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IFX Gertrude
post May 6, 2022, 07:16 AM
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post May 6, 2022, 07:16 AM
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EUROPEAN ECONOMICS PREVIEW: GERMANY INDUSTRIAL OUTPUT DATA DUE



Industrial production data from Germany is due on Friday, headlining a light day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany's industrial production for March. Economists forecast output to fall 1.0 percent on month, reversing a 0.2 percent rise in February.

In the meantime, UK Halifax house price data is due. Prices are expected to gain 0.7 percent in April after rising 1.4 percent in March. Also, Sweden industrial production and orders are due.

At 3.00 am ET, Spain's INE is set to issue industrial output figures for March. Output growth is seen easing to 2.7 percent from 3.0 percent in February.

At 4.00 am ET, Italy's Istat publishes retail sales for March. Sales had increased 0.7 percent in February.

At 4.30 am ET, UK S&P/CIPS construction Purchasing Managers' survey data is due. Economists expect the index to fall to 58.0 in April from 59.1 in March.

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IFX Gertrude
post May 9, 2022, 04:19 AM
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post May 9, 2022, 04:19 AM
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JAPAN SERVICES SECTOR EXPANDS IN APRIL - JIBUN BANK



The services sector in Japan swung into expansion territory in April, the latest survey from Jibun Bank revealed on Monday with a services PMI score of 50.7.

That's up from 49.4 in March and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

While the lifting of remaining restrictions aided the recovery in activity, stronger growth was held back by uncertainty linked to the Ukraine war, however. Total new business, meanwhile, fell for the third time in four months in April, albeit only marginally.

Service providers commonly attributed this to weaker domestic orders amid concerns about the outbreak of war and potential spill-over effects of rising COVID-19 cases in China. Growth in markets outside Asia however, contributed to the first rise in foreign demand for the first time since last December, and at the quickest rate for two-and-a-half years.

The survey also showed that the composite index improved to 51.1 in April from 50.3 in March.

The positive reading was the second in successive months and the strongest recorded since last December. Services firms reported a renewed rise in activity, while manufacturers signaled an unchanged, moderate rate of expansion.

Aggregate new orders stagnated in April, however, amid a renewed fall at service providers and softer growth at manufacturers. As a result, weaker new business inflows eased pressure on private sector capacity and allowed firms to work through outstanding business which fell for the third time in four months.

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IFX Gertrude
post May 10, 2022, 06:38 AM
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post May 10, 2022, 06:38 AM
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EUROPEAN ECONOMICS PREVIEW: GERMANY ZEW ECONOMIC CONFIDENCE DATA DUE



Economic sentiment survey data from Germany is due on Tuesday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway releases consumer and producer prices for April. Inflation is expected to rise to 4.7 percent from 4.5 percent in March.

At 3.00 am ET, consumer prices and retail sales figures are due from the Czech Republic. Economists expect inflation to climb to 13.2 percent in April from 12.7 percent in March.

Also, unemployment from Turkey and consumer prices from Hungary are due.

At 4.00 am ET, Italy's Istat publishes industrial output figures for March. Production is forecast to fall 1.9 percent on month, reversing a 4.0 percent rise in February.

At 5.00 am ET, Germany's ZEW economic confidence survey results are due. The economic sentiment index is seen at -42.0 in May versus -41.0 in April. In the meantime, the Hellenic Statistical Authority releases Greece consumer price figures for May.

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IFX Gertrude
post May 11, 2022, 04:22 AM
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post May 11, 2022, 04:22 AM
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CHINA CONSUMER PRICES CLIMB 2.1% ON YEAR IN APRIL



Consumer prices in China were up 2.1 percent on year in April, the National Bureau of Statistics said on Wednesday.

That exceeded expectations for an increase of 1.8 percent and was up from 1.5 percent in March.

On a monthly basis, inflation rose 0.4 percent - again beating forecasts for a gain of 0.2 percent following the flat reading from the previous month.

The bureau also said that producer prices spiked 8.0 percent on year, beating expectations for a gain of 7.7 percent but slowing from the 8.3 percent increase a month earlier.

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IFX Gertrude
post May 12, 2022, 05:15 AM
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post May 12, 2022, 05:15 AM
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AUSTRALIA BUILDING APPROVALS SINK 18.5% IN MARCH



The total number of building permits issued in Australia was down a seasonally adjusted 185 percent on month in March, the Australian Bureau of Statistics said on Thursday - coming in at 15,183.

That was in line with expectations following the 42.0 percent surge in February.

On a yearly basis, permits were down 35.6 percent.

Permits for private sector houses shed 3.0 percent on month and 32.2 percent on year to 9,932, while permits issued for dwellings excluding houses tumbled 29.9 percent on month and 41.0 on year to 5,004.

