Canada Data Response International Merchandise Trade (Aug.) August trade figures were disappointing. Export volumes were largely unchanged and there were downward revisions to export growth in previous months. Overall, we calculate that net exports likely... 11th October 2012 · 1 min read
US Data Response International Trade (Aug. 12) The rebound in the monthly trade deficit to $44.2bn in August, from $42.5bn, was due to the combination of a drop in exports and an increase in the value of petroleum-related imports. 11th October 2012 · 1 min read
Europe Economics Update Why is Spain still dragging its heels? Spain’s delay in applying for a bail-out and hence triggering the ECB’s new bond buying plan probably reflects both political and financial considerations. But it can’t hold out for much longer. 11th October 2012 · 1 min read
Emerging Markets Trade Monitor Emerging market exporters face more tough times ahead Emerging market exports have been hit by a broad slowdown in global demand this year, with the last few months proving especially weak. Given the bleak outlook for the global economy, a meaningful... 11th October 2012 · 1 min read
Latin America Economics Update Brazil rates on hold to 2014 Last night’s decision to cut Brazilian interest rates by 25bps to a new record low of 7.25% probably marks the end of the current easing cycle. But while most forecasters now expect the authorities to... 11th October 2012 · 1 min read
Japan Economics Update Worse to come as machinery orders slump The fall in Japan’s machinery orders in September adds to a large body of evidence that the economy contracted in Q3. What’s more, there are increasing signs that the economy will contract again in Q4... 11th October 2012 · 1 min read
Asia Economics Update Will the reform boost for Indian markets last? The recent burst of reforms has buoyed India’s equity and currency markets, and some further measures are possible in the coming weeks. However, the country’s fundamental outlook has not improved... 11th October 2012 · 1 min read
Canada Chart Pack Labour market slack likely to increase Government officials insist that much of the slack in the labour market following the 2009 recession has been taken up. Alternative measures, however, contradict this message. Admittedly, the official... 11th October 2012 · 1 min read
Africa Economics Update Nigeria likely to miss fiscal target for 2013 The 2013 budget proposal unveiled by President Goodluck Jonathan today is predicated on reasonableassumptions of economic growth and contains sensible measures to rebalance spending away fromsubsidies... 10th October 2012 · 1 min read
UK Markets Chart Pack Markets unimpressed by "green shoots" Investors seem sceptical that the recent improvement in the UK economy will last. In contrast to the rises seen in the US and Germany, equity prices in the UK have held steady. And while gilt yields... 10th October 2012 · 1 min read
Commodities Focus Macroeconomic backdrop for industrial metals to remain poor The impact of QE3 will be a major talking point during LME Week, which starts next Monday. However, even more purchases of relatively liquid US assets by the Fed will do nothing to address the... 10th October 2012 · 1 min read
Global Economics Update Tokyo gatherings unlikely to amount to much Finance ministers and central bankers from the G7 meet tomorrow in Tokyo ahead of the annual gathering of the IMF and the World Bank there, which concludes on Sunday. Although these meetings can very... 10th October 2012 · 1 min read
Asia Economic Outlook Bumpy road ahead Although Asia will not be immune from the continuing crisis in the euro-zone and weak global demand, healthy fundamentals and plenty of scope for policy easing mean growth should hold up relatively... 10th October 2012 · 1 min read
Middle East & North Africa Economics Update Jordan: a new government, but no chance of economic reforms On the face of it, the appointment of a widely respected economist as Jordan’s new Prime Minister should help to kick-start much-needed economic and fiscal reforms in the country. But in practice we... 10th October 2012 · 1 min read
US Housing Market Update New-build premium starting to drop The price premium attached to new-builds has fallen over the past six months. Moreover, continued strong investor demand, which is bidding up prices among the lowest tier of existing homes, should see... 10th October 2012 · 1 min read
