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  • Squawk / 23 minutes ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    Spanish GDP confirmed at 0.9% while retail sales hit 4%:

    The Spanish economy accelerated in Q1, according to the final GDP report, which confirmed the initial estimate of 0.9% q/q. This comes on the back of a 0.7% print in Q4'14 and implies an annual growth rate of 2.7% - by far the highest of the 'big 4' in the euro area (EA).

    Household spending growth remained strong in Q1 at 0.7% albeit that was somewhat lower than Q4's 0.9%. Government consumption rose 1.6% after a -1% print a quarter earlier while investment climbed 1.3%. Exports and imports rose 1% and 0.8% respectively.

    In another report we learned that retail sales rose by 4% y/y through April. This was well above expectations of 2.6% and up from March's 2.8%.

    The outlook for Spain remains positive and I expect the economy to continue to outperform the other major countries of the EA. Elections remain a key downside risk, however. I look for full-year growth of 3% (vs. 1.4% in 2014)
    Read the Squawk
  • Calendar event / 41 minutes ago

    ES Final GDP

    forecast
    actual
    Med Qtrly % Chg
    +0.9%
    +0.9%
    Med Yrly % Chg
    +2.6%
    +2.7%
  • Calendar event / 1 hour ago

    CH Trade Balance

    forecast
    actual
    Med Foreign Trade Imports YoY
    -0.7%
    Med Foreign Trade Exports YoY
    -1.3%
    Low Foreign Trade Exports
    16.3B
    Low Foreign Trade Balance
    2.9B
    Low Foreign Trade Imports
    13.4B
    1d
    abralers abralers
    This comment has been redacted
  • Article / 2 hours ago

    3 Numbers: Eurozone business sentiment stumbles, US jobless, US homes

    editor/analyst / CapitalSpectator.com
    United States
    3 Numbers: Eurozone business sentiment stumbles, US jobless, US homes
    Any signs of slower growth is a risk factor for Europe and if today's Eurozone business sentiment shows a fall, it will be a timely reminder that Europe's recovery will be gradual. Meanwhile, across the Atlantic, expectations are for an upbeat outlook in today's jobless claims data, while the recent strength in pending home sales is set to continue.
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  • Article / 3 hours ago

    US dollar rally readies for Friday’s data test

    Managing Director / Technical Research Limited
    New Zealand
    US dollar rally readies for Friday’s data test
    The US dollar bull market appears to have resumed its uptrend, although it will have a hurdle to jump over tomorrow with the GDP revision, which is expected to be negative. Close attention also needs to be paid to tomorrow's inflation numbers from Japan. Surprises in either of these data releases have the potential to cause a decent move.
    Read the article
  • Editor’s Picks / 5 hours ago

    Australia's capex lower than expected

    Sydney Morning Herald
    Australia's transition away from a dependence on mining-related investment remains sluggish, according to the latest quarterly capital expenditure survey by the Australian Bureau of Statistics. The Sydney Morning Herald's Mark Mulligan writes that March-quarter investment fell 4.4%, seasonally adjusted, from the previous three months, and 5.3% on the year. The fall was steeper than expected, and the AUD immediately dropped more than three-quarters of a US cent, to 76.86¢, as traders bet the Reserve Bank of Australia would have to cut rates further to stimulate non-mining investment.
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  • Editor’s Picks / 5 hours ago

    BoJ governor dismisses asset bubble concerns

    CNBC
    Bank of Japan Governor Haruhiko Kuroda doesn't believe a bubble is brewing nor is he worried about where the yen is headed, despite Tokyo stocks being at 15-year highs and the yen at eight-year lows. CNBC's Mia Tahara-Stubbs writes Kuroda doesn't think there is any asset bubble or stock market bubble, but says "we will continue to monitor carefully". Kuroda has pursued an unprecedented monetary easing program since April 2013, which has triggered a stock market rally. The Nikkei opened at a fresh 15-year high on Thursday morning.
    Read article on CNBC
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  • Article / 7 hours ago

    Today's Trade: Attention focused on private capex release

    Trading Desk / Saxo Capital Markets
    Australia
    Today's Trade: Attention focused on private capex release
    The local market opened higher in early trading with the ASX 200 up 8 points to 5733 in the first 20 minutes. The strength is partly attributed to the rebound on international markets following the news that Greece was drafting an agreement with its creditors. Meanwhile, today's private capital expenditure numbers are expected to have a significant impact on the near-term direction of AUDUSD.
    Read the article
  • Editor’s Picks / Yesterday at 23:54 GMT

    More than one-third of US workers want longer hours: Fed report

    Bloomberg
    A large percentage of Americans want to work longer hours even without a raise, according to the Federal Reserve's report on the economic well-being of US households. Victoria Stilwell writes for Bloomberg that the Fed asked non-self-employed workers whether they'd prefer to work more, less, or the same amount that they now work if their hourly wage was unchanged. Of the respondents, 36% said they'd prefer to work more hours at their current wage. Among those who work part time, the share is even higher at 49%. The goal of the question was to help gauge the amount of underemployment in the economy, according to the report.
    Read article on Bloomberg
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