US labor market likely tightened further in September
Sep 30, 2015 17:06 pm UTC| Commentary
The Bureau of Labor Statistics (BLS) report on the employment situation in September will provide a final update on hiring activity as policymakers prepare for the October 27-28 Federal Open Market Committee (FOMC)...
US Autos in China: Tax Cut Should Stimulate Demand, Stabilize Pricing
Sep 30, 2015 16:27 pm UTC| Commentary
The China State Council announced an auto stimulus package earlier yesterday. The key provision is a reduction in the vehicle purchase tax to 5% from 10% on vehicles with 1.6 liter engine and below. This segment represents...
Norges Bank uncertainty premium visible
Sep 30, 2015 16:10 pm UTC| Commentary
Norges Bank FX transactions statistics released today show that foreign banks (proxy for speculative flows) net sold NOK 3.2bn in the Norwegian currency last week. The net selling primarily reflects how Norges Bank...
Eurozone inflation returns below zero
Sep 30, 2015 15:41 pm UTC| Commentary
Inflation in the euro area returned below 0% in August, ending a run of four successive months of positive inflation since May. The fall to -0.1% yoy from 0.1% in July marks a second straight drop that coincides with the...
US ADP employment report shows moderate pace of September job growth
Sep 30, 2015 15:14 pm UTC| Commentary
The ADP employment report for September showed private payroll growth of 200k on the month, slightly above consensus expectations (190k) and broadly in line with recent trends. The ADP estimate of August employment growth...
What would it take to break the EUR/USD range?
Sep 30, 2015 15:09 pm UTC| Commentary
EUR/USD has been in a range since the Fed pushed against the strong USD in March. It reached its minimum for the year, slightly below 1.05, on 13 March. It has since fluctuated between 1.10 and 1.15. The ECB has found ways...
Brazil's external debt situation has worsened, but remains manageable
Sep 30, 2015 15:02 pm UTC| Commentary
Brazils external debt is not among the worst in the EM world and is now decreasing in dollar terms -probably in response to worsening investment demand and financial conditions. However, the external debt to GDP ratio...
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Labour can afford to be far more ambitious with its economic policies – voters are on board
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