Australia & New Zealand Data Response Australia Current Account & Government Finances (Q3) The latest data on net exports and government spending/investment suggest that GDP growth in the third quarter was a little bit stronger than we thought at around 0.9% q/q. This supports the... 1st December 2015 · 1 min read
Japan Data Response Capital Expenditure (Q3) The strong rebound in capital spending excluding software last quarter suggests that GDP may have been flat last quarter instead of shrinking slightly as initially estimated. 1st December 2015 · 1 min read
Nordic & Swiss Data Response Swiss GDP (Q3 15) The Swiss GDP release revealed that growth stalled in Q3 and November’s manufacturing PMI points to worse to come. This raises the likelihood that the Swiss National Bank (SNB) will increase its... 1st December 2015 · 1 min read
China Economics Update Renminbi joining SDR basket won't increase demand The IMF has just confirmed that the renminbi will be added to its SDR basket. Thismay be of symbolic significance to some but we think it will make hardly anydifference to currency demand. In other... 30th November 2015 · 1 min read
Latin America Chart Pack Argentina: Macri’s economic team takes shape The election of Mauricio Macri , the reformist candidate in Argentina’s presidential election, has transformed the country’s economic outlook. The result was largely anticipated – markets had jumped... 30th November 2015 · 1 min read
Global Economics Update Monetary conditions to remain loose in 2016 The broad money supply is growing steadily and the growth of credit to nonfinancial companies has been recovering in recent months. With bond yields still very low and several central banks likely to... 30th November 2015 · 1 min read
US Housing Market Focus Is the housing market heading for a slowdown or another boom? It is not out of the question that the coming rise in interest rates will derail the housing market recovery. Equally, however, it is plausible that a surge of pent-up demand, combined with low... 30th November 2015 · 1 min read
Energy Update Stronger economic growth to support oil demand A pick up in global growth over the next few years, especially in major oil consuming countries, should help demand for oil to remain strong rather than tail off. This in turn should support oil... 30th November 2015 · 1 min read
Asia Economics Update No sense of panic as Fed hike approaches Asian financial markets have held up well over the past month despite a renewed slump in China’s equity market at the end of last week and growing expectations of a December Fed rate hike. 30th November 2015 · 1 min read
Industrial Metals Update More supply cuts, but are they enough? China’s metal refiners have been announcing output cuts in 2016. Although Chinese producers have a poor record on curtailing production, we think a combination of reduced raw material supply and... 30th November 2015 · 1 min read
Europe Data Response German Flash CPI (Nov.) November’s small rise in German HICP inflation appears to have reflected energy effects. With the core rate still very subdued, there is nothing here to put the ECB off increasing its policy support... 30th November 2015 · 1 min read
India Data Response GDP (Q3) GDP figures for Q3 suggest that India was the world's fastest-growing major economy last quarter. But the official data remain inconsistent with numerous other indicators which suggest the economy is... 30th November 2015 · 1 min read
Latin America Data Response Chile Retail Sales, Ind. Prod. & Copper Prod. (Oct.) Weaker Chilean activity data for October underscore the gradual nature of the economic recovery. Nonetheless, it too early to worry about a renewed slowdown in GDP growth in Q4. 30th November 2015 · 1 min read
UK Economics Update Household Borrowing Monitor (Oct.) Household borrowing figures for October demonstrated that households continue to drive the UK recovery. While the figures probably don’t have any implications for the interest rate outlook, they may... 30th November 2015 · 1 min read
Commodities Update Five factors that could shape grain & soybean prices in 2016 2015 has seen the prices of corn, wheat and soybeans fall sharply, dragged lower by a combination of large harvests, rising global inventories and weak currencies in a number of key producing and... 30th November 2015 · 1 min read
