Russia’s economic recovery likely to be L-shaped on further oil weakness

Dec 08, 2015 05:11 am UTC| Commentary

There is continued contraction in the Russian economy on an annual basis, dropping 3.7% yoy in October and from January to October 2015, vs -4.1% yoy in Q3 15, because of continuous weakness in oil price, the lagging...

Bloomberg commodity index drops to sixteen year low

Dec 08, 2015 04:21 am UTC| Commentary

Bloomberg commodity index, dropped to its lowest level since 1999, as commodities around globe joined in the slump in energy prices, after oil producers cartel OPEC scrapped the production ceiling. Oil led the drop on...

Taiwan's 2015 growth likely to be at 0.9% y/y

Dec 08, 2015 04:11 am UTC| Commentary

Taiwans improved inflation outlook and growth, which was bottoming in Q3 should make CBC more comfortable to stand pat in its December meeting. The outlook for exports stays challenging and the trade contraction might...

Taiwan headline inflation likely to creep higher into next year

Dec 08, 2015 03:52 am UTC| Commentary

Taiwans November inflation rose 0.53% yoy, which was higher than expected by consensus. Shift of oil base, which reduced the drag on headline inflation should be a reason for this. Headline inflation actually dropped...

Guide to today’s important data and events

Dec 08, 2015 03:43 am UTC| Commentary

Not many economic dockets scheduled for today, focus on Euro zone GDP. Data released so far UK - BRC retail sales dropped -0.4% in November. Australia - National Australia Banks business confidence rose...

Frontend KRW swap rates no longer pricing in further easing

Dec 08, 2015 03:06 am UTC| Commentary

Frontend KRW swap rates are now trading above the 3M CD rate (which serves as the floating leg fixing for KRW swaps). This marks a change from 3Q when the market was speculating on further easing by the Bank of Korea...

Commodity currencies hurt by oil, Asian currencies by disappointing data

Dec 08, 2015 02:57 am UTC| Commentary

Commodity currencies retreated on oil prices hitting a new low for the year. WTI crude oil prices slipped to $37.65/barrel yesterday, its worst level since Feb 2009. OPEC did not limit production and will keep oversupply...