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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German consumer confidence index surprisingly rose in June
The consumer confidence index recorded an unexpected rise to 10.40 in Germany, in June, compared to a level of 10.20 in the previous month. Market anticipation was for the consumer confidence index to record a flat reading.
Spanish PPI climbed in April
In April, on an annual basis, the producer price index (PPI) in Spain registered a rise of 5.90%. In the prior month, the PPI had registered a revised rise of 5.80%.
Spanish PPI remained flat in April
On a monthly basis, the PPI in Spain remained flat in April. The PPI had registered a revised drop of 1.00% in the previous month.
Swiss industrial production dropped in 1Q 2017
On a YoY basis, industrial production eased 1.30% in Switzerland, in 1Q 2017. In the previous quarter, industrial production had dropped 1.20%.
FOMC Minutes: Officials forecasted rate hike “soon”, planned to trim balance sheet
Minutes from the Federal Open Market Committee’s (FOMC) May 2-3 meeting showed that most policymakers believe it would “soon” be time to raise rates again as long as the US economy continues to rebound from a surprising bout of weakness in the first quarter. The FOMC also moved towards a consensus on a plan to scale back its massive $4.50 trillion sheet.
US existing home sales declined in April
Existing home sales registered a drop of 2.30%, on MoM basis, to a level of 5.57 million in the US, in April, compared to a revised reading of 5.70 million in the prior month. Market anticipation was for existing home sales to drop to 5.65 million.
US mortgage applications rose in the last week
In the week ended 19 May 2017, on a weekly basis, mortgage applications rose 4.40% in the US. Mortgage applications had dropped 4.10% in the previous week.
US house price purchase index rose in 1Q 2017
In the US, the house price purchase index climbed 1.40% in 1Q 2017 on a QoQ basis. The house price purchase index had recorded a rise of 1.50% in the previous quarter.
US housing price index advanced more than expected in March
In the US, the housing price index rose 0.60% on a MoM basis in March, compared to an advance of 0.80% in the prior month. Market expectation was for the housing price index to climb 0.50%.
BoC left key interest rate steady at 0.50%
The Bank of Canada (BoC) held the benchmark interest rate unchanged at 0.50%. Although the central bank Governor, Stephen Poloz gave a nod to improving economic data, he once again highlighted Canada’s weak wage growth and the slowing pace of underlying inflation, indicating that the economy still has room for improvement. He further added that the current degree of monetary stimulus is appropriate at present.
Foreign investors turned net sellers of Japanese stocks in the previous week
Foreign investors turned net sellers of ¥26.40 billion worth of Japanese stocks in the week ended 19 May 2017, as compared to being net buyers of a revised ¥371.90 billion worth of Japanese stocks in the previous week.
Japanese leading economic index climbed in March
The final leading economic index recorded a rise to 105.50 in March, in Japan. The leading economic index had recorded a revised level of 104.70 in the previous month. The preliminary figures had also indicated an advance to 105.50.
Foreign investors remained net buyers of Japanese bonds in the previous week
Foreign investors remained net buyers of ¥563.10 billion worth of Japanese bonds in the week ended 19 May 2017, as compared to being net buyers of ¥395.40 billion worth of Japanese bonds in the previous week.
Japanese coincident index dropped in March
In Japan, the final coincident index registered a drop to 114.40 in March. The coincident index had recorded a revised reading of 115.20 in the prior month. The preliminary figures had recorded a fall to 114.60.
Japanese investors became net buyers of foreign bonds in the previous week
Japanese investors remained net buyers of ¥778.50 billion worth of foreign bonds in the week ended 19 May 2017, as compared to being net buyers of a revised ¥1758.30 billion worth of foreign bonds in the prior week.
Japanese investors turned net sellers of foreign stocks in the previous week
Japanese investors turned net sellers of ¥26.10 billion worth of foreign stocks in the week ended 19 May 2017, from being net buyers of a revised ¥254.10 billion worth of foreign stocks in the previous week.
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