DATA FLASH: US JUNE CONFIDENCE UP; COVID REBOUND COULD HIT JULY
By Kevin Kastner WASHINGTON (MaceNews) – The Conference Board’s U.S. consumer confidence index rose solidly to a reading of 98.1 in June from a downward revised 85.9 reading in May, but a resurgence of COVID-19 cases at the end of the month and the dwindling effects of the stimulus payments suggest another increase in July […]
EUROZONE ECONOMIC SENTIMENT ROSE BY RECORD AMOUNT IN JUNE
ZURICH (MaceNews) – Economic sentiment in the countries sharing the euro increased by a record amount in June, extending the turnaround which started in May, with employment expectations also increasing, the European Commission reported Monday. Economic sentiment improved to 75.7 in the euro area, rising 8.2 points, which is the largest monthly increase on record, […]
DATA PREVIEW: WILL EMPLOYMENT REPORT PROVIDE EARLY FIREWORKS?
By Kevin Kastner WASHINGTON (MaceNews) – Before the Fourth of July holiday, there are plenty of opportunities for the June U.S. data to create further buzz after a partial recovery in May. The employment report released Thursday – early because of the pending holiday – is undoubtedly the highlight of the week ahead of Friday’s […]
DATA FLASH: US MAY PERSONAL INCOME SLOWS, SPENDING SOARS
–US May Personal Income -4.2% After Stimulus-Led Surge in April–Savings Rate 23.2%, Nominal PCE +8.2%, Real PCE +8.1%, Core +0.1%–June Michigan Sentiment Revised Down to 78.1, Still Up From 72.3 in May By Kevin Kastner WASHINGTON (MaceNews) – Personal income fell in May after a large runup in April on government stimulus payments, while spending […]
DATA FLASH: US INITIAL CLAIMS SLOW; DURABLE GOODS ORDERS SURGE
–Initial Claims -60,000 to 1.480 Mln; Pace of Decline Continues To Flatten–May Durable Goods New Orders Jump 15.8%; Shipments Up 4.4%–Q1 GDP, Real PCE Both Unrevised As Analysts Focus On Massive Q2 Decline––May Adv Trade Gap -$74.3 Bln, Wholesale Inventories -1.2%; Retail -6.1% By Kevin Kastner WASHINGTON (MaceNews) – The massive amount of data released simultaneously […]
GERMAN CONSUMER CONFIDENCE IMPROVES AS ECONOMY REOPENS: GFK
ZURICH (MaceNews) – German consumers appear more optimistic as economic stimulus and the opening of the economy are boosting expectations, Germany’s Gfk Institute reported Thursday. GfK projects that its measure of consumer confidence will be -9.6 in July, an improvement from a revised -18.6 (-18.9) in June, rising for a second consecutive month. However, GfK […]
DATA FLASH: MAY EXISTING HOME SALES LIKELY HIT BOTTOM
By Kevin Kastner WASHINGTON (MaceNews) – Existing home sales fell for the third straight month in May, but the current month’s data reflects contract signings in March and April at the worst points of the shutdown. It is expected that this may be the bottom for home resales. National Association of Realtors Chief Economist Lawrence […]
DATA PREVIEW: AFTER PARTIAL RECOVERY IN MAY, FOCUS TURNS TO JUNE
By Kevin Kastner WASHINGTON (MaceNews) – After solid improvement in the May U.S. data released over the last two weeks, the focus in the coming week turns to the early-June regional conditions data. June readings from the New York Fed and Philadelphia Fed released this previous week indicated continued improvement, with the Philadelphia Fed’s reading […]
FED’S ROSENGREN: MORE POLICY STIMULUS NEEDED; 2H REBOUND WEAK GIVEN VIRUS SPREAD
NEW YORK (MaceNews) – More fiscal and monetary stimulus will probably be needed given rising new Covid-19 cases in many states and a slower-than-hoped recovery, Boston Federal Reserve President Eric Rosengren said Friday. Rosengren, in remarks prepared for delivery at an online event, predicted the unemployment rate will remain in double digits through year end, […]
OPEC-PLUS WATCHDOG URGES GREATER COMPLIANCE WITH AGREED PRODUCTION CUTS
By Brai Odion-Esene, SW4 Insights for Mace News WASHINGTON (MaceNews) – Complete adherence to the recent accord on oil production limits is paramount to rebalancing oil market fundamentals and ensuring stability in the industry, the OPEC-plus watchdog group warned Thursday. The Joint Ministerial Monitoring Committee (JMMC) is co-chaired by Russia and Saudi Arabia’s energy ministers, […]