UK’s May: US,UK Now Need Much Closer Trade Relations
Jan27

UK’s May: US,UK Now Need Much Closer Trade Relations

Casting her country as a partner with the U.S. in the “leadership of the free world,” UK Prime Minister Theresa May told the Republican majority in the U.S. Congress that a threatening post-Brexit world calls for a trade relationship more tightly linked than ever before. “I’m delighted that the new administration has made a trade agreement between our countries one of its earliest priorities,” she said,...

Read More
China Trade Surplus With U.S. May Stoke Trump Tension
Jan13

China Trade Surplus With U.S. May Stoke Trump Tension

China’s trade surplus with the U.S. was little changed last year, even as the Asian nation’s overall surplus fell 14%, adding further ammunition to incoming U.S. President Donald Trump’s case against unfair Chinese competition. China exported $250.8 billion more to the U.S. than it imported, accounting for 50% of the country’s total 2016 trade surplus of $509.96 billion, according to data released on Friday by...

Read More
BOJ: Japan Sep Supply-Side Consumption Index Up; Q3 Up 0.5%
Nov08

BOJ: Japan Sep Supply-Side Consumption Index Up; Q3 Up 0.5%

The Bank of Japan said Tuesday its Consumption Activity Index rose a real 0.1% on a seasonally adjusted basis in September, the first rise in two months. The slight increase followed -0.7% in August and +1.1% in July. As a result, the index rose 0.5% on quarter in July-September after falling 0.1% in April-June and 0.3% in January-March. The BOJ’s consumption indicator reflects a wide range of sales and supply-side statistics on...

Read More
German bunds slump as dihk raises GDP growth forecast; markets await ECB policy decision
Oct20

German bunds slump as dihk raises GDP growth forecast; markets await ECB policy decision

The German bunds slumped Thursday after Chambers of Commerce (DIHK) raised economic growth forecast for 2016. Also, investors now await the European Central Bank’s monetary policy decision for future market directions, which is scheduled to be released on October 20. The yield on the benchmark 10-year bond, which moves inversely to its price, rose 2 basis points to 0.04 percent, the yield on long-term 30-year note also climbed 2 basis...

Read More
BOJ Sep Tankan Sentiment Flat; Profits Hit by Strong Yen
Oct03

BOJ Sep Tankan Sentiment Flat; Profits Hit by Strong Yen

The Bank of Japan Monday released its quarterly Tankan business survey for September conducted from Aug. 29 to Sept. 30. The diffusion index is calculated by subtracting the percentage of companies reporting deteriorating business conditions from the percentage of those reporting an improvement. A positive figure indicates the majority of firms see better business conditions. The average dollar/yen exchange rate assumed by polled...

Read More
European Commission Sets Up Task Force For Brexit Talks
Sep14

European Commission Sets Up Task Force For Brexit Talks

Today, the Commission decided to set up a Task Force for the preparation and conduct of the negotiations with the United Kingdom under Article 50 of the TEU (“Article 50 Task Force”). This follows the appointment, on 27 July 2016, by President Juncker of Michel Barnier as Chief Negotiator in charge of those negotiations and of the new Task Force. As Head of the Article 50 Task Force, Michel Barnier will report directly to...

Read More
UK Analysis: Aug CPI Steady; Input PPI at 4-Year High
Sep13

UK Analysis: Aug CPI Steady; Input PPI at 4-Year High

Consumer price inflation steadied at its highest level since November of 2014, but the fall in sterling in the wake of the EU referendum continued to lift the price of imported materials, pushing producer prices to multi-year highs. The Consumer Price Index rose by an annual rate of 0.6% last month, falling short of the 0.8% median MNI forecast, matching a 0.6% increase in July. Prices rose by 0.3% between July and August after...

Read More
Canada August Housing Starts -6.1% to 182.7k SAAR, As Expected
Sep09

Canada August Housing Starts -6.1% to 182.7k SAAR, As Expected

Canadian housing starts declined 6.1% in August to a seasonally adjusted annual rate of 182,703 that was in line with analysts’ expectations, according to data released Thursday by Canada Mortgage and Housing Corporation. A draft version of the report was inadvertently posted on CMHC’s website for a brief moment on Wednesday, prompting the agency to release the actual report on Thursday instead of Friday. The decline in...

Read More
BOJ Nakaso: Won’t Rule Out Further Deepening of Negative Rate
Sep08

BOJ Nakaso: Won’t Rule Out Further Deepening of Negative Rate

The Bank of Japan won’t hesitate to deepen the negative interest rate from the current -0.1%, if necessary, to stimulate the economy toward 2% inflation, even though that would drag on banks’ profit margins, Deputy Governor Hiroshi Nakaso said Thursday. Nakaso said in a speech that the BOJ’s easing program comprising massive asset purchases, cash injections into the financial system and charging interest on the...

Read More
Japan Aug Consumer Confidence Rebounds; Fewer See Price Rise
Sep02

Japan Aug Consumer Confidence Rebounds; Fewer See Price Rise

The Cabinet Office on Friday released the results of its latest monthly Consumer Confidence Survey on households of two or more people, which was conducted on Aug. 15. * Japan’s consumer confidence index rose 0.7 point to 42.0 in August on a seasonally adjusted basis for the first month-on-month rise in two months vs. -0.5 point in July. It was the seventh rise in the past 12 months. * The government’s announcement of...

Read More
UK Aug Manufacturing PMI In Joint Largest Monthly Rise In 25yr
Sep01

UK Aug Manufacturing PMI In Joint Largest Monthly Rise In 25yr

The UK manufacturing sector rebounded in August, the CIPS survey from Markit showed, positing its joint largest monthly rise in the survey’s 25 years of data. Manufacturing production and new orders saw marked gains while both export orders, and less positively input costs, rose against a backdrop of weaker sterling. The manufacturing PMI rebounded to 53.3 in August from a revised 48.3 in July, with the latter a 41-month low....

Read More
House Prices Inflation Picks Up In August
Aug31

House Prices Inflation Picks Up In August

UK house price inflation inched higher in August, the latest survey from the Nationwide Building Society shows. The Nationwide House Price Index showed prices rose 0.6% on the month, up from the 0.5% pace recorded in July and 0.2% in June. Prices rose 5.6% on the year after a 5.2% increase in the prior month. Commenting on these data, Nationwide Chief Economist Robert Gardner noted prices seemed at odd with the underlying...

Read More