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Australian consumer confidence rebounds strongly in September
Fundamentals today showed consumer confidence in Australia rose from a tw-year low, adding to clear signs of recovery in the Australian economy. Rising consumer confidence came alongside improvements in the services industry that increased for the first time in more than four months during August, as the government has supported the economic recovery, led by growth in finance, communication and the recreation life.
The Australian Westpac consumer confidence witnessed improved in September, which soared by 8.5%, compared with a previous drop by -3.5% in August.
On the other hand, the Australian economic recovery moves into a narrow channel during the time as the nations is still suffering from first half natural disasters, along with the European debt crisis and the sluggish US economy ...
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This Week's US Macro Reports Key to FOMC's Decision On More QE
This Week's US Macro Reports Key to FOMC's Decision On More QE
While we have begun this week with a heavy risk off environment - mainly based on the European financial sector and the latest developments in the euro zone sovereign debt crisis - for US equities and the fate of further Fed stimulus will rely on what the macro data from the US tells us.
Can Manufacturing Sector Rebound Heading into 4th Quarter
For the US, this week will feature 3 key manufacturing reports, including a look at both leading and coincident indicators for the sector. The three reports are the Empire manufacturing index, the Philadelphia Fed index, and industrial production - all coming out on Thursday.
The prognosis is mainly a downbeat one, as both the Empire and Philly fed index is are expected to continue ...
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The Weekly Bottom Line : 12/09/2011
The Weekly Bottom Line : 12/09/2011
HIGHLIGHTS OF THE WEEK
United States
Policymakers took the floor this week. The main highlight was President Obama’s speech to Congress in which he announced a $450 billion stimulus package aimed at the struggling job market.
The President’s plan is composed of a mix of tax cuts and spending initiatives. The biggest item is a reduction in the payroll tax rate for employees and employers and a payroll tax holiday for employers adding additional workers. Spending priorities are focused on infrastructure and funding to state and local governments to prevent further layoffs.
Should the plan be passed (and this is all but certain) it will provide a modest lift to economic growth over the next year. Nonetheless, the biggest drags on U.S. growth ...
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UK Jobless Rise to Rattle MPC
Economic Data Analysis
UK Jobless Rise to Rattle MPC
Policy moves from the SNB and White House put spotlight on global support measures, despite no change from the ECB or BoE.
The G7 meet this weekend. Coordinated action remains unlikely at this stage.
Euro area developments continue to dominate - all eyes on Thursday's EU finance ministers meeting
The UK claimant count for August could post a surprise - we look for a rise of 50k.
A week of key policy decisions has seen risk sentiment improve a little. The passage of the Italian Budget through parliament allowed the ECB to resume supportive BTP purchases, relieving some of the market tension. Meanwhile, the Swiss National Bank's (SNB) decision to intervene to cap the Swiss Franc, and President Obama's proposed $447bn ...
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U.S services activities growth have most probably narrowed last month
After yesterday's celebration of the "labor Day" more gloomy data is highly forecasted to be released from the world's leading economy as the current economical conjuncture remains weak and the revival that is taking place gradually has unfortunately slowed down as we know throughout this past period with unending high crucial jobless levels still weighing down on overall activities along with a depressed housing sector, corroded confidence and weaker global demand and conditions.
Accordingly later on today the ISM services of last month; a composite diffusion index regarding the services sector conditions across the United States, will most probably come out gloomy around 51.0 from a prior reading of 52.7, which will actually be the slowest pace witnessed by the country's services ...
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The Australian economy shows optimistic signs for the fourth quarter
The Australian economy has started its cheerful phase after the services industry index rebounded for the first time in more than four months during August, as the government has supported the economic recovery, led by growth in finance, communication and the recreation.
Australian services rose as the mining sector rebounded, which is expanding to meet Chinese demand for raw materials, helping the labor market hire more workers.
Moreover, the Australian business profits soared by more than double expectations during the second quarter through June, as the mining industry and utility companies benefited from stronger prices.
Today's report showed that the Australian economy is on the trach of recovery before the end of the year, while the government is to introduce more of stimulus ...
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Spanish Sponsors Forex Expos Doves in The Ascendancy
Economic Data Analysis
Doves in The Ascendancy
Weak US payrolls put global risk sentiment back on the defensive
Global manufacturing stagnates, but the coming week's services data could be stronger
A busy week for policy makers as markets seek guidance on what comes next
In the absence of any major geopolitical upsets, global risk assets spent much of the week clawing back some of their August losses - only to be undone by the release of a much weakerthan- expected US jobs report on Friday. The continuing sharp swings in sentiment underline just how febrile market sentiment remains, with ongoing uncertainties about global growth prospects and the EU sovereign debt crisis continuing to unsettle.
A raft of manufacturing surveys this week pointed to an ongoing stagnation in ...
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Weekly Economic and Financial Commentary : 02/09/2011
Weekly Economic and Financial Commentary
U.S. Review
Recession Fears Rise Again
Today, markets received a gut-wrenching August payroll report, ratcheting up recession fears again. There were zero net nonfarm payroll jobs created in August with 58,000 fewer net jobs created during July and June. More troubling for people who still have jobs, average hourly earnings and weekly hours both contracted.
Yet, the week started on a bright note, personal spending for July surprised on the upside, suggesting that economic growth was motoring ahead, when it was hit by the equity market declines and the shock to business and consumer confidence in August.
Is the Glass Half Full or Half Empty?
Fears of recession increased on Friday as the BLS reported that August nonfarm payrolls did not ...
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The Weekly Bottom Line : 02/09/2011
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
Markets were eagerly tuned into the data this week to assess the impact of falling confidence on the economic recovery.
The first hard data release of the month revealed that the U.S. economy created no new jobs during August. While this number is slightly better when we account for the impact of striking workers and exclude ongoing declines in public sector employment, it hardly inspires confidence in the U.S. economy.
Manufacturing activity also softened in August. While the ISM Manufacturing survey signals the sector continues to grow, falling orders and production tell a different story.
Canada
Data were released showing Canada's economy contracted in the second quarter of this year, but came as no ...
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