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US Markit Services PMI Records Rise to 54.8 in October

The seasonally adjusted Markit Flash U.S. composite PMI Output Index registered 54.9 in October, up from 52.3 in September and above the 50.0 no-change value for the eighth month running. It’s an 8th consecutive month of expansion. It was 54.8 a year ago, and is the highest reading since last November.…

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Fundamental and Technical Outlook: AUD/NZD

👤Xinyang 🕔October 26, 2016

Fundamental Outlook: AUD/NZD

During the Asia-Pacific session, the main event was Australian CPI which saw headline CPI beat expectations at 0.7% q/q versus 0.5% expected and 1.3% y/y versus 1.1% expected. The RBA’s core measures of inflation weren’t quite as upbeat with Weighted Mean CPI slightly missing expectations at 0.3% q/q versus 0.4% expected and 1.3% y/y versus 1.4% expected.…

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Germany Consumer Climate Declined to 6-Month Low

👤Xinyang 🕔October 26, 2016

News Event

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From Trading Economics: The GfK Consumer Climate for Germany is set to decline to 9.7 in November 2016 from 10.0 in October and missing market consensus. It was the lowest reading since April, as both income expectations and propensity to buy fell while economic prospects rose for the first time in four months.…

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US Home Price Index Beat Expectations

👤Xinyang 🕔October 25, 2016

News Event

From Trading Economics: The S&P CoreLogic Case-Shiller 20-City Composite Home Price Index rose 5.1 percent year-on-year in August of 2016, following a 5 percent increase in July and above market expectations of 5 percent. Portland, Seattle and Denver reported the highest annual gains over each of the last seven months with prices up by 11.7 percent, 11.4 percent and 8.8 percent respectively in August.…

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SNB President Jordan Cautious Over Monetary Policy Limits

👤Arthur Greene 🕔October 25, 2016

Yesterday, the Swiss National Bank (SNB) Chairman, Thomas Jordan, stated again that the central bank could cut its negative interest rates even more, if found necessary. He also added that negative interest rates are appropriate for now despite the risks associated with it, citing significant overvaluation of Swiss Franc and globally low interest rates.…

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BOC’s Poloz Worries About Further Easing

👤Lisa Harris 🕔October 25, 2016

A further easing from the Bank of Canada would bring the central bank closer to unconventional monetary policy easing and the decision on whether to cut rates again is not one to take lightly, Governor Stephen Poloz said on Monday. Taking questions from lawmakers, Poloz also said that there were ingredients of a possible divergence between Canada and the United States, both economically and from a monetary policy standpoint.…

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Fed Evans Links Rates Hike to Inflation Progress

👤Nurudeen Amedu 🕔October 25, 2016

The Federal Reserve may need to keep interest rates lower for longer to convince investors and the public that the central bank is serious about reaching its 2-percent inflation target, Chicago Federal Reserve Bank President Charles Evans suggested on Monday that, with inflation running very low both in the United States and globally, the Fed needs to show its commitment to achieving its inflation goal “sustainably, symmetrically, and sooner rather than later,” Evans said in slides prepared for a speech in Chicago.…

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Fundamental and Technical Outlook: EUR/CAD

👤Xinyang 🕔October 25, 2016

Fundamental Outlook: EUR/CAD

During the Asia-Pacific session, the focus has been on CAD following comments from Governor Poloz who stated that the “best plan is to wait 18-months” which saw USDCAD decline to below 1.33 before paring most of its gains after Poloz clarified this was in regards to the output gap and not monetary policy.…

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France Business Confidence Index Declined in September

👤Xinyang 🕔October 25, 2016

News Event

From Trading Economics: Business Confidence in France decreased to 102 in October from 103 in September of 2016. Business Confidence in France averaged 100.02 from 1976 until 2016, reaching an all-time high of 125 in June of 2000 and a record low of 68 in March of 2009.…

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Markit Manufacturing PMI at 12-Month High

👤Xinyang 🕔October 24, 2016

News Event

From Trading Economics: The flash IHS Markit Manufacturing PMI for the US increased to 53.2 in October of 2016 from 51.5 in September, beating market expectations of 51.5. It is the highest figure since October last year, boosted by stronger output and new business growth.…

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