Decline in inflation likely to support further CBR rates cuts
May 12, 2015 18:21 pm UTC| Commentary
The stabilisation of financial markets in Russia is leading to a rapid decline in inflation, which has been running at a rate of about 8% per annum in April-May 2015. This has caused the CBR to cut rates aggressively from...
Russia trade surplus remains elevated due to import compression
May 12, 2015 18:05 pm UTC| Commentary
Russias trade surplus expanded in March to USD15.0bn from USD13.6bn in February. However, on a 12-month rolling basis the surplus has declined to USD183bn from a peak of nearly USD200bn in mid-2014.The main factor behind...
U.S. retail sales values probably recorded a modest gain in April
May 12, 2015 16:40 pm UTC| Commentary
According to Capital Economics, retail sales values (13.30 BST) in the US probably recorded a gain of only 0.2% m/m in April. Manufacturers data show that light motor vehicle sales dropped in April.Excluding autos, we...
GDP growth in the euro-zone probably rose slightly in Q1
May 12, 2015 16:29 pm UTC| Commentary
GDP growth is set to have slowed in Germany (07.00 BST) and the Netherlands (08.30 BST) after a strong end to 2014. But Frances GDP growth (06.30 BST) probably accelerated and the Italys economy (09.00 BST) may have just...
Q1 contraction adds downside risks to Mexican economy
May 12, 2015 15:39 pm UTC| Commentary
Industrial production remained flat in March, mostly driven by a recovery in the construction activities (3.0% m/m sa) offset by monthly contractions in manufacturing (-1.0%) and mining output (-1.6%). In annual terms IP...
Further measures will likely be needed from Riksbank
May 12, 2015 14:56 pm UTC| Commentary
Swedens headline inflation rate fell from +0.2% in March to minus 0.2%, below the Riksbanks +0.22% forecast in April. Lower mortgage interest costs and fuel prices were offset by higher price inflation for food, alcohol...
May 12, 2015 14:46 pm UTC| Commentary
The US Dollar lost ground in the global bond market sell-off as US Bonds have fallen relatively lesser compared to European Bonds especially. The US Dollar index which is a trade weighted basket of 6 currencies had peaked...