U.S. consumer sentiment rose in August, while an index of current economic conditions hit its highest since July 2007, a survey released on Friday showed. The Thomson Reuters/University of Michigan’s final August reading on the overall index on consumer sentiment came in at 82.5, up from 81.8 the…
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Consumer sentiment rises August, ignores economy jitters
Chicago PMI in August surged to a reading of 64.3 from 52.6 in July, recovering all the ground lost last month. Components for production, new orders and order backlogs all rose, according to MNI Indicators. Economists polled by MarketWatch had expected a reading of 57.5. Any reading above 50…
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Chicago PMI surges to 64.3 in August, regaining lost ground
Federal Reserve officials benefited from gains in asset prices that have boosted the wealth of millions of other Americans, financial disclosure reports show. Fed Chair Janet Yellen’s assets were valued at $5.3 million to $14.1 million last year compared with a range of $4.8 million to $13.2 mil…
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Yellen Wealth Grows as Rising Financial Markets Lift Assets
Two years ago, euro zone government leaders hung on Mario Draghi’s every word. Now the European Central Bank chief is struggling to get through to them. What has happened to ‘Super Mario’s’ mojo? For financial markets, Draghi’s words still count. But therein lies a problem – his promise in 2012 …
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Draghi dials R for Reform. Line is busy
UK Home Secretary Theresa May has announced that a terrorist attack on the UK is :highly likely,” although stressed that there is no information to suggest an attack is imminent: *UK TERROR THREAT LEVEL RAISED TO SEVERE FROM SUBSTANTIAL *REAL AND SERIOUS THREAT IN THE UK FROM TERRORISM, …
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UK Raises Terror Threat Level To Severe (From Substantial)
Consumer spending in the U.S. unexpectedly dropped in July for the first time in six months, a sign households are lagging behind as wages fail to accelerate. Household purchases decreased 0.1 percent after increasing 0.4 percent in June, Commerce Department figures showed today in Washington. N…
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Consumer Spending in U.S. Falls for First Time in Six Months
The Industrial Product Price Index (IPPI) declined 0.3% in July, mainly because of lower prices for energy and petroleum products. The Raw Materials Price Index (RMPI) declined 1.4%, largely as a result of lower prices for crude energy products. The IPPI declined 0.3% in July, after increasing 0.1…
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Canada Industrial Product and Raw Materials Price Indexes, July2014
Real gross domestic product (GDP) rose 0.8% in the second quarter, following a 0.2% increase in the first quarter. This was the largest quarterly gain since the third quarter of 2011. On a monthly basis, real GDP by industry increased 0.3% in June. The quarterly growth was a result of increased e…
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Canadian economic accounts, 2nd quarter2014and June2014
Personal income increased $28.6 billion, or 0.2 percent, and disposable personal income (DPI) increased $17.7 billion, or 0.1 percent, in July, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) decreased $13.6 billion, or 0.1 percent. In June, personal income …
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US Personal Income and Outlays: July 2014
The US dollar is consolidating, largely within yesterday’s ranges. Month-end and quarter-end hedge and portfolio adjustments are notoriously difficult to predict. There is also large option expires today. Given the EU Summit this weekend, a holiday in the US on Monday, and no fewer than five…
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Month-end Consolidation Featured Ahead of Next Week’s Key Events
The situation in Ukraine looks ever further from the peaceful, or at least contained, solution Western leaders were hoping for. As Russia’s territorial ambitions seemed closer to all-out war with its neighbor, Ukrainian President Petro Poroshenko canceled a planned trip to Turkey, and U.S. Presi…
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Ukraine: Why you should really be worried this time
If the unemployment rate is a screwdriver in an economist’s tool kit, the Kansas City Fed’s new Labor Market Conditions Indicators (LMCI) is a Swiss army knife. Traditional measures of the nation’s labor market — such as the unemployment rate and the number of job openings — are useful tools, but…
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New KC Fed index reveals an improving US labor market
On June 9, with his 150-year-old Portuguese corporate dynasty close to collapse, patriarch Ricardo Espirito Santo Salgado made a desperate attempt to save it. Salgado signed two letters to Venezuela’s state oil company, which had bought $365 million in bonds from his family’s holding company. Th…
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The billion-dollar fall of the house of Espirito Santo
Mario Draghi has made European political leaders an offer: You scratch my back and I’ll scratch yours. In turning up the rhetoric on his readiness to start quantitative easing, the European Central Bank president is also asking governments to open their own wallets. His message to European leade…
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How Draghi Seeking QE Trade-Off May Find Austerity Trap
Euro zone inflation dropped as expected to a fresh five year low in August, data showed on Friday, but it was not likely to force the European Central Bank into immediate policy intervention next week, Consumer prices in the 18 countries using the euro rose by just 0.3 percent year-on-year in Aug…
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Euro zone inflation dips as expected in August
Euro area1 annual inflation2 is expected to be 0.3% in August 2014, down from 0.4% in July3, according to a flash estimate4 from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, services is expected to have the highest annual rate in A…
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Euro area annual inflation down to 0.3%
The new chief investment officer for Japan at UBS AG’s wealth management division likens the nation to a man with $1.2 million in debt who is spending all his $53,000 salary and still borrowing $40,000 a year. Japan has no option but to fuel inflation to reduce its borrowings, while the challenge…
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Yen at 120 Seen Needed by UBS Wary of Weimar Redux
If euro zone inflation falls deeper into the ‘danger zone’ as expected on Friday, it will at the very least complicate the European Central Bank’s plans to wait and see whether its recent policy move to ignite the euro zone economy will work. Inflation in the 18 countries using the euro is seen d…
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Vanishing euro zone inflation seen intensifying ECB policy headache
The following are the intraday outlooks for the USD Index, EUR/USD, EUR/JPY, and EUR/CAD as provided by the technical strategy team at SEB Group. USD INDEX: Filled the weekend gap. The weekend gap (82.33-58) was yesterday filled and the buyers were returning at the low end of it hence preventin…
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Intraday Outlooks For USD Index, EUR/USD, EUR/JPY, EUR/CAD – SEB
The KOF Economic Barometer increased in August 2014. After it took a dip below its long-term average in July, the KOF Economic Barometer rebounds towards its 100-point mark in the current month. The actual increase amounts to 1.6 points – from 97.9 in July (revised from 98.1) to 99.5. The growth of…
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Swiss KOF Economic Barometer: After a Dip Close to Long-run Level
