Daily News

Janet Yellen Takes Centre Stage Today

Janet Yellen Takes Centre Stage Today

August 26th, 2016

Today, all eyes will be on the US Federal Reserve (Fed) Chairwoman, Janet Yellen, as she takes the stage as keynote speaker at the annual economic policy symposium in Jackson Hole, Wyoming. Her choice of words today will be all the more significant as market players weigh up the pros and cons facing the US economy, and whether another near term interest rate increase in on the cards. Interestingly, Janet Yellen’s speech will follow closely on the heels of the latest US second quarter GDP data. The curtains will come down on the conference today with a panel discussion involving the Bank of Mexico Governor, Agustin Carstens, the European Central Bank Executive Board Member, Benoit Coeure, and the Bank of Japan Governor, Haruhiko Kuroda. In other parts of the globe, the just released second estimate of UK’s GDP for the second quarter confirmed its preliminary figure. In Germany, the GfK’s consumer sentiment index showed that consumer confidence is likely to improve in September.

Daily Currency News

  • Investors Await Today’s Consumer Confidence Index from the Eurozone
    August 23rd, 2016

    Investors Await Today’s Consumer Confidence Index from the Eurozone

    After a light macroeconomic calendar yesterday, market participants today woke up to a raft of flash manufacturing and service Purchasing Managers’ Index (PMI) releases from across the Eurozone. In France, while the manufacturing PMI disappointed this month, service sector activity registered a rise. However, the German economy exhibited the opposite pattern for August, with the services sector recording its weakest performance in fifteen months. Investors now await the Euro region’s consumer confidence index data for August, due later in the day. In Britain, the Confederation of British Industry (CBI) will come up with its industrial orders data for August in a few hours, while across the Atlantic, manufacturing PMI for August and the July report on new home sales are up for release.

  • EU Leaders to Discuss Game Plan Today
    August 22nd, 2016

    EU Leaders to Discuss Game Plan Today

    This week begins with an extremely light global economic data calendar. The Federal Reserve (Fed) Bank of Kansas City’s annual economic talkfest at Jackson Hole is set to dominate headlines throughout the week ahead, as the tug of war over whether to lift US interest rate gathers intensity. With the Olympic spirit still burning bright, it remains to be seen whether the US Fed Chairwoman, Janet Yellen, like a field judge in the track and field events, will start the race for an interest rate rise as soon as September. Later today, Italian Prime Minister, Matteo Renzi, will host German Chancellor, Angela Merkel, and French President, Francois Hollande, on an island off the coast of Naples for a second round of trilateral talks before an informal European Union (EU) summit in September. The three leaders had held similar talks in Berlin exactly four days after the 23rd June UK referendum vote.

  • Subtle End to A Busy Week
    August 19th, 2016

    Subtle End to A Busy Week

    This week ends on a subdued note, with nothing worth mentioning in the data space today. Investor focus is already pinned at next week’s US Federal Reserve (Fed) of Kansas City’s annual economic symposium in Jackson Hole, Wyoming, where the Fed Chairwoman, Janet Yellen, is scheduled to deliver a speech. In the UK, the just released data showed that the nation’s public sector net borrowing recorded a surplus in July. German factory gate prices came in above expectations in July. The US data docket is devoid of any activity today.

  • ECB Monetary Policy Meeting Minutes On Tab
    August 18th, 2016

    ECB Monetary Policy Meeting Minutes On Tab

    Today is a busy day on the economic release front. In the UK, the just out data showed that the nation’s retail sales bounced back above expectations in July. In the Eurozone, the region’s seasonally adjusted current account surplus narrowed in June. Going ahead, market participants await the release of the region’s consumer price index (CPI) and construction output data. In addition to this, the European Central Bank (ECB) will release its latest monetary policy meeting minutes. This will shed some light on the internal discussions of the central bank’s Governing Council. Across the Atlantic, the US data docket contains weekly jobless claims and the Philadelphia Fed manufacturing survey. A speech by the San Francisco Federal Reserve (Fed) President, John Williams, is also on tab.

  • US Fed July meeting minutes in the limelight
    August 17th, 2016

    US Fed July meeting minutes in the limelight

    The US will command maximum attention today as the US Federal Reserve’s (Fed) July monetary policy meeting minutes are scheduled for release. These minutes will throw light on the central bank’s monetary policy outlook for the rest of this year and in turn help investors to determine near term direction for the US Dollar. In addition to this, the US weekly mortgage applications data and a speech by the St. Louis Fed President James Bullard are also on tab. In the UK, the latest set of jobs data saw the light today. While the nation’s unemployment rate held steady and average earnings rose for the three months ended June, the claimant count for July unexpectedly declined. Meanwhile, the Eurozone’s economic calendar paints a deserted look today.

