Alexander Bueso
US CPI gains slow to 2.9% in July, core prices at 3.2%
According to the Department of Labor, the Consumer Price Index increased at a month-on-month clip of 0.2% at both the headline and core level.That was just as expected by economists.The annual rate of increase in headline CPI however slipped from 3.0% for...
2 months ago
Rebound in Autos and parts sees US July retail sales surge
According to the Department of Commerce, in seasonally adjusted terms, retail sales volumes shot 1.0% higher month-on-month to reach $709.7bn.That followed a revised 0.2% decline in June (Preliminary: 0.0%), but was more than twice the 0.3% gain projected...
2 months ago
Philly Fed factory index drops unexpectedly in August
The Federal Reserve Bank of Philadelphia's manufacturing sector index fell from a level of 13.9 in July to -7.0.Economists had pencilled in a reading of 7.0.A key subindex linked to new orders softened from 20.7 to 14.6.The subindex for staffing levels me...
2 months ago
Weekly US jobless claims dip again
According to the US Department of Labor, in seasonally adjusted terms first time jobless claims fell by 7,000 over the week ending on 10 August to reach 227,000.Economists had forecast a slight rise to 235,000.The prior week's figure was revised up by 1,0...
2 months ago
US consumer confidence little changed in August, University of Michigan says
So too their expectations for inflation.Preliminary results for the month of August revealed a small improvement in the University of Michigan's consumer confidence index from a July level of 66.4 to 67.8 (consensus: 66.9)."With election developments domi...
2 months ago
Olympics deliver unexpected boost to euro area PMIs in August
But some economists were quite downbeat regarding the outlook, arguing that the Paris games would fade while the manufacturing sector was in "rapid decline".The preliminary result for Hamburg Commercial Bank's Eurozone composite purchasing managers' index...
1 month ago
Citi says risk/reward in US dollar longs 'attractive'
In a research note sent to clients, analyst Daniel Tobon noted how the Greenback was still tracking the decline in US government debt yields.Indeed, short-term interest rate differentials between countries were a well-known driver of near-term moves in ex...
1 month ago
'The time has come', Fed's Powell says
In remarks prepared for a speech at the Jackson Hole Economic Symposium, Jerome Powell added: "We do not seek or welcome further cooling in labor market conditions.""The direction of travel is clear, and the timing and pace of rate cuts will depend on inc...
1 month ago
US new home sales jump in July
According to the Department of Commerce, in seasonally adjusted terms, sales of new single-family homes increased at a month-on-month pace of 10.6% in July to reach an annual rate of 739,000.Economists had forecast a reading of 630,000.That was on top of...
1 month ago
US consumer sentiment little changed in August, University of Michigan says
The final reading for the University of Michigan's consumer confidence index printed at 67.9 for August, against a reading of 66.4 in July.Economists had pencilled in a print of 68.0.However, according to survey director Joanne Hsu, consumers' short and l...
1 month ago
Sector movers: Defence shares drag on market amid investor caution
Defence stocks dropped after analysts at Bank of America highlighted how EU Defence stocks were now trading at a 47% premium relative to the Stoxx Europe 600.In general, they believed that it was time to be "selective" in Defence with limited scope left...
1 month ago
Cathay Pacific inspects all A350 jets after engine issue
Dozens of flights had already been cancelled.In response, the airline said that it had conducted inspections of its entire A350 fleet, comprising 48 aircraft, and had identified 15 jets which needed to have engine components replaced.Three aircraft had al...
1 month ago
ISM factory PMI edges up by less than expected in August
But that was mostly due to rising levels of product inventory.The Institute for Supply Management's manufacturing sector Purchasing Managers' Index edged up from a reading of 46.8 for July to 47.2 in August.Economists had pencilled in a reading of 47.5.A...
1 month ago
US trade deficit yawns wider in July amid jump in technology imports
According to the Department of Commerce, in seasonally adjusted terms the country's total trade deficit jumped by 7.9% month-on-month to reach -$78.8bn.Economists had forecast -$79.0bn of red ink.Imports of goods and services rose by 2.1% versus June, hit...
1 month ago