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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB’s Draghi said stimulus still needed
The European Central Bank (ECB) President, Mario Draghi insisted that a reassessment of the current monetary policy stance is not warranted at this stage. He also stressed that “sufficient confidence” would be necessary for the central bank to change tact.
ECB Minutes: Premature to change forward guidance
Minutes from the ECB’s March meeting showed that the central bank’s 25-member rate-setting committee broadly agreed that the Eurozone economy might be improving, but a substantial degree of stimulus is still needed.
German factory orders rose less than expected in February
In February, the seasonally adjusted factory orders rose 3.40% in Germany on a monthly basis, compared to a revised drop of 6.80% in the previous month. Market expectation was for factory orders to rise 4.00%.
German factory orders rose more than expected in February
In February, the non-seasonally adjusted factory orders in Germany recorded a rise of 4.60% on a YoY basis, more than market expectations for an advance of 3.90%. Factory orders had registered a revised unchanged reading in the previous month.
Swiss CPI rose as expected in March
In March, the consumer price index (CPI) in Switzerland recorded a rise of 0.20% on a monthly basis, meeting market expectations. In the prior month, the CPI had registered a rise of 0.50%.
Swiss CPI advanced more than expected in March
The CPI recorded a rise of 0.60% on a YoY basis in March, in Switzerland, compared to a similar rise in the previous month. Market anticipation was for the CPI to climb 0.50%.
Swiss EU HICP rose less than expected in March
On a monthly basis, in March, the EU harmonised consumer price index (HICP) climbed 0.10% in Switzerland, compared to an advance of 0.60% in the previous month. Market anticipation was for the EU HICP to climb 0.20%.
Swiss EU HICP rose as expected in March
In March on a YoY basis, the EU HICP in Switzerland registered a rise of 0.50%, at par with market expectations. In the previous month, the EU HICP had registered a rise of 0.70%.
US initial jobless claims dropped in the last week
The seasonally adjusted initial jobless claims in the US eased to 234.00 K in the week ended 01 April 2017, compared to a revised reading of 259.00 K in the previous week. Market expectation was for initial jobless claims to drop to a level of 250.00 K.
US number of planned layoffs by US companies declined in March
In March, on an annual basis, the number of planned layoffs by US companies recorded a drop of 2.00% in the US. The number of planned layoffs by US companies had fallen 40.00% in the prior month.
US continuing jobless claims declined in the last week
The seasonally adjusted continuing jobless claims recorded a drop to 2028.00 K in the US, in the week ended 25 March 2017, lower than market expectations of a drop to 2030.00 K. Continuing jobless claims had registered a level of 2052.00 K in the previous week.
Canadian building permits surprisingly fell in February
On a monthly basis, building permits in Canada unexpectedly dropped 2.50% in February, lower than market expectations for a rise of 1.30%. In the previous month, building permits had recorded a revised rise of 5.80%.
Japanese labour cash earnings rose less than expected in February
In Japan, labour cash earnings advanced 0.40% on an annual basis in February, less than market expectations for a rise of 0.50%. Labour cash earnings had risen by a revised 0.30% in the prior month.
Japanese consumer confidence index rose in March
The consumer confidence index climbed to 43.90 in Japan, in March, compared to a revised level of 43.20 in the previous month. Markets were expecting the consumer confidence index to rise to a level of 43.40.
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