  • Chock-a-block Global Economic Calendar Today
    August 16th, 2016

    Chock-a-block Global Economic Calendar Today

    Today is a pretty busy day for the release of new economic numbers across the globe. All the data points set to release today carry the potential to affect investor sentiment and will set the tone for the week ahead. The stream of economic releases begins its journey from the UK, with the just out data showing that UK’s annual consumer price index (CPI) advanced in July. Further, the nation’s producer prices rose more than expected during the same month. Post this, before market participants can even understand the true impact of the just released data, they will be hit by another set from the other side of the English Channel. This refers to the Eurozone and Germany’s ZEW economic sentiment index for August. Later, as the day draws to a close, a host of US economic releases will hit the wires. In fact, this is the major risk event for today - the US CPI for July along with the nation’s housing starts and industrial production data is up for release.

  • US housing market and manufacturing data eyed
    August 15th, 2016

    US housing market and manufacturing data eyed

    This week kick starts on a lighter note. The UK and Eurozone economic calendars are sporting an empty look today. In the US, a pair of second tier economic data points are scheduled for release later in the day - the NAHB housing market index and the NY empire state manufacturing index, both for the month of August. This week, main global risk events are the US and the Eurozone consumer price index (CPI), in addition to the release of the US Federal Reserve (Fed) and the European Central Bank’s (ECB) latest monetary policy meeting minutes. Britain’s unemployment rate, CPI and retail sales data will also attract attention.

  • The Eurozone and the US Take Centre Stage Today
    August 12th, 2016

    The Eurozone and the US Take Centre Stage Today

    This week ends with the release of an important set of data points from both the Eurozone and the US. A slew of economic releases from the Euro region have already seen the light of the day. Germany, the Eurozone’s largest economy, kick started the day with a couple of optimistic data points. A final reading of German consumer price index (CPI) grew in line with investor expectations in July and the nation’s gross domestic product (GDP) advanced more than anticipated during the second quarter of this year. In a few hours, a preliminary reading of the Eurozone’s second quarter GDP along with the region’s industrial production data for June will be out. In the UK, the just out data showed that annual construction output declined further in June. Later in the day, investors will divert their attention towards the US as they await the nation’s retail sales and consumer sentiment index data.

  • US Weekly Jobless Claims Eyed
    August 11th, 2016

    US Weekly Jobless Claims Eyed

    Today, the UK economic calendar remains absolutely data-quiet, and therefore market participants will divert their attention towards the Eurozone and the US. In the Eurozone, French consumer prices declined in July, bogged down mainly by a drop in the prices of manufactured goods. Meanwhile, Italian consumer prices advanced as expected in July. Across the Atlantic, the US weekly jobless claims, along with the nation’s import and export price index data, will take centre stage today.

  • US JOLTS job openings data awaited
    August 10th, 2016

    US JOLTS job openings data awaited

    Today, the global economic calendar appears relatively light, and the majority of data points are scheduled to release later in the day. Eurozone’s second largest economy, France, reported a second straight month of decline in its industrial production for June, mainly due to labour unrest. In the UK, the Bank of England (BoE) is set to release its Agent’s summary of business conditions report. Later today, the RICS housing price balance data for July will be out. Across the Atlantic, weekly mortgage applications, monthly budget statement and the JOLTS job openings data are due for release.

  • UK Grabs Spotlight Today
    August 09th, 2016

    UK Grabs Spotlight Today

    The British government just released a deluge of data points. UK’s industrial and manufacturing production registered an improvement in June. On the other hand, the nation’s goods trade deficit widened in June. Further ahead in the session, Britain’s National Institute of Economic and Social Research (NIESR) will release its latest GDP estimate for the three months ending in July. This indicator usually helps predict the nation’s official GDP report, which is released on a quarterly basis. In the Eurozone, German trade surplus slightly narrowed in June. Across the Atlantic, there are a set of second-tier data points due today. This includes the US wholesale inventories, NFIB business optimism and the IBD/TIPP economic optimism index data.