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IFX Gertrude
post May 13, 2022, 07:02 AM
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post May 13, 2022, 07:02 AM
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EUROPEAN ECONOMICS PREVIEW: EUROZONE INDUSTRIAL PRODUCTION DUE



Industrial production data from eurozone is due on Friday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Norway releases GDP data for the first quarter. Mainland-Norway is expected to contract 0.5 percent sequentially, reversing the 1.4 percent rise in the fourth quarter.

At 2.45 am ET, France final consumer and harmonized prices figures are due. The statistical office is expected to confirm 4.8 percent inflation for April.

At 3.00 am ET, Spain's INE releases revised CPI & HICP data. According to flash estimate, consumer price inflation eased to 8.4 percent in April from 9.8 percent in March.

In the meantime, retail sales and industrial production data from Turkey and industrial output from Hungary are due. At 4.00 am ET, consumer price data is due from Poland.

At 5.00 am ET, Eurostat is scheduled to issue Euro area industrial production data for March. Economists forecast output to fall 2.0 percent on month, in contrast to the 0.7 percent rise in February.

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IFX Gertrude
post May 16, 2022, 07:47 AM
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post May 16, 2022, 07:47 AM
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EUROPEAN ECONOMICS PREVIEW: EU SPRING ECONOMIC FORECAST DUE



Economic forecast from the EU is due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany's wholesale prices for April. Wholesale prices had increased 22.6 percent annually in March.

In the meantime, Statistics Norway publishes foreign trade data for April.

At 3.00 am ET, the Czech Statistical Office is scheduled to release producer prices for April. Economists forecast producer price inflation to rise to 25.5 percent from 24.7 percent in March.

At 5.00 am ET, the European Commission releases 2022 Spring forecast.

Also, Eurostat releases euro area foreign trade data for March. The deficit totaled EUR 7.6 billion in February.

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IFX Gertrude
post May 17, 2022, 06:38 AM
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post May 17, 2022, 06:38 AM
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SINGAPORE EXPORTS RISE 6.4% ON YEAR IN APRIL



Singapore's non-oil domestic exports were up 6.4 percent on year in April, Enterprise Singapore said on Tuesday.

That was shy of expectations for an increase of 6.7 percent and down from 7.7 percent in March.

On a monthly basis, exports slipped 3.3 percent - also missing forecasts for a decline of 1.3 percent after falling 2.3 percent in the previous month.

NODX to Singapore's top 10 markets as a whole rose in April, mainly due to Taiwan, Malaysia and the US; though NODX to China, Hong Kong and South Korea declined.

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IFX Gertrude
post May 18, 2022, 06:55 AM
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post May 18, 2022, 06:55 AM
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JAPAN GDP SLIPS LESS THAN EXPECTED IN Q1



Japan's gross domestic product contracted an annualized 1.0 percent in the first quarter of 2022, the Cabinet Office said in Wednesday's preliminary reading.

That exceeded expectations for a decline of 1.8 percent following the downwardly revised 3.8 percent increase in the previous three months (originally 5.4 percent).

On a seasonally adjusted quarterly basis, GDP slipped 0.2 percent - but that also beat forecasts for a fall of 0.4 percent following the downwardly revised 0.9 percent gain in the three months prior.

Capital expenditure rose 0.5 percent on quarter, missing forecasts for an increase of 0.7 percent but still up from 0.4 percent in the previous quarter. External demand was down 0.4 percent on quarter.

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IFX Gertrude
post May 19, 2022, 02:25 AM
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post May 19, 2022, 02:25 AM
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JAPAN CORE MACHINE ORDERS JUMP 7.6% ON YEAR IN MARCH



The value of core machine orders in Japan was up 7.6 percent on year in March, the Cabinet Office said on Thursday - coming in at 869.5 billion yen.

That beat forecasts for an increase of 3.7 percent and was up from 4.3 percent in February.

On a seasonally adjusted monthly basis, core machine orders climbed 7.1 percent - also exceeding expectations for 3.7 percent following the 9.8 percent contraction in the previous month.

For the first quarter of 2022, core machine orders fell 3.6 percent on quarter and gained 6.1 percent on year after advancing 5.1 percent on quarter and 6.4 percent on year in the three months prior.

For the second quarter of 2022, core machine orders are seen lower by 8.1 percent on quarter and 5.6 percent on year.

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IFX Gertrude
post May 20, 2022, 06:07 AM
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post May 20, 2022, 06:07 AM
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JAPAN CONSUMER PRICES RISE 2.5% ON YEAR IN APRIL



Consumer prices in Japan were up 2.5 percent on year in April, the Ministry of Internal Affairs and Communications said on Friday.

