China concerns weighed on Cyclical sectors

Jul 20, 2015 06:20 am UTC| Commentary

Cyclical sectors of China overweights have weighed on relative performance. Positioning in cyclical sectors was elevated and at risk of unwinding amid the heightened volatility.Indeed, since the start of the month, energy...

Mexico's retail sales trending up

Jul 20, 2015 06:08 am UTC| Commentary

Mexicos retail sales growth until April this year has trended up mostly on base effects."With our forecast of 5.0% yoy growth in May, average retail sales growth this year stands at 5.1% yoy as against the average of 1.8%...

NZD squeezes higher ahead of key RBNZ meeting

Jul 20, 2015 05:48 am UTC| Commentary

NZD squeezed 60pts higher overnight on comments from PM Key that "NZD has fallen faster than expected" and that the economy is "still growing at a good pace."The sharpness of the move is perhaps evidence of just how short...

China data to be more correlated to dollar than equities

Jul 20, 2015 05:44 am UTC| Commentary

After the collapse in Chinese equities, many investors are concerned about another slowdown in Chinas growth profile as the wealth effect weighs on spending.Using Chinas data surprises as a proxy for growth, it is found...

Brazil's labor market deterioration continues

Jul 20, 2015 05:41 am UTC| Commentary

Brazils non-seasonally adjusted data shows the unemployment rate falling to 4.3% in December 2014 and rising to 6.7% through May 2015. Societe Generales seasonally-adjusted series, in contrast, suggests the unemployment...

Brazil’s current account balance improving

Jul 20, 2015 05:32 am UTC| Commentary

Due to a sharp contraction in imports in June, Brazils trade balance improved significantly to USD4527.5mn. As a result, the H1 trade balance in improved to USD2.2bn compared with a deficit of -USD2.5bn in H1 14 and...

Food prices cause upside risks to Brazil's inflation rate

Jul 20, 2015 04:58 am UTC| Commentary

May and June releases suggest that Brazils inflation acceleration continued through Q2 despite the signs that adjustments to regulated goods and services prices are over. The bulk of the upside surprise appears to be...