Forex News
China: What rebalancing?
The Chinese economy ended 2013 with a real growth rate of 7.7%, the same as in 2012. While this more than met the government’s full-year target of 7.5%, growth was soft by historical standards,
U.S. Treasurer Secretary Lew: Annual Growth could be 3%
The U.S. economy is off to such a good start in 2014 that annual growth could hit 3% for the first time since 2005, Treasury Secretary Jack Lew said Thursday.
Morning Report
Dollar dropped sharply overnight against yen and Europeans together with stocks and yields. DOW lost -176 pts, or -1.07% to close at 16197.35, at the lowest level in a month.
Euro area: January PMIs exceed expectations
China’s PMI below 50, the Euro area’s up again – a new world? No. But it fits into our view that the Euro area is recovering and that advanced economies will contribute a higher share to global growth than they did last year.
Sweden: December unemployment just above forecasts
Unemployment stayed flat in December at 8.0% (seasonally adjusted). This was weaker than expected. Forecasts stood at 7.9%.
Morning Report
Asian markets are mostly lower following weak manufacturing data from China. The flash reading of HSBC China manufacturing PMI unexpectedly dropped to 49.6 in January versus consensus of 50.4.
Consumer Sentiment – January 2014
The Westpac-Melbourne Institute Index of Consumer Sentiment fell in January to a six-month low of 103.3. Sentiment hasdeclined over the past two months,
CPI – QIV 2013 – Inflation transition proving elusive
The QIV CPI rose by 0.8%, well above market expectations (Mkt and CBA: +0.4%). The main “surprises” were a weatherrelatedspike in fruit & veg prices and an unusually large rise in holiday travel & accommodation costs.
2014 Growth Stronger Than 2013? IMF Thinks So
The world economy will grow by more than previously expected this year, the International Monetary Fund (IMF) forecast on Tuesday.
Euro area: How the new IMF forecasts compare to our own
Today, the IMF has published new GDP forecasts for the major economies. For the Euro area, the IMF lifted its forecast to what the latest Bloomberg consensus expects (1% this year, 1.4% next year; Nordea: 1% / 1.5%).
Global Investors Most Bullish Since 2009
International investors are the most upbeat about the global economy than at any time in almost five years, buoyed by the U.S.-led revival of industrial nations, according to the Bloomberg Global Poll.
IMF Upgrades UK Growth Forecast to 2.4 Percent
The International Monetary Fund is widely expected to raise its outlook for the UK this week, nudging up the country’s growth forecasts by more than for any other major economy.