Daily Economic Outlook: 2nd July, 2015
Jul 02, 2015 04:16 am UTC| Commentary
While markets await further developments in the Greek crisis, the focus today will at least briefly turn to the US. The monthly employment report has usually been seen as the key release of the month and that the FOMC has...
ISM factory index confirms U.S. economy shaking-off soft patch shackles
Jul 02, 2015 03:58 am UTC| Commentary
The ISM manufacturing index was 53.5 in June. This matches the high for the year and indicates that the drag on factories coming from the strong U.S. dollar and weak oil industry is no longer having as much negative impact...
Mexico Banxico to hike right after US Fed
Jul 02, 2015 03:45 am UTC| Commentary
Banxico announced changes to its monetary policy calendar to coordinate decisions along with the US Fed. The press release mentions that the relative monetary position with the US has an important effect in the evolution...
Weak EM to pose downside risk to global growth and manufacturing
Jul 02, 2015 03:40 am UTC| Commentary
Emerging markets sentiment was generally week almost everywhere. But, global manufacturing output should show an improvement in upcoming months, given the strength of the leading DM economies, the apparent signs of...
US investments continue to keep previous debt sustainable
Jul 02, 2015 03:15 am UTC| Commentary
US continues to pile up positive net investment income, despite a net -$7tn investment position. This positive income in light of a large negative NIIP position is a striking contrast to other countries, such as Germany or...
Fundamentals supporting secular USD strength
Jul 02, 2015 03:07 am UTC| Commentary
Recent US net international investment position data remain consistent with our view for a secular positive trend in USD. USD strengthening since the crisis, compared to when the EUR-USD was around 1.60 in summer 2008,...
South Korea's large current account surplus increases pressure to weaken FX
Jul 02, 2015 02:20 am UTC| Commentary
South Koreas current account surplus widened to USD8.7bn in May (April: USD8.1bn; March: USD10.4bn), broadly in line with the forecast (USD8.5bn). The slightly bigger surplus was driven by a substantial improvement in the...
South Africa’s plan to move away from coal: 8 steps to make it succeed
Germany lowers voting age to 16 for the European elections
IceCube researchers detect a rare type of energetic neutrino sent from powerful astronomical objects