Japan Weekahead: Producer Inflation Easing Further below 3%, Q2 GDP to Post Slight Rebound, Confirming Resilience Against Drag from Tariffs, High Costs of Living
By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week when many people take some time off for the annual Obon holiday around Aug. 15 to bring in and send back their ancestors’ sprits. It is not a public holiday and markets will stay open but trading volumes are […]
ISM: US Services Sector Slows on Weak Demand, Soft Hiring and Rising Costs as Tariffs Begin to Bite
–ISM Services Index 50.1 Vs. 50.8 in June, 49.9 in May, Below Consensus 51.5–ISM’s Miller: Employment Index’s Continued Contraction, Faster Rise in Prices Index Worrisome–Miller: Expansion in Business Activity, New Orders Indexes Highlight Resilience of Services Sector–Miller: Firms Wary of Impact of an Expected Fed Rate Cut as Inflation Remains High By Max Sato (MaceNews) […]
Preview: Japan Q2 GDP to Post Only Slight Growth after 1st Contraction in 4 Quarters in Q1 as Fear of Trump Tariff Fallout Peaks
By Max Sato (MaceNews) – Japan’s gross domestic product is forecast to be nearly flat, up just 0.1% on quarter, or an annualized 0.4%, in the April-June quarter, at the peak of the fear that the protectionist U.S. trade policy could plunge the global economy into a tailspin. The forecasts range from a 0.1% drop […]
Japan Weekahead: Real Wages Continue Falling, Household Spending to Show Sluggish but Resilient Consumption Ahead of Expected Slight Q2 GDP Rise
By Max Sato (MaceNews) – Here are the key Japanese economic events for the coming week. Following the widely expected no change in the Bank of Japan’s policy stance last week, demand side data is expected to show lackluster but somewhat resilient consumer spending. Economists didn’t wait to see June and second quarter household spending […]
US TARIFFS STATE OF PLAY: New Reciprocal Tariffs Don’t Dispel Uncertainty, Confusion
–Trump Fires Head of the Bureau of Labor Statistics because of alleged manipulation By Denny Gulino WASHINGTON (MaceNews) – With new reciprocal levies raising America’s average tariff rate to above 18% and the latest jobs and ISM reports raising stagflation fears, the overall era of uncertainty seems to have intensified, not diminished. The environment of […]
US ISM Manufacturing Falls Deeper into Contraction amid Slow New Orders, Still Fragile Output, More Job Cuts, Elevated Costs
–ISM Manufacturing Index at 9-Month Low of 48.0 vs. 49.0 in June, Consensus 49.5–ISM CEO Derry: Despite Wall Street Pricing in Imminent Rate Relief, Manufacturers Need to See Actual Cut Before Resuming Capex By Max Sato (MaceNews) – U.S. manufacturing activity was in contraction for the fifth straight month in July as President Trump’s idea […]
US TARIFFS STATE OF PLAY: EU Signs On; China, Not Yet; Tariff Regime Fragile As Most of the Transition Lies Ahead
By Denny Gulino WASHINGTON (MaceNews) – Thursday’s 10a ET oral arguments in the U.S. Court of Appeals for the Federal Circuit is one of the several legal challenges of President Trump’s “reciprocal tariffs,” a stark reminder that much of the entire U.S. tariff regime could suddenly collapse, requiring the refund of all the billions of […]
Bank of Canada Pauses for 3rd Straight Meeting amid Sticky Core Inflation, Resilient Economy and Uncertain Trade Row Impact on Growth, Prices
–BOC Keeps Policy Rate at Roughly Neutral 2.75% After 7 Rate Cuts Totaling 225 Basis Points from June 2024 Until March 2025BOC: May Need a Rate Cut If Slower Growth, Easing Trade Friction Lead to More Controlled Inflation–Governor Macklem: Still Proceeding Carefully, Hard to Be as Forward-Looking as Normal–Mackem: Taking Policy Decision One Meeting at […]
Preview: Bank of Canada Set to Pause for 3rd Straight Meeting amid Sticky Core Inflation, Uncertainty over US Trade Row Impact on Growth, Costs
–BOC Widely Expected to Keep Policy Rate at 2.75% Wednesday After 7 Rate Cuts Totaling 225 Basis Points from June 2024 Until March 2025–Focus is on Whether Bank will Continue to ‘Proceed Carefully’ and Remain ‘Less Forward-Looking Than Usual’ By Max Sato (MaceNews) – The Bank of Canada is widely expected to maintain its policy […]
Japan Expects Gradual Economic Recovery in Light of Trade Accord with US but Warns Drag from Trump Tariffs Still Needs Close Watch
By Max Sato (MaceNews) – Japan’s government is looking at the bright side of trade rows in the wake of a bilateral deal with the Trump administration, sticking to its long-held conviction that the economy is expected stay on a “modest recovery” track but also warned that uncertainty remains. In its monthly report for July […]