Singapore Feb NODX: A bigger drag from petrochemicals

Mar 17, 2015 07:04 am UTC| Commentary

Non-oil domestic exports fell 9.6% y/y in February, much weaker than our (-1.5%) and consensus(-0.9%) expectations.On a seasonally-adjusted basis shipments plunged 9.4% m/m to reach the lowest level in five years.The print...

Scope for additional stimulus from RBA beyond April-May

Mar 17, 2015 06:58 am UTC| Commentary

The RBA board minutes for March reiterate the Banks overt easing bias set out in the Governors decision statement and are consistent with another move in the April-May window.Westpac notes...Although it is unclear which...

Swiss survey indicators point to recession in near-term

Mar 17, 2015 06:52 am UTC| Commentary

Switzerlands PMI manufacturing index fell to 47.3 in February, the lowest level since October 2012.Meanwhile, the KOF leading indicator fell to 90.1 in February, the lowest since December 2011.Standard Chartered notes its...

Swiss trade surplus to decline this year and net exports to be a small drag on GDP

Mar 17, 2015 06:48 am UTC| Commentary

Sharp CHF appreciation likely resulted in losses for exporting firms that believed the floor would be maintained and thus kept their FX positions un-hedged.On a tradeweighted basis, the CHF has appreciated 10% since the...

Upward revisions for 2015 and 2016 US gas production forecasts

Mar 17, 2015 06:44 am UTC| Commentary

In the natural gas component of its monthly report, the EIA made upward revisions to 2015 and 2016 production forecasts of 1 billion cubic feet per day (bcf/d) to 78.4bcf/d and 80.0bcf/d respectively, based on increases in...

BoE MPC likely unanimous, robust labor-market data expected

Mar 17, 2015 06:34 am UTC| Commentary

The BoE MPC minutes will be released on Wednesday along with labour-market data. The February inflation report showed that the MPC believes the impact of lower energy prices is likely to have onlya transitory effect on...

Japan trade data likely disappointed in February

Mar 17, 2015 06:30 am UTC| Commentary

Japan will release February trade data on 18 March.Standard Chartered notes as follows.. We expect exports to have contracted by 1.0% y/y after they spiked 17% y/y in January, and imports to have increased 7.0% y/y...