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And that is down from around ~61% earlier here. So far, the German states' CPI data is a bit of a mixed bag but at least it doesn't show a consistent upside surprise to the inflation numbers this month. North Rhine Westphalia (5.9% vs 5.8% prior) and Baden...
Economic confidence 93.3 vs 93.7 expectedPrior 94.5Industrial confidence -10.3 vs -9.9 expectedPrior -9.4; revised to -9.3Services confidence 3.9 vs 4.2 expectedPrior 5.7; revised to 5.4The data seems to be released early (supposed to be at 0900 GMT), or at least this...
Prior -32.6Swiss investor sentiment falls further on the month as sentiment remains rather downbeat on the economic outlook. Credit Suisse does note that most analysts expect the SNB to raise its key rates once again in Q3 amid an anticipated rise in inflation this...
Some other state readings released at the same time:Hesse CPI +6.0% y/yPrior +6.1%Baden Wuerttemberg CPI +7.0% y/yPrior +6.8%This is quite a mixed bag as Bavaria and Hesse both show a slight drop in headline annual inflation in August compared to July. However, Baden...
As bond yields find some footing today, so is the dollar. USD/JPY is up 0.4% to 146.48 currently near the highs for the day as the dollar is steadying itself after the fall yesterday - which I would still argue is in part to do with a squeeze as noted here.EUR/USD is...
Global growth seems to be more and more in peril as the economic data for many advanced countries is starting to roll over and some even continues to slip further contraction. The Chinese authorities don’t look intentioned to flood the economy with more stimulus as...
Eurostoxx flatGermany DAX flatFrance CAC 40 flatUK FTSE +0.4%Spain IBEX -0.1%This mirrors the tepid mood in US futures, which are keeping flattish right now. I reckon investors are looking to bonds once again and so far the strong bids from yesterday are not following...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
Prior +2.3%HICP +2.4% vs +2.5% y/y expectedPrior +2.1%Headline annual inflation in Spain comes in as expected, though ticking slightly higher in August compared to July. The good news at least is that the core reading is seen down to 6.1% this month, compared to 6.2%...
There are a couple of large ones to take note of for the day, as highlighted in bold.The first few being for EUR/USD at 1.0875 and 1.0900 but both levels don't really hold much technical significance. The charts are showing that price action has room to roam between...
And that is up from roughly 50% yesterday. The shift in pricing comes after the inflation beat in Germany's industrial state earlier here. That tends to set the tone for what to expect from the other state readings later, so we'll see how things play out.10-year...
US:The Fed hiked by 25 bps as expected and kept everything unchanged.Fed Chair Powell reaffirmed their data dependency and kept all the options on the table.Inflation expectations and CPI readings continue to show disinflation with the last two Core CPI M/M figures...
Prior -1.6%Import price index -13.2% vs -12.9% y/y expectedPrior -11.4%The main drag on the year-on-year reading is energy price developments. If you strip out energy prices, import prices were only down 3.1% compared to July last year. But with an increase of energy...
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
The dollar took a knock yesterday and in particular we saw a squeeze back lower in USD/JPY as Treasury yields fumbled after some softer US data. That will put more scrutiny on the jobs numbers this week and we will start off with the ADP employment roulette data later...
Whether that happens next year will depend on various data at the timeEnding negative rates, yield curve control are options in case BOJ were to exit easy policyEven if BOJ abandons negative rates, that is not the same as monetary policy tighteningMonetary conditions...
If there's one takeaway from yesterday, it is that bad news is still good news for stocks. That so long as it is not bad enough to warrant a profound economic slowdown, and that also means bad news for the dollar.In other words, dollar bears are betting on a soft...
Looking at the breakdown:Overall livelihood 32.9 (-1.0)Income growth: 39.0 (-0.2)Employment: 42.7 (-1.3)Willingness to purchase durable goods: 30.0 (-1.1)Meanwhile, there was a slight increase in inflation expectations as 93.7% of households responded to the question...
A couple of poor data points yesterday seemed to be enough to cause some jitters about the US economy. That resulted in a big drop in Treasury yields and that took the dollar down along with it. I want to say that in part there is a bit of a squeeze in positioning at...
Via Bloomberg comes this piece on "China’s economy isn’t as bad as the prevailing mood suggests and growth is moving in the right direction as consumer spending picks up, according to an official at the British Chamber of Commerce in China."While the recovery has...