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An Improvement From LastTitle:
On Balance Eurozone Data is Negative
Forex News and Events:
This event laden week started out with a bang. China's official manufacturing PMI released over the weekend printed at 53.1 vs. 50.8, significantly outpacing consensus opinion. The number provided markets a sense of relief as there has been lingering concerns over the prospect of a hard landing. While this single print does not end the debate, it does give reason for optimism. That said there is the fear that seasonality skewed the result as the HSBC flash PMI released over a week ago was considerably softer. From Europe, data continues to show divergent economic paths between nations and an overarching worrying trend in unemployment. The string of PMI manufacturing from Euro zone members remained under the 50 threshold, with Germany, Italy and France showing ...
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Japan business mood flat, slight improvement seen: BOJ tankan
(Reuters) - Japanese business sentiment was flat in the March quarter and big manufacturers expect only modest improvements in coming months, the Bank of Japan's tankan survey showed, which suggests the central bank will remain under pressure to deliver more policy stimulus.
The headline index for big manufacturers' sentiment was minus 4 in March, unchanged from the reading in December and indicating pessimists continue to outnumber optimists, the closely watched quarterly survey showed on Monday.
The reading, which reflects broad growth trends in the economy and is one of the BOJ's key policy gauges, was worse than the median market forecast for minus 1.
Big manufacturers expect conditions to improve only slightly
over the next three months, with the index for June seen at minus 3 ...
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Yen eases, Aussie jumps as China data cheers
(Reuters) - The safe-haven yen eased on Monday, while the Australian dollar jumped after surprisingly strong Chinese factory activity data eased fears about a hard landing in the world's second biggest economy.
The Australian dollar rose 0.5 percent to $1.0400 having peaked at $1.0470 after a report on Sunday showed activity at big Chinese factories hit an 11-month high in March.
"This is now three months of trend improvement, and is good news for the AUD and commodity currencies in general," said Annette Beacher, head of Asia Pacific research at TDSecurities.
Against the yen, the Aussie climbed to 86.44, pulling well away from last week's trough around 84.60.
Adding to the yen's woes was a weaker-than-expected reading on business sentiment for big Japanese manufacturers, which put the ...
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U.S. Jobs Report, Manufacturing, Services Data and FOMC Meeting Minutes, All In One Week!
After rocking the dance floor in the first three months of the year, the world's largest economy is stomping into the second quarter, starting April with the latest manufacturing and services data besides to minutes of the Federal Reserve interest-rate adjusting open market committee’s final meeting, then paving the way for most-anticipated repot ever - The jobs report!
With the start of a new quarter, traders are still concerned about the prospects of the global economic growth and whether the largest economies will be able to at least sustain an even economic recovery amid the unending financial and debt crisis the world has been facing in the past decade. Eyes are still focused on news from Europe and further progress in bottling up the region's sovereign debt crisis.
Mostly positive ...
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Weekly Economic and Financial Commentary : 30/03/2012
Weekly Economic and Financial Commentary : 30/03/2012
U.S. Review
Mixed Signals
Housing data released this week were a bit disappointing but also offered some signs of optimism. Pending home sales fell in February but remained near a one-year high. The decline in the S&P Case-Shiller Home Price Index in January was the smallest since July, although the index did reach a new cyclical low.
Personal spending rose in February by the most since July, as consumers dipped into savings to spend more on services. However, consumer confidence slipped in March due to a decline in the expectations index amid rising gas prices, although purchase plans improved.
Mixed Signals
Housing data released this week were slightly disappointing but also provided some signs of optimism. Pending home ...
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The Weekly Bottom Line : 30/03/2012
The Weekly Bottom Line : 30/03/2012
HIGHLIGHTS OF THE WEEK
United States
February's personal income and spending report revealed some mixed signals about the U.S. economy. Real after-tax incomes declined 0.1%, but real consumer spending managed an impressive 0.5% increase.
Even after this solid spending gain, Q1 GDP growth is tracking close to 2%, and growth is unlikely to breakout above the 3% range until the end of 2013. This leaves questions about whether the recent pace of improvement in the job market can be sustained.
In a highly publicized speech this week, Bernanke emphasized this theme and made it clear that the Fed is focused on jobs, and stands ready to act if conditions worsen.
Canada
Equity markets ended the quarter strongly with the S&P/TSX Composite ...
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FOMC Minutes and US Labour Market in Focus
The Week Ahead
Highlights
FOMC minutes and US labour market in focus
More QE for the UK
Spain and other sovereign concerns
RBA to hold for now
Market Moves
FOMC minutes and US labour market in focus
The past week has seen a multitude of Fed speakers express their views on the economic outlook and monetary policy. Voting members Bernanke, Lacker, Lockhart, Duke, and Dudley all delivered speeches as well as non-voters Plosser, Fisher, and Rosengren. The main focus was on Chairman Bernanke who reiterated his concern that the economic recovery is "slower than we would have hoped" and that "the job market remains far from normal". The Fed Chairman noted the benefits of continued accommodation and kept open the option for further easing. Markets will look to the release ...
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No Forgiveness For Spain
Last week, important fractures started to appear surrounding the global economy with a poor set of PMI releases. The focus this week is likely to be on familiar territory as the Euro-zone crisis is set to re-ignite with a vengeance and the Euro set to be damaged again by contagion fears. Principal attention will be on Spain as the prescribed orthodoxy of the European elite clashes with harsh economic and social reality. In response, Euro leaders will re-double their efforts to strengthen the firewall as the stakes and capital flows involved continue to increase. Germany again appears to have capitulated and moved back from the line in the sand over combining the EFSF and ESM funds, severely testing German popular support. If the defences are breached this time around, there will be very ...
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Noticeable confidence is spread this week in the superpower
This week like many other boosted the confidence of the Americans regarding their country's economical health this past and also coming period since growth remain spotted at a cheerful moderate pace along with further steady business conditions and spending supported of course by the recent gains and improvement witnessed in the labor market regardless of the present economical global slowdown and surge in fuel prices.
If truth be told this week's growth report released by the Bureau of Economic Analysis from the U.S. Commerce Department came in exactly as projected by the market reflecting clearly that the superpower is undergoing a steady moderate recovery with of course a solid and balanced growth supported mainly by the country's constant business activities and recent improved labor ...
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