Forex News
European Elections: Anti-EU Parties Make Significant Gains
Anti European Union parties on both the right and left appeared to be making significant gains in Europe’s parliamentary elections,
Germany: Slightly weaker growth in sight
Ifo numbers came out in line with our expectations, a bit weaker than consensus. They point to ongoing but slightly slower growth driven by domestic demand.
Sweden: Business Tendency Survey better than it seems
Confidence in the total business sector fell by 2 points to 103.1 in May. The indicator peaked at 108.9 in January and has declined since then.
US: Building Permits Help Boost LEI in April
The Leading Economic Index rose 0.4 percent in April, led by strong gains from the interest rate spread and building permits, while both labor market components caused a slight drag.
US: Existing Home Sales Rebound in April
Following three consecutive months of declines, existing home sales rose 1.3 percent in April to a 4.65 millionunit rate. Inventories reached their highest level since August 2012. Condo sales jumped 7.3 percent.
EZ PMI Dip, Deflationary Pressures Keep ECB On Alert
Eurozone economic activity slipped marginally in May, according to the ‘flash’ estimate of purchasing managers’ index data from Markit Economics,
Euro area: PMIs highlight that France needs so much more than the ECB’s help
PMI numbers for the Euro area came in in line with expectations with the composite index almost unchanged. France was a disappointment and continues to struggle with problems that the ECB cannot solve.
Norway: Labour market – still sideways trend
• LFS unemployment fell to 3.3% • But the trend is sideways • Still somewhat on the strong side to Norges Bank
BOE May Minutes: Some MPC See Case For Earlier Hike
The Bank of England Monetary Policy Committee is split, with some members seeing the case for an earlier hike, although the vote for unchanged policy was unanimous, the May minutes revealed.
BOJ Keeps Policy Target, Shirai Endorses Board’s Risk Analysis
The Bank of Japan said on Wednesday its board decided by a unanimous vote to leave the bank’s policy target unchanged as expected at its two-day monthly meeting, maintaining its overall economic assessment.
QI Wage Price Index (WPI), May Consumer Sentiment
The 0.7% rise in the QI WPI was bang on market expectations of a 0.7% rise {CBA (f) 0.8%}. Annual wages growthremained steady at 2.6%pa and below the 3.1%pa growth a year ago and
Fed Plosser: May Need to Raise Rates Sooner vs Later
Philadelphia Federal Reserve Bank President Charles Plosser warned Tuesday the central bank may have to raise interest rates sooner than some expect to combat inflation if it materializes quickly,