US retail sales rose 0.6% m/m in July

Aug 13, 2015 20:49 pm UTC| Commentary

US retail sales rose 0.6% m/m in July, on par with the median consensus forecast of surveyed economists. Revisions to the month prior brought Junes initial decline of -0.6% m/m up to a flat reading to two decimal points...

ECB's July minutes reveal cautious optimism

Aug 13, 2015 16:35 pm UTC| Commentary Central Banks

The account of the monetary policy meeting of 15-16 July suggests that the members viewed the ECBs policy measures to be on track, having contributed to improving confidence and growth, to a reduction in economic slack and...

CNY depreciation, a structural shift for Asia FX

Aug 13, 2015 16:20 pm UTC| Commentary

The Peoples Bank of China (PBoC) has surprised markets for a third day with a weaker fixing at 6.4010, weaker than yesterdays spot close of 6.4083 and divergent with the overnight G7 spot action that pointed to a weaker...

Mexico monetary policy minutes: The hawks are stretching their wings

Aug 13, 2015 16:05 pm UTC| Commentary Central Banks

Banxico published the minutes of the monetary policy meeting of July 30. At that time, the board decided to keep the reference rate unchanged, but the minutes reveal that one member (out of four) had a preference to hike....

US Q2 GDP tracking estimate rises to 3.3% on June inventories

Aug 13, 2015 16:00 pm UTC| Commentary

Business inventories rose 0.8% m/m in June, well above our (0.4%) and consensus (0.3%) expectations. The stronger-than-expected reading on monthly inventory growth was driven by a 0.9% m/m gain in retail inventories. A...

Broad based retail sales improvements affirm strength of consumer

Aug 13, 2015 15:57 pm UTC| Commentary

Retail sales rose a solid 0.6 percent in July to the highest monthly level ever - $446.5 billion. May and June were also revised upward, affirming the strength of the consumer, and if the Fed is looking for a reason to...

Poland Inflation increases incrementally as deflation persists

Aug 13, 2015 15:54 pm UTC| Commentary

In July, Polands inflation continued to creep upward while remaining deep in deflation at -0.7% y/y, compared with -0.8% in June (Figure 1). Food (-1.7% y/y) and energy (-2.9% y/y) deflation are keeping headline inflation...