Canada Chart Pack Slump in exports another devastating blow The big news in the last month has been a sharp move up in exchange stocks of copper and a renewed slump in tin inventories. However, the bigger picture is that exchange stocks of metals have not... 30th August 2016 · 1 min read
Africa Chart Pack Africa: Policy risks cast shadow over fragile economies Official data released over the past month mostly suggested that African economies improved a touch, but a series of political shocks has hit investor confidence. The most high-profile of these as... 30th August 2016 · 1 min read
Latin America Economics Update Currencies take Yellen comments in their stride Currencies in Latin America have edged down against the dollar since Fed Chair Janet Yellen left the door open to a hike in US interest rates this year in her Jackson Hole speech, but the moves have... 30th August 2016 · 1 min read
US Data Response Conference Board Consumer Confidence (Aug. 16) The rise in the Conference Board measure of consumer confidence to an 11-month high of 101.1 in August, from 96.7 leaves the index at a healthy level and suggests that real consumption growth will... 30th August 2016 · 1 min read
Industrial Metals Update Higher zinc prices could prove self-defeating The zinc market has tightened sharply this year mostly owing to mine closures and production cutbacks. While we expect the market to move deeper into deficit next year, we think that there is an... 30th August 2016 · 1 min read
US Housing Market Data Response Case-Shiller House Prices (Jun. 16) At the national level, house prices rose only modestly in June according to Case-Shiller. But, with market conditions tightening, we suspect gains will accelerate from here and for now see no reason... 30th August 2016 · 1 min read
Global Markets Update Are record “shorts” a new threat to sterling? Non-commercial participants, sometimes described as “speculators”, are now running a record number of short positions in the pound against the dollar, according to US data. However, this alone does... 30th August 2016 · 1 min read
Latin America Data Response Chile Retail Sales, Ind. Prod. & Copper Prod. (Jul.) July’s activity data were slightly better than the dire outturns in May and June, but,on balance, they still suggest the economy remained weak at the start of Q3. 30th August 2016 · 1 min read
Asia Economics Update Sri Lanka holds rates, but further tightening still likely The central bank in Sri Lanka (CBSL) today left interest rates on hold despite a continued acceleration in credit growth, high inflation and a weak currency. We think another interest rate hike is... 30th August 2016 · 1 min read
Europe Data Response German Flash CPI (Aug.) August’s slowdown in German inflation was weaker than most forecasters had expected last week, but was broadly consistent with the state-level data released this morning. While inflation should pick... 30th August 2016 · 1 min read
UK Economics Update Household Borrowing Monitor (Jul.) July’s household borrowing figures highlighted that the housing market continued to cool following the EU referendum and there were signs that consumers’ appetite for debt took a bit of a hit as well... 30th August 2016 · 1 min read
UK Housing Market Data Response Mortgage Lending (Jul. 16) Mortgage lending cooled in July, as the referendum hurt buyer confidence. Uncertainty has lifted somewhat since. But buyers will stay cautious as the economic backdrop softens, helping to keep lending... 30th August 2016 · 1 min read
Emerging Markets Activity Monitor Recovery resumes Our EM GDP Tracker suggests that, after a brief pause in May, the recovery in EM growth resumed in June. The latest improvement has been driven by a pick-up in activity in Emerging Asia and Latin... 30th August 2016 · 1 min read
Japan Economics Update Why is wage growth not picking up? The tight labour market in Japan is delivering pay increases for younger workers willing to move jobs, but a low level of labour market mobility and a rising share of older workers, for whom pay rises... 30th August 2016 · 1 min read
Europe Data Response EC Business & Consumer Survey (Aug.) August’s euro-zone Business and Consumer Survey suggests that growth has slowed and inflation expectations are weak. So the ECB will be under pressure to loosen monetary policy further at its meeting... 30th August 2016 · 1 min read
