UK construction PMI rebounded more than expected
Jun 02, 2015 23:27 pm UTC| Commentary
The UK construction PMI rebounded more than expected (55.9 vs est. 55.0) following a steep six-point cumulative drop in the prior two readings, no doubt helped by a more decisive UK election outcome.New orders jumped from...
Euro area flash CPI estimates came in higher than expected
Jun 02, 2015 23:15 pm UTC| Commentary
The Euro area flash CPI estimates came in higher than expected. Headline CPI grew 0.3% m/m (cons: 0.2%) on higher oil prices lately. More encouraging, is that after stripping out the volatile energy component, core CPI...
Mexico – Playing the waiting game
Jun 02, 2015 22:20 pm UTC| Commentary
Banco de Méxicos (Banxico) is likely to leave rates at 3.0% when it meets on 4 June. A significant change is not expected in policy guidance.Growth has been sluggish but inflation has stayed well behaved - headline...
UK – BOE expected to keep the bank rate unchanged
Jun 02, 2015 22:14 pm UTC| Commentary
The Bank of England (BoE) is expected to keep the bank rate unchanged at 0.5% at its meeting on 4 June. Headline CPI inflation dipped into negative territory, -0.1% y/y, in March.Core CPI inflation also fell to 0.8% y/y....
Taiwan – USD-TWD to grind higher
Jun 02, 2015 22:09 pm UTC| Commentary
The Taiwan dollar (TWD) is gradually paring its early-year gains. TWD strength in 2015 has been driven primarily by strong equity inflows, underpinned by a rising trade surplus.Year-to-date, foreign investors have been net...
Fed’s dilemma – US core inflation flying low
Jun 02, 2015 21:54 pm UTC| Commentary
US Core PCE inflation increased only 0.11% m/m in April from 0.13% in March, pushing the y/y reading down to 1.2%. This contrasts with the core CPI inflation reading, which rose 0.26% m/m (and 1.8% y/y).The main difference...
Jun 02, 2015 21:19 pm UTC| Commentary
Westpac Research notes:Australian 3yr government bond (futures) yields did follow the offshore moves after already rising 7bp in response to the RBAs no-cut decision yesterday afternoon. The 3yr yield rose another 7bp to...
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