That exceeded expectations for an increase of 2.4 percent and was up sharply from 1.2 percent in March.

Core CPI, which excludes volatile food prices, was up 2.1 percent on year - in line with expectations and up from 0.8 percent in the previous month.

On a monthly basis, overall inflation rose 0.4 percent - unchanged from the March reading.

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IFX Gertrude
post May 23, 2022, 09:13 AM
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post May 23, 2022, 09:13 AM
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AUSTRALIAN DOLLAR CLIMBS AFTER LABOR VICTORY IN FEDERAL ELECTION



The Australian dollar appreciated against its most major counterparts in the Asian session on Monday, after the country's Labor Party won the federal election held over the weekend, defeating the ruling party for the first time since 2013.

Labor Party leader Anthony Albanese was sworn in as the new Prime Minister and is set to form a majority government.

"Australians have voted for change. My government intends to implement that change in an orderly way," Albanese said in his first press conference.

Outgoing PM Scott Morrison admitted the defeat on Saturday and said that he would step down as leader of his conservative Liberal Party.

Investors cheered the election result that delivered a clear winner, helping lift the Australian stock market and the domestic currency.

Asian shares were mixed as investors focused on a rise in Covid cases in China's capital Beijing and the outlook for the global economy.

The aussie showed mixed performance against its major rivals on Friday. While it rose against the euro, it held steady against the greenback and the yen. Versus the kiwi, it fell.

The aussie was up by 1.2 percent against the greenback, touching over a 2-week high of 0.7126. The pair had finished Friday's deals at 0.7041. The aussie may face resistance around the 0.73 region, if it gains again.

The aussie added 1.1 percent to touch a 5-day high of 91.04 against the yen. The pair was valued at 90.09 when it ended trading on Friday. Further rally in the currency may challenge resistance around the 93.00 level.

The aussie firmed to over a 2-week high of 1.4885 against the euro, gaining 0.6 percent from Friday's close of 1.4980. Next near term resistance for the aussie is likely seen around the 1.45 level.

The aussie registered a gain of 0.8 percent against the loonie, reaching nearly a 2-week high of 0.9109. At Friday's close, the pair was worth 0.9040. Should the aussie strengthens further, it is likely to test resistance around the 0.92 region.

The aussie, however, dropped to nearly a 3-week low of 1.0973 against the NZ currency from last week's closing value of 1.0987. The aussie is seen facing support around the 1.075 area.

Looking ahead, German Ifo business sentiment index for May will be released in the European session.

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IFX Gertrude
post May 24, 2022, 07:21 AM
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post May 24, 2022, 07:21 AM
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JAPAN MANUFACTURING PMI SLIPS TO 53.2 IN MAY - JIBUN BANK



The manufacturing sector in Japan continued to expand in May, albeit at a slower pace, the latest survey from Jibun Bank showed on Tuesday with a manufacturing PMI score of 53.2.

That's down from 53.5 in April, although it remains above the boom-or-bust line of 50 that separates expansion from contraction.

Both output and new order growth slowed to a marginal pace that was the weakest for three months. Manufacturers commonly noted heightened supply chain pressures, as delivery times lengthened to the greatest extent since the earthquake and tsunami in April 2011, exacerbated by material shortages and renewed lockdown restrictions in China. This contributed to the third-strongest increase in input prices in the survey history.

The survey also showed that the services PMI improved to 51.7 in May from 50.7 in April, while the composite PMI rose to 51.4 from 51.1.

The easing of pandemic-related restrictions and the diminishing impact of the virus were cited as key reasons for the uplift, notably in the tourism sector. Concurrently, the level of new business received returned to expansion territory, and at the quickest rate since last December. That said, firms continued to face sharp rises in input prices, with the latest increase the steepest in the survey history.

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IFX Gertrude
post May 25, 2022, 07:21 AM
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post May 25, 2022, 07:21 AM
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NEW ZEALAND RATE DECISION ON TAP FOR WEDNESDAY



The Reserve Bank of New Zealand will wrap up its monetary policy meeting on Wednesday and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity.

The RBNZ is widely expected to boost its Official Cash Rate by 50 basis points, from 1.50 percent to 2.00 percent.

Singapore will release final Q1 figures for gross domestic product, with forecasts suggesting an increase of 0.8 percent on quarter and 3.7 percent on year - slowing from 2.3 percent on quarter and 6.1 percent on year in the previous three months. Singapore also will see Q1 data for current account; in the previous three months, the surplus was SGD25.72 billion.

Australia will provide Q1 numbers for construction work done, with forecasts suggesting an increase of 1.0 percent on quarter following the 0.4 percent contraction in the previous three months.

Japan will see final March figures for its leading and coincident economic indexes; in February, their scores were 100.1 and 96.8, respectively.

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