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The euro area housing market is extremely diverse; in terms of housing markets,it comes across as independent economies rather than a single market.At the one end, the German housing market is warming...
The US employment report was close enough to consensus to not shed fresh light on the Fed's tapering debate. The unwinding of positions that characterized yesterday's high volatile session is...
Market movers todayThe main market mover on Friday was the labour market report in the U.S.. We have scaled down our forecast for non-farm payrolls from 190k to 180k, given the drop in the employment...
Market Drivers June 07, 2013AUD/USD remains on back foot in AsiaUSD/JPY seesaw with Nikkei ahead of NFPNikkei -0.21% Europe 0.37%Oil $95/bblGold $1410/oz.Europe And AsiaAUD AiG Performance of...
How can consumer spending in the U.S. economy rise under these circumstances? In the first quarter of 2013, hourly compensation of Americans employed in non-farm businesses fell 3.8%. This was the...
It is remarkable just how much faith the markets are placing in the eurozone's stability these days. This is especially surprising given that less than a year ago we were staring at the collapsing...
EUR/USD Today’s support: - 1.3185 and 1.3148(main), where correction is possible. Break would give 1.3118, where correction also may be. Then follows 1.3083. Break of the latter would result in...
The May job report showed 175,000 in job gains in May, and a small downward revision leaves the three-month average at 155,000. This is consistent with some slowing in GDP growth in Q2, but is still...
At its June meeting, the ECB left key policy rate unchanged. The Bank did not close the doors to further actions. However, we had the impression that in the absence of further deterioration, the ECB...
Following the marked increase (+1.8% m/m) for March, industrial output jumped in April, also up +1.8% m/m. In particular, output in construction bounced back markedly (+6.7%), in line with the end of...
The revival of the labor market is confirmed from one report to the other. In May, everything points to strength: even the 0.1 pt increase in the employment rate is no bad news, as it comes from a...
On Thursday, the International Monetary Fund (IMF) published an ex-post evaluation of the first adjustment programme (Stand-by Arrangement or SBA) implemented in Greece between May 2010 and March...
In May, confidence declined in the manufacturing sector but improved in the non-manufacturing sector. This difference is all the more surprising that international trade remains a factor of support,...
At its June meeting, the ECB left key policy rate unchanged. The refi rate remains, thus, at its historical low of 0.5% and the deposit facility rate at 0%.The Bank did not close the doors to further...
The yen surged broadly overnight Thursday, while the dollar tumbled and U.S. treasury yield dropped sharply. The 10 year yield dived to as low as 1.999% before closing at 2.075%. The yen maintained...