- Thu, 05 May 2016 07:17:13 GMT
Canada's trade deficit widens to record level in March, as exports plunge sharply
"The details were absolutely terrible, consistent with the headline, as exports dove 4.8 per cent, with every category lower except aerospace"- Bank of Montreal [ANNOUNCE]Canada's exports fell sharply in March and the country's trade deficit with the rest of the world widened to a record level, fuelling doubts on the strength of the recovery in the resource-reliant economy.[/ANNOUNCE] Canada posted a record trade
- Thu, 05 May 2016 06:59:04 GMT
UK construction output falls more than expected
"Softer growth forecasts for the UK economy alongside uncertainty ahead of the EU referendum appear to have provided reasons for clients to delay major spending decisions until the fog has lifted"- Markit [ANNOUNCE]The UK's construction output rose at the slowest pace in nearly three years in April, suggesting the economy was losing steam before June's referendum on whether to leave the
- Thu, 05 May 2016 06:48:05 GMT
US companies add 156,000 jobs in April
"The job market appears to have stumbled in April"-Moody's Analytics Inc [ANNOUNCE]American private employers added the fewest workers in three years in April, considerably below economists' expectations, with signs of weak hiring activity across most sectors.[/ANNOUNCE] Employers added 156,000 jobs in April, according to Automatic Data Processing Inc. Economists had predicted an increase of 193,000. Moreover, ADP lowered March's gains
- Thu, 05 May 2016 06:37:06 GMT
Euro zone growth to be steady but slow in Q2
"Clearly the PMIs, as they have been for a while, suggest that the strength we saw in Q1 might well be a temporary phenomenon. April's figures are consistent with that view"- Oxford Economics [ANNOUNCE]Economic growth in the Euro zone is likely to be steady but slow in the second quarter, underlying European Commission concerns that the currency area's recovery remains fragile and vulnerable
- Wed, 04 May 2016 06:44:10 GMT
New Zealand unemployment increases amid rise in labour participation
"The lift in the quarter was entirely the result of strong participation, which is an encouraging sign"- ANZ [ANNOUNCE]New Zealand's first quarter employment data showed unemployment rose as the participation and employment rate also increased. [/ANNOUNCE]The unemployment rate ticked higher to 5.7% in the reported period, from a revised 5.4% the prior quarter and above the forecast of 5.5%. Despite the
- Wed, 04 May 2016 06:33:07 GMT
UK manufacturing sector encounters a surprise contraction in Apri
"There is rising uncertainty about the global economy, the oil and gas industry, retail sector and the EU referendum. With this backdrop unlikely to change in the coming months, the second quarter is likely to remain a bleak landscape for industry"- Markit [ANNOUNCE]The UK manufacturing sector encountered a surprise contraction in April that reflected in the PMI, as it entered negative
- Wed, 04 May 2016 06:22:04 GMT
Brexit looms large; June is a "live meeting", Lockhart says
"Two rate hikes are certainly possible. We have enough (Fed policy) meetings remaining but it depends entirely on how the economy evolves"-Dennis Lockhart, Atlanta Fed President [ANNOUNCE]Atlanta Federal Reserve President Dennis Lockhart said that the UK's referendum on whether to leave the EU could "loom large" as the Fed weigh whether to hike interest rates at its next policy meeting.[/ANNOUNCE]
- Tue, 03 May 2016 07:04:13 GMT
China Caixin manufacturing gauge slides further into contraction
"The fluctuations indicate the economy lacks a solid foundation for recovery and is still in the process of bottoming out. The government needs to keep a close watch on the risk of a further economic downturn"- Caixin Insight Group [ANNOUNCE]Activity in China's manufacturing sector unexpectedly dropped further in April, fuelling doubts about whether Beijing's stimulus measures can sustain growth in the
- Tue, 03 May 2016 06:53:03 GMT
RBA unexpectedly cuts OCR amid slowing inflation
"Inflation has been quite low for some time and recent data were unexpectedly low"- Glenn Stevens, RBA Governor [ANNOUNCE]The Reserve Bank of Australia surprised economists by slashing interest rates to a new historic low in a bid to reignite inflationary pressures.[/ANNOUNCE] The central bank cut the official cash rate by 25 basis points to 1.75%, after keeping rates on hold for
- Tue, 03 May 2016 06:42:03 GMT
US manufacturing sector grows at a moderate pace
"The first quarter is going to be the worst quarter for consumption for all of 2016"-RBC Capital Markets LLC [ANNOUNCE]The US manufacturing sector expanded at a more moderate pace in April, partly due to a slowdown in new orders, but an increase in export orders to the highest level in more than a year offered hope for the sector. [/ANNOUNCE]The
- Tue, 03 May 2016 06:22:04 GMT
Draghi defends negative interest rate policy; manufacturing sector continues to improve
"But they [low interest rates] are not the problem. They are the symptom of an underlying problem"- Mario Draghi, ECB President [ANNOUNCE]ECB President Mario Draghi responded to critics from German Finance Minister Wolfgang Schauble that negative interest rates hurt savers and weighing on the banking sector.[/ANNOUNCE] Draghi said that low interest rates are not harmless but they are only the symptom, not the cause of
- Mon, 02 May 2016 07:31:04 GMT
China's manufacturing growth slows in April
"Factory investment still declined while overall investment was recovering, which will rein in further expansion of production"- National Bureau of Statistics[ANNOUNCE]Activity in China's manufacturing sector increased for the second month in a row in April, but only marginally, fuelling doubts about the sustainability of a recent pick-up in the world's second-largest economy.[/ANNOUNCE] According to the National Bureau of Statistics, the official
- Mon, 02 May 2016 07:20:03 GMT
Canada's economy shrinks in February
"It's only a tiny dip after a huge gain, but February GDP is the first hint that the big momentum seen in the last three months is likely to fade in upcoming reports"- CIBC World Markets [ANNOUNCE]Canada's economy contracted for the first time in five months in February, as the manufacturing, mining and energy sectors all shrank. [/ANNOUNCE]Canada's gross domestic product
- Mon, 02 May 2016 07:09:03 GMT
US inflation slows in March
"The first quarter is going to be the worst quarter for consumption for all of 2016"-RBC Capital Markets LLC [ANNOUNCE]The Fed's favourite inflation barometer slowed in March, falling from one-and-a-half-year peak, while consumer spending ebbed. [/ANNOUNCE] The price index for personal consumption expenditures excluding food and energy ticked up 0.1% in March, following a revised 0.2% gain. The rate of inflation
- Mon, 02 May 2016 06:56:04 GMT
Euro zone economy grows strongly, whereas inflation slides further into negative zone
"Meanwhile, generally improved job markets across the euro zone are supportive to consumer spending along with the boost to purchasing power coming from negligible deflation/inflation"- IHS Global Insight [ANNOUNCE]The Euro zone posted mixed fundamentals with the economy growing strongly and unemployment falling slightly while consumer prices dropped yet again into deflation territory.[/ANNOUNCE] The flash estimate for Euro zone gross domestic product rose
- Mon, 02 May 2016 06:45:07 GMT
Key highlights of the week ended April 29
US[ANNOUNCE]The Fed opted not to hike interest rates and remained ambiguous about raising rates in June amid moribund economy and weakening consumer spending. [/ANNOUNCE]The US central bank proceeded with its plan to move cautiously on raising the benchmark federal-funds rate, which has been between 0.25% and 0.50% since December, when the Fed increased short-term rates after keeping them near zero