Australia & New Zealand Weekly: Our RBA Forecast Remains on Track; FED No Lnger Likely to Pause in December
Week beginning 23 July 2018 Our RBA forecast remains on track; FED no longer likely to pause in December. Australia: CPI, PPI, trade prices. NZ: trade balance. China: industrial profits. Europe: ECB policy decision, credit data. US: GDP, durable goods...
Canadian Retail Sales Bounced Back Solidly in May
Highlights: Retail sales rose 2.0% both in nominal and volume terms to reverse a big 0.9% drop (-1.1% volumes) in April. Retail sale volumes are tracking a solid rebound in Q2 as a whole after a soft start to the...
Canadian Inflation Jumped to a Six-Year High in June, Core at 2% Again
Highlights: After May’s CPI fell short of expectations, inflation surprised to the upside in June with the headline rate jumping to 2.5% from 2.2%. The pickup in inflation relative to this time last year (when headline was at 1.0%) reflects...
Canada: Consumer Prices Up 2.5% in June, Core Measures Average 2%
Consumer prices were up 2.5% year-on-year in Canada in June, up from 2.2% in May and above the consensus forecast for 2.3%. Adjusted for seasonal patterns, prices rose 0.1% month-on-month. Several items saw price growth accelerate year-on-year, led by energy...
May Thaw Brings Canadians Back to the Shops
Canadian retail sales climbed 2.0% in May, a solid recovery from April’s (revised) 0.9% drop, which Statistics Canada attributed to inclement weather in many parts of the country. The sales gain was all due to more goods being sold, as...
Dollar Could Weaken But Not Because of Trump
The US dollar was on course to end sharply higher yesterday until Donald Trump spoke. While the greenback has steadied and could still push higher, market participants are now in no doubt what the President thinks of the currency’s growing...
Euro Trading A Tad Higher In The Asian Session
For the 24 hours to 23:00 GMT, the EUR rose slightly against the USD and closed at 1.1646. The US dollar declined against the Euro, after the US President, Donald Trump criticised the Federal Reserve’s (Fed) policy of gradual rate...
Britain’s Retail Sales Unexpectedly Declined In June
For the 24 hours to 23:00 GMT, the GBP declined 0.45% against the USD and closed at 1.3016, amid disappointing retail sales data. Data revealed that UK’s retail sales unexpectedly fell 0.5% on a monthly basis in June, compared to...
Tallying Up Tariffs: The Effect on Inflation
Executive Summary Trade tensions have been escalating since the spring when President Trump announced tariffs on steel and aluminum imports. Tit-for-tat responses to the initial tariffs levied by the administration earlier this year are beginning to add up. Supply chain...
Gold Slide Resumes as Jobless Claims Slide
Gold has resumed its losing ways in the Thursday session, after showing little change on Wednesday. In North American trade, the spot price for one ounce of gold is $1217.53, down 0.83% on the day. On the release front, manufacturing...
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