US housing starts for March from the Census Bureau Prior month report Housing starts prior month 1162K revised to 1142K Housing starts -0.3% vs 5.4% exp 6- month average 1189K Building permits 1269K vs 1300K exp Building permits prior 1291K unrevised at 1291K Permits -1.7% vs 0.7% exp Midwest starts fell -17.6% West rose 31.4% Single
The Politburo of China’s Communist Party reviewed the economy and made arrangements on economic work earlier today China is facing economic downward pressure Sees improvement in market confidence Says China is to stick to structural leverage cut Laments that downward economic pressure is structural in nature The meeting was chaired by China president Xi Jinping
Via Bloomberg This is an interesting post that came up on Bloomberg recently based on the relationship between the S&P 500 and US jobless claims. The post was written in response to the people who say that the US economic recovery is a myth and that what you actually have is a Fed-inflated bubble (that
Currency reserves may be related by 60% The Financial Times reports that Turkey’s currency reserves may not equal the $28.1 billion touted by the central bank. Instead, they could be inflated by short-term borrowing via swaps. Strip those out and reserves total only $16 billion. It’s a key metric because the reserves are Turkey’s defense
“The goods and services deficit was $49.4 billion in February, down $1.8 billion from $51.1 billion in January, revised,” the U.S. Census Bureau and the U.S. Bureau of Economic Analysis jointly announced on Wednesday. Key takeaways from the press release February exports were $209.7 billion, $2.3 billion more than January exports. February imports were $259.1 billion, $0.6
ANZ analysts note that the New Zealand’s CPI increased 0.1% q/q, below ANZ and market expectations, with annual inflation declining to 1.5% y/y, from 1.9%. Key Quotes “Falling petrol and durables prices drove down tradable inflation (-1.3% q/q, -0.4% y/y), while non-tradable inflation rose a solid 1.1% q/q, as expected. Annual non-tradable inflation ticked up
The NZD/USD remains stuck in a 0.6650-0.6950 trading range, which is expected to continue over coming months, according to analysts at BNZ. As the year progresses, they expect a more positive tone to the global economic backdrop to prevail – a factor which the NZD is sensitive to – supporting a move to 0.70 by
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Analysts at TD Securities are expecting the US industrial production to advance at its strongest pace in four months, posting a 0.2% m/m gain in March. Key Quotes “Despite improving from consecutive declines in Jan-Feb, manufacturing activities should remain subdued during the month as suggested by lower employment levels in the sector (establishment survey). That