Danmarks Nationalbank intervention to cap EUR/DKK upside in April
May 05, 2015 16:54 pm UTC| Commentary
Danmarks Nationalbank (DN) sold DKK33.9bn of FX in intervention to support DKK in April.The move highlights that the downward pressure on EUR/DKK has reversed and that DN is now reacting to cap EUR/DKK upside.Government...
Euro-zone retail sales growth likely to have slowed in March
May 05, 2015 16:42 pm UTC| Commentary
Euro-zone retail sales growth (10.00 BST) is likely to have slowed in March. Sales volumes dropped by 0.2% m/m in February, their first fall in five months.Country-level data, which cover around 60% of euro-zone-wide...
UK services Markit/CIPS to see another strong reading in April
May 05, 2015 16:40 pm UTC| Commentary
Aprils services Markit/CIPS report (09.30 BST) should provide reassurance that last weeks disappointing first estimate of GDP is not indicative of the recoverys true strength. Marchs survey suggested that the sectors...
Retail sales growth in Australia probably weakened slightly in March
May 05, 2015 16:27 pm UTC| Commentary
After accelerating over the past few months, retail sales growth in Australia (02.30 BST) probably weakened slightly in March.Admittedly, a boost to sales from the release of the Apple Watch is an upside risk. But with...
Unlikely to see a strong rebound in Indonesia’s economy
May 05, 2015 16:24 pm UTC| Commentary
Indonesias economy slowed again in Q1, underlining the challenge faced by the countrys new president and adding to the case for further rate cuts. (Data released on Tuesday.) Indonesias GDP grew by just 4.7% y/y in Q1,...
Central banks in Poland and Romania set to keep interest rates on hold
May 05, 2015 16:21 pm UTC| Commentary
Capital Economics says the National Bank of Romanias easing cycle is probably now at an end, and the MPC will leave its policy rate unchanged at 2.0%.Elsewhere, the central bank of Poland is also likely to leave its policy...
May 05, 2015 15:21 pm UTC| Commentary
Americas biggest trade deficit in years caused the dollar to surrender a gain as it boded poorly for the next revision of U.S. first quarter growth. America ran a $51.4 billion trade gap in Mar, the biggest since October...