  • German Data Dominates This Week
    August 08th, 2016

    German Data Dominates This Week

    German economic data points will command maximum attention this week as the nation’s trade balance, consumer price index and the preliminary estimate of second quarter GDP are lined up for release. In the UK this week, focus will be on the nation’s NIESR GDP estimate for the three months ending in July, as it is usually a good predictor of actual GDP growth. Meanwhile in the US, the only major data release will come at the end of the week in the form of retail sales and the University of Michigan consumer confidence index. Today the data calendar remains relatively light. Britain will witness its first economic data for this week later in the day with the BRC retail sales monitor scheduled for release. In the Eurozone, the Sentix investor confidence index registered a greater than expected rise in August. Across the Atlantic, the US labour market conditions index for July is due today.

  • All eyes on the US nonfarm payrolls data
    August 05th, 2016

    All eyes on the US nonfarm payrolls data

    With the Bank of England’s (BoE) monetary policy decision now in the rear-view mirror, market participants have their eyes set on the much-awaited US nonfarm payrolls data for July, scheduled to release later today. Following a robust report in June, another strong payrolls result will increase expectations of an interest rate rise by the US Federal Reserve (Fed) this year. Further, the nation’s unemployment rate is expected to edge down in July. In addition to this, investors will look forward to the US trade balance and consumer credit change data, both for the month of June. In the UK, house prices witnessed the biggest slide since February 2016 in July, while in the Eurozone, German factory orders unexpectedly dropped in June.

  • Ready, Aim, Fire?
    August 04th, 2016

    Ready, Aim, Fire?

    Will the Bank of England (BoE) finally pull the trigger? This is the burning question across the globe today. The central bank’s surprise move to refrain from introducing any policy change at its July meeting has upped the ante for today’s meeting. However, the BoE is widely expected to cut the key interest rate to a record low of 0.25% as Britain’s economy teeters on the brink of recession. Given the recent string of weak numbers from Britain, the call for swift policy action from the country’s top financial authority is all the more powerful if confidence in the economy is to be restored. Meanwhile in the Eurozone, German construction Purchasing Managers’ Index (PMI) registered a rise in July. Across the Atlantic, US reports on weekly jobless claims and durable goods orders are up for release later today.

  • US core PCE data to grab eyeballs today
    August 02nd, 2016

    US core PCE data to grab eyeballs today

    The data deluge continues into the second day of the new month. In Britain, the just released data showed that the nation’s struggling construction industry deteriorated further in July. Later in the day, the nation will witness another economic release in the form of the BRC shop price index. In the Eurozone, investors await the region’s producer price index data for June. Earlier in the session, data indicated that number of people unemployed in Spain fell last month. Across the Atlantic, the US Federal Reserve’s (Fed) preferred inflation gauge, the core personal consumption expenditure (PCE), for June is up for release today. As US inflation has consistently dodged the central bank’s objective, a strong print can provide some renewed optimism. In addition to this, the US personal spending and ISM New York index along with a speech by the Dallas Fed President, Robert Kaplan, is scheduled today.

  • The BoE and US nonfarm payrolls in focus this week
    August 01st, 2016

    The BoE and US nonfarm payrolls in focus this week

    The twin highlights this week will be the Bank of England’s (BoE) monetary policy meeting and the US nonfarm payrolls data for July. Market participants expect the BoE to slash the interest rate to 0.25%. In the US, clarification will be provided on how the US Federal Reserve (Fed) is progressing with its dual mandate of inflation and employment, with the US personal consumption expenditure index also up for release this week. The just out data showed that Britain’s manufacturing PMI unexpectedly dropped in July to the lowest level since early 2013, amid reports that business activity in the UK is adversely affected post the European Union referendum. Meanwhile, the Eurozone and German manufacturing sectors advanced during the same month. Later today in the US, Markit and ISM manufacturing PMI reports, along with the nation’s construction spending data, will be closely tracked for further cues.

  • Eurozone and US Q2 GDP data to Attract Attention
    July 29th, 2016

    Eurozone and US Q2 GDP data to Attract Attention

    This week closes with a bang. A plethora of economic data points across the globe are up for release today. The day began with German retail sales posting a drop in June. Further, French GDP stagnated in the second quarter. Going ahead, the Eurozone consumer price index and GDP for the second quarter will be on investors’ radar. In the UK, the just out data showed that consumer credit surprisingly advanced, whereas mortgage applications fell more than expected in June. Across the Atlantic, market participants will confront the release of the US preliminary second quarter GDP, employment cost index, Chicago PMI and revised reading of the Reuters/Michigan consumer sentiment index.

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