costs. The ISM manufacturing index cooled slightly in July but remained...
The Weekly Bottom Line: Canada – Solid Growth Raises Odds of October Rate Hike
U.S. Highlights The U.S. economy generated solid job growth in July with payrolls expanding by 157k (170k private). The unemployment rate edged down to 3.9% (from 4.0%) and the core (25-54) labor force participation rate moved higher. Tariff concerns were...
Week ahead: Two More Central Banks and a Handful of Data
After a significantly busy week, things are understandably going to be quieter next week. After all, we’ve already had three major central bank rate decisions from the likes of the BoJ, BoE and Fed and also some really important economic...
US Dollar Takes NFP Hit But Ends Up Higher on the Week
The US dollar fell on Friday after the U.S. non farm payrolls (NFP) came in below expectations with only a gain of 157,000 but otherwise the unemployment rate dropped to 3.9 percent and wage growth remained unchanged at 0.3 percent....
U.S. Non-Manufacturing Activity Softens in July
In tandem with its manufacturing counterpart, the Institute for Supply Management’s (ISM) non-manufacturing index fell by 3.4 points to 55.7 in July. The headline print was below the consensus forecast, which called for a more moderate decline to 58.6. Despite...
Australia & New Zealand Weekly: Political Uncertainty Casts Doubt on the RBA’s Optimistic Employment Forecasts
Week beginning 6 August 2018 Political uncertainty casts doubt on the RBA’s optimistic employment forecasts. Australia: RBA policy decision, Governor Lowe speech, Statement on Monetary Policy, housing finance. NZ: RBNZ policy decision, inflation expectations, retail card spending. China: CPI, new...
Week Ahead – UK and Japan Next to Report GDP Figures; RBA and RBNZ Rate Decisions Eyed
There will be a continuation of the central bank and Q2 GDP theme in the next seven days as interest rate decisions will be awaited out of Australia and New Zealand, while the United Kingdom and Japan will publish growth...
US: Job Growth Slows, but Labor Market Continues to Tighten
Payrolls rose 157,000 in July, while gains in May and June were revised up. Along with a pickup in wages and lower unemployment, the labor market continues to strengthen and supports the Fed’s plan to hike next month. Revisions Take...
U.S. July Employment Growth Slows
Highlights: July payroll employment gains slowed to 157k after upwardly revised increases the previous two months of 248k (213k previously) and 268k (244k). The separate, and more volatile, household survey indicated a stronger employment gain in July of 389k which,...
Canada’s Trade Deficit Gapped Lower in June
Highlights: June’s $0.6 billion deficit is the smallest since January 2017. Exports rose 4.1% in June though roughly half of that increase was price-related. Imports edged down only slightly. Non-energy export volumes rose for the third time in four months...
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