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Daily Economic Outlook: 10th June, 2015

Jun 10, 2015 04:20 am UTC| Commentary

UK industrial production figures and this evenings Mansion House speech by the BoE Governor and the Chancellor will be the key domestic focus today. On the latter, it should be noted that the text of Mr Carneys speech will...

South Korea - Jump in new job seekers pushes unemployment higher

Jun 10, 2015 02:24 am UTC| Commentary

The seasonally adjusted unemployment rate rose unexpectedly to 3.9% in May (consensus: 3.7%), after ticking lower in March from a February high (Apr and Mar: 3.7%; Feb: 3.9%; Jan: 3.4%). This partly reflects the sluggish...

RBNZ is likely to set the stage for rate cuts, likely to move in September

Jun 10, 2015 00:36 am UTC| Commentary

The Reserve Bank of New Zealand (RBNZ) is expected to leave the policy cash rate unchanged at 3.50% at its monetary policy meeting on 11 June. It is likely to be a close call since the June, July and September meetings all...

Euroland’s GDP expanded 0.4% in Q1 2015

Jun 09, 2015 23:44 pm UTC| Commentary

Eurolands GDP growth of 0.4% in Q1 2015 was almost twice the growth pace experienced (on average) through 2014, though a little weaker than our forecast, and in line with Q4s upwardly revised 0.4% growth pace.The Q1 GDP...

India – The SIGMA signal remains bearish

Jun 09, 2015 22:12 pm UTC| Commentary

Standard Chartered notes:Our India Government Bond (IGB) positioning indicator (SIGMA) for May remained at -5.00, unchanged from Aprils level, providing a bearish signal for duration in June.On our scale, -5.00 indicates...

Malaysia – IP is expected to have softened in April

Jun 09, 2015 22:07 pm UTC| Commentary

The Department of Statistics will announce April industrial production (IP) data on 11 June. January-March IP increased 6.4% y/y, higher than 4.7% in the same period last year.Overall activity was likely supported by...

China – Growth is expected to have decelerated in Q2

Jun 09, 2015 21:53 pm UTC| Commentary

Total investment growth likely decelerated further in January-May. Steel product and cement prices did not rebound despite accelerated approvals of new infrastructure projects.This implies that demand for key input items...

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Economy

Russia Stocks End Flat as Energy Shares Support MOEX Index

Russian stocks finished mixed after the close of trading in Moscow on Saturday, with the MOEX Russia Index ending the session unchanged at 0.00%. Market sentiment remained cautious as gains in select energy and utility...

Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts

U.S. President Donald Trump traveled to the battleground state of North Carolina on Friday to defend his economic policies and reassure voters that the U.S. economy remains on solid footing, as concerns grow ahead of a...

EU Approves €90 Billion Ukraine Aid as Frozen Russian Asset Plan Stalls

Ukraine welcomed a major European Union decision on Friday to provide 90 billion in financial support over the next two years, a move Kyiv says will significantly strengthen its economic resilience amid the ongoing war...

Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts

White House economic advisor Kevin Hassett said President Donald Trump is correct in claiming inflation is low, despite official data, public sentiment, and many economists suggesting otherwise. Speaking on Fox Business,...

U.S. Stocks End Week Higher as Tech Rally Offsets Consumer Weakness

U.S. stocks closed higher on Friday, recovering from a volatile start to the week as gains in technology and AI-related shares outweighed sharp declines in consumer stocks such as Nike. Major indexes finished in positive...

Politics

Australia Mourns Bondi Beach Hanukkah Attack Victims as Government Orders Security Review

Australia marked a national day of reflection on Sunday to honour the victims of a deadly gun attack that struck a Hanukkah celebration at Sydneys Bondi Beach a week earlier, killing 15 people and injuring dozens more. The...

Venezuela Condemns U.S. Seizure of Oil Tanker as “International Piracy”

The Venezuelan government has strongly condemned the seizure of a new oil tanker near its coast, accusing the United States of committing what it described as a serious act of international piracy. In an official statement...

Bangladesh Mourns Slain Youth Leader as Funeral Draws Thousands Amid Political Unrest

Tens of thousands of Bangladeshis gathered in Dhaka on Saturday to attend the funeral of Sharif Osman Hadi, a slain youth leader and election candidate whose killing has intensified political unrest ahead of the countrys...

U.S. Intercepts Venezuelan Oil Tanker in International Waters Amid Escalating Blockade Tensions

The United States has intercepted an oil tanker in international waters near Venezuela, intensifying tensions just days after President Donald Trump announced a total and complete blockade of sanctioned oil shipments...

Google and Apple Warn U.S. Visa Holders to Avoid International Travel Amid Lengthy Embassy Delays

Alphabets Google and Apple have advised certain employees working in the United States on temporary visas to avoid international travel, as visa stamping delays at U.S. embassies and consulates can now stretch up to 12...

Science

Jared Isaacman Confirmed as NASA Administrator, Becomes 15th Leader of U.S. Space Agency

The U.S. Senate has officially confirmed billionaire private astronaut Jared Isaacman as the new NASA administrator, making him the 15th leader in the agencys history. The confirmation, which took place on Wednesday, marks...

Senate Sets December 8 Vote on Trump’s NASA Nominee Jared Isaacman

The U.S. Senate Commerce Committee announced it will vote on December 8 on President Donald Trumps renewed nomination of private astronaut and tech entrepreneur Jared Isaacman to lead NASA. Isaacman, known for his...

NASA Cuts Boeing Starliner Missions as SpaceX Pulls Ahead

NASA has significantly scaled back Boeings Starliner program after years of technical issues and delays, announcing that the next Starliner mission to the International Space Station (ISS) will fly without astronauts. The...

Blue Origin’s New Glenn Achieves Breakthrough Success With First NASA Mission

Blue Origins massive New Glenn rocket marked a major milestone as it completed its first mission for paying customers, sending two NASA satellites toward Mars and successfully landing its reusable booster at sea. The...

Cogent Biosciences Soars 120% on Breakthrough Phase 3 Results for Bezuclastinib in GIST Treatment

Cogent Biosciences (NASDAQ: COGT) shares skyrocketed over 120% after the biotech company announced groundbreaking results from its Phase 3 PEAK trial evaluating bezuclastinib in combination with sunitinib for patients with...

Technology

U.S. Lawmakers Urge Pentagon to Blacklist More Chinese Tech Firms Over Military Ties

A group of nine Republican U.S. lawmakers has formally urged the Pentagon to expand its list of Chinese companies accused of supporting Chinas military, intensifying scrutiny of Beijing-linked technology firms amid rising...

Dina Powell McCormick Resigns From Meta Board After Eight Months, May Take Advisory Role

Dina Powell McCormick has resigned from Meta Platforms board of directors effective immediately, just eight months after joining the social media company, Meta confirmed on Friday. The unexpected departure comes at a time...

TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement

TikTok has taken a major step toward securing its future in the United States after its Chinese parent company, ByteDance, announced it has signed binding agreements with three major investors to form a new joint venture...

Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy

The U.S. government under President Donald Trump has launched a formal review that could pave the way for the first-ever shipments of Nvidias H200 artificial intelligence chips to China, according to multiple sources...

Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz

Oracle Corporation (NYSE: ORCL) shares surged sharply in extended trading on Thursday, reflecting renewed investor optimism fueled by reports of a potential U.S. TikTok transaction and fresh fundraising discussions...