Tag Archives: USA
The Global Macro Pulse
G10 currencies traded in tight ranges in Asia. AUDUSD is a touch lower at0.9424, EURUSD rose to 1.3596, having traded briefly over 1.36, and
The Global Macro Pulse
The Nikkei fell 0.7% while S&P futures are off just under 0.4% and the US 10yr Treasury yield is down a bit over 1bp to 2.584%, close to its New York lows.
The Global Macro Pulse
EM Asia FX was the main mover today, led by a surprise 85pip fall in the USDCNY fix to 6.1623, its lowest level in over two weeks.
FX Daily
The US job report will be the main focus today. We expect an increase in non-farmpayrolls of 250,000 but see risk of a pay-back from the extra strong April figure.
Weekly Report
Markets have priced in rate cuts Looking forward the key event will be the European central bank policy meeting.
US: Real GDP Tumbles at a 1.0 Percent Pace in Q1
Revised data show that real GDP declined at a 1.0 percent pace in the first quarter, compared to a preliminary rise of 0.1 percent. Real final sales rose at a 0.6 percent pace, only slightly less than first reported.
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.
NY Fed Staff: See 3% GDP Growth Rest Of 2014; +3.5% In 2015
The economy should grow at an annual rate of 3% over the remainder of 2014, despite a slow start to the year, according to the latest forecasts from the staff of the New York Federal Reserve Bank.
April Retail Sales Affected by Revisions to March
Retail sales increased 0.1 percent in April after March’s increase was upwardly revised to 1.5 percent.Revisions to March’s numbers were across the board. April’s control group retail sales were down 0.1 percent.
Import Prices Temper in April as Food and Energy Pull Back
Import prices unexpectedly fell in April, declining o.4 percent. The drop came as food and energy prices pulled back, but prices for core imported goods recorded mild increases. On balance, import prices remain tame.
Net Exports Will Still Be a Drag on Q1 GDP
Exports and Imports Improved in March Total exports increased 2.1 percent in March with goods improving 2.8 percent, while services rose by only 0.4 percent.