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New Zealand’s retail sales fall the most in three years
New Zealand’s economy witnessed an unexpected fall in its retail sales during the first quarter of the year, where the fall was caused by the slump in grocery stores purchases, increasing the expectations for an extended period of low interest rates during the upcoming months.
New Zealand’s economy released its retail sales excluding inflation which fell to -1.5% during this year’s first quarter, compared with a previous reading of 2.2% revised to 1.8%, while expectations were of -0.5%
Today’s fall is considered the biggest in three years, then it was followed by a surge in sales during the second half of 2011 supported by the Rugby World Cup that rebounded tourism in the nation.
Supermarket and grocery stores sales that make up a quarter of the total, slumped by 7.4% which is ...
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YouTradeFX Daily Market Analysis : 10/05/2012
Fundamental News
Today’s highlights:
- ECB Monthly Report (EUR, 09:00 GMT)
- Italian Industrial Production (MoM) (ITA, 09:00 GMT)
- Trade Balance +Manufacturing Production (MoM)+ Industrial Production (MoM) (GB, 09:30 GMT)
- Interest Rate Decision (GB, 12:00 GMT)
- Initial Jobless Claims + Trade Balance (U.S, 13:30 GMT)
- Trade Balance (CAD, 13:30 GMT)
- Fed Chairman Bernanke Speaks (U.S, 14:30 GMT)
Wholesale inventories in the U.S. rose by 0.3% (less than expected) in the month of March, according to a report released by the Commerce Department on Wednesday. Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized, the National Association of Realtors said in a report yesterday.
According to Bloomberg ...
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Job-creating foreign investment in U.S. lags
(Reuters) - Foreign investment in the United States is ebbing and beefing it up is critical for economic growth as each job at a foreign company's U.S. unit supports three others, the Organization for International Investment said on Thursday.
A complex U.S. tax code and increasing global competition are curbing business development here by foreign companies. That trend is worrisome because foreign firms generally pay salaries to U.S. workers that exceed the industry average. This type of foreign investment, in turn, drives up employment and consumer spending.
"The global investment pie around the world has been getting larger, but our slice of that pie has been getting smaller as well as the share of GDP that foreign investment in the U.S. represents," Nancy McLernon, president and ...
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Euro on the edge as political risk mounts
(Reuters) - The euro fell close to a recent three-month low on Wednesday and was set for further falls on worries that Greek political uncertainty and a French leadership change may undermine the euro zone's austerity measures.
The euro remained under pressure after the leader of Greece's Left Coalition party said on Tuesday that the country's commitment to a European Union/International Monetary Fund rescue deal had become null and void.
Greece's two main pro-bailout parties failed to win a majority in weekend elections, leaving questions over the country's ability to avert bankruptcy and stay in the euro.
Added to instability in Greece, French President-elect Francois Hollande has advocated an approach to tackling the debt crisis centered more on growth, which may create tensions with ...
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Euro falls as political risks weigh, nears 3-month low
(Reuters) - The euro fell close to a recent three-month low on Wednesday, on worries that political uncertainty in Greece and a French leadership change may undermine austerity plans key to tackling the euro zone's debt crisis.
The euro remained under pressure after the leader of Greece's Left Coalition party said on Tuesday that the country's commitment to a European Union/International Monetary Fund rescue deal had become null and void.
Greece's two main pro-bailout parties failed to win a majority in weekend elections, leaving questions over the country's ability to avert bankruptcy and stay in the euro.
"One issue is whether this will cause investors to shun risk globally, or be viewed as the euro's problem alone and just lead to weakness in the euro," said Koji Fukaya, director of ...
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Copper hits 2-week low on euro, Greek political uncertainty
Copper fell to a two-week low on Tuesday, pressured by a weak euro following political uncertainty in Greece which reignited fears about the euro zone debt crisis and raised worries about the demand outlook for industrial metals.
Investors are also cautious ahead of China economic data due this week, including numbers on import growth, inflation and bank lending.
Three-month copper on the London Metal Exchange (LME) fell to $8,059.50 a metric ton (1.1023 tons) at 1458 GMT, down 1.4 percent from Friday's close of $8,175 a metric ton. The exchange was closed on Monday for a bank holiday.
The metal used in power and construction earlier fell to its lowest level since April 24 at $8,057 a metric ton.
The euro extended losses against the dollar as Leftist Alexis Tsipras began efforts to ...
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The Weekly Bottom Line : 04/05/2012
The Weekly Bottom Line
HIGHLIGHTS OF THE WEEK
United States
- U.S. job creation may have weakened in the last few months, but the grounds for sustaining stronger employment growth are more fertile now than have been since the economic recovery began. Europe's labor market, by contrast, is likely to deteriorate further before it gets better.
- Europe's (nonfinancial) corporate sector is highly leveraged. As balance sheet adjustments are made, Europe risks further decreases in investment, higher layoffs, and lower economic growth. These effects are compounded by deleveraging in the public sector.
- U.S. corporations, by contrast, are more profitable and liquid than they have ever been. At some point some of these funds will be unleashed towards new investment, creating a positive ...
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When Will Volatility Pick Up
The Week Ahead
Highlights
When will volatility pick up
Digesting payrolls
Will there be more QE for the UK?
Data Watch
When will volatility pick up?
Volatility in US Treasuries is at its lowest level since 2007, so too is volatility in the FX options market for short-term EURUSD products and the Vix has fallen sharply since peaking in autumn 2011. Yet Europe's sovereign stresses remain as strong as ever, Spain and Italy are struggling to sell their sovereign debt to anyone bar their domestic banking sectors and election risks are enormous as Greece and France go to the polls on Sunday.
So why is volatility so low? The answer lies with central banks and fairly tight FX ranges. When central banks come in and pledge that interest rates will remain extremely low until 2014, ...
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Employment: Cyclical Gain, Structural Problems Persist
April employment rose 115,000, with the unemployment rate down to 8.1 percent, driven by a drop in the labor force participation rate. With subpar job gains, structural issues further complicate the outlook.
Employment Growth: Subpar Consistent with Moderate Growth
Employment was up 115,000 in April, with gains in many sectors, e.g., manufacturing, education and health and business services, as illustrated in the top graph. Weakness in construction and government did contribute to the smaller-than-expected gain, but the payback for favorable seasonal adjustment factors earlier this year appears to have affected the data. Over the past three months, the average gain in jobs has been 176,000, with private sector jobs averaging 183,000. Manufacturing gains over the past three months have ...
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