Philly Fed manufacturing index stutters in July

Jul 16, 2015 16:02 pm UTC| Commentary

The Philadelphia Fed manufacturing index fell in 5.7 in July, printing well below our (13.0) and consensus (12.0) expectations for a modest monthly decline. The details of the survey confirm the signal from yesterdays...

ECB: Draghi, a slightly frustrated eurofighter

Jul 16, 2015 15:56 pm UTC| Commentary

It was no surprise, but something must be deeply wrong with the Euro area if an ECB press conference deals almost exclusively with a small member country and not so much with monetary policy. Greek banks will get slightly...

Russia's consumption to have improved slightly

Jul 16, 2015 12:31 pm UTC| Commentary

Russias internal consumption has been picking up after the shock to real income in Q1 15. The internal consumption is driven by slowly improving consumer sentiment and decelerating consumer price inflation. However, June...

Poland's industrial output growth to have accelerated

Jul 16, 2015 12:24 pm UTC| Commentary

Polands industrial output growth in June was mainly driven by growth in manufacturing (5.4% yoy) and mining (7.9% yoy). PMI increased from 52.4p to 54.3p in June testifying to healthy shape of Polish industry. According...

Greek situation remains volatile with implementation risks

Jul 16, 2015 09:58 am UTC| Commentary

So while we expect the ECB to remain in wait-and-see mode while the economy remains largely on track, the Governing Council will remain on the lookout for any risks that may throw the recovery off its forecasted...

ECB to remain on hold?

Jul 16, 2015 09:52 am UTC| Commentary

Although the economy appears largely on track and in line with the ECBs forecasts, recent weeks have seen some risk factors develop further. While there is no evidence yet that the economy will get side-tracked by Greece...

Robust soybean processing in the US gives prices a boost

Jul 16, 2015 09:41 am UTC| Commentary

According to the National Oilseed Processors Association (NOPA), 142.47 million bushels of soybeans were processed in the US in June. This is the highest processing rate in any month of June since records began, and almost...