U.S. Consumer Sentiment Shows Slight Improvement In November

Trading 08 nov 2019 Commentaire »

Consumer sentiment in the U.S. has seen a slight improvement in the month of November, according to preliminary data released by the University of Michigan on Friday.

The report said the consumer sentiment index inched up to 95.7 in November after rising to 95.5 in October. Economists had expected to index to tick up to 95.9.

"The early November reading on consumer sentiment was nearly identical to last month's and the average 2019 level (95.6)," said Surveys of Consumers chief economist Richard Curtin.

He added, "Consumers did voice a slightly more positive outlook for the economy, which was offset by a slightly less favorable outlook for their own personal finances."

Curtin said one-in-four consumers spontaneously made negative references to tariffs but noted references to the impact of President Donald Trump's impeachment on economic prospects were virtually non-existent.

The report said the index of consumer expectations rose to 85.9 in November from 84.2 in October, while the current economic conditions index fell to 110.9 from 113.2.

On the inflation front, one-year inflation expectations were unchanged from the previous month at 2.5 percent, but five-year inflation expectations crept up to 2.4 percent in November from 2.3 percent in October.


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U.S. Wholesale Inventories Drop More Than Expected In September

Trading 08 nov 2019 Commentaire »

Reflecting a notable decrease in inventories of non-durable goods, the Commerce Department released a report on Friday showing U.S. wholesale inventories fell by slightly more than anticipated in the month of September.

The Commerce Department said wholesale inventories slid by 0.4 percent in September after inching up by a downwardly revised 0.1 percent in August.

Economists had expected inventories to dip by 0.3 percent compared to the 0.2 percent uptick originally reported for the previous month.

The report said inventories of non-durable goods slumped by 0.9 percent amid a substantial decrease in inventories of far products.

Inventories of durable goods also edged down by 0.1 percent, reflecting notable drops in inventories of furniture and automotive products.

Meanwhile, the Commerce Department said wholesale sales came in unchanged in September after slipping by 0.1 percent in August.

Sales of durable goods crept up by 0.1 percent during the month, while sales of non-durable goods came in unchanged.

Even with the bigger than expected drop in inventories, the report said the inventories/sales ratio for merchant wholesalers came in at 1.36 in September, unchanged from the previous month.


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*U.S. Wholesale Inventories Drop 0.4% In September

Trading 08 nov 2019 Commentaire »

U.S. Wholesale Inventories Drop 0.4% In September


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*U.S. Consumer Sentiment Index Inches Up To 95.7 In November

Trading 08 nov 2019 Commentaire »

U.S. Consumer Sentiment Index Inches Up To 95.7 In November


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Canadian Dollar Drops As Employment Unexpectedly Falls

Trading 08 nov 2019 Commentaire »

The Canadian dollar depreciated against its major counterparts in the European session on Friday, as a data showed that the economy unexpectedly shed jobs in October.

Data from Statistics Canada showed that employment dropped unexpectedly in the month of October.

The report said that employment fell by 1,800 jobs in October after an increase of 53,700 jobs in the previous month. Economists had expected employment to rise by about 14,700 jobs.

The unemployment rate was 5.5 percent in October, unchanged from September and in line with economist estimates.

Separate data showed that Canadian building permits fell more than expected in September

Building permits fell 6.5 percent in September following a rise of 5.6 percent in the previous month. Economists had forecast a 2.0 percent fall.

The currency declined against its major counterparts in the Asian session, except the aussie.

The loonie declined to more than a 3-week low of 1.3232 against the greenback from Thursday's closing value of 1.3174. If the loonie falls further, it may find support around the 1.34 level.

Reversing from its early highs of 1.4545 against the euro and 83.05 against the yen, the loonie dropped to 1.4599 and 82.62, respectively. The next likely support for the loonie is seen around 1.49 against the euro and 80.5 against the yen.

The loonie retreated to 0.9082 against the aussie, from a high of 0.9055 hit at 6:45 am ET. The loonie is seen finding support around the 0.92 region.

Looking ahead, University of Michigan's consumer sentiment index for November and U.S. wholesale sales for September will be released at 10:00 am ET.


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Riksbank Appoints Swedbank Chief Economist As Deputy Governor

Trading 08 nov 2019 Commentaire »

Sweden's central bank on Friday named Anna Breman, who is currently chief economist and head of macroanalysis at Swedbank, as the deputy governor for a term of six years.

Breman is set to fill the vacancy created by Kerstin af Jochnick, who left the Riksbank in October to join the European Central Bank.

"The decision of the General Council was unanimous," Susanne Eberstein, Chairperson of the General Council, and Michael Lundholm, Vice Chairman, said in a joint comment.

"Anna Breman has broad and in-depth experience from both the financial sector and the world of academia, in Sweden and internationally." The General Council of the Riksbank also decided to appoint Cecilia Skingsley as first deputy governor from November 8 until her term expires on May 22, 2025. She has been the deputy governor since May 22, 2013.


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Taiwan Exports Fall At Slower Pace In October

Trading 08 nov 2019 Commentaire »

Taiwan's exports decreased for a second straight month, but at a slower pace in October, while the rate of decline in imports increased, leading to a higher trade surplus, figures from the Ministry of Finance showed on Friday. Exports decreased 1.5 percent year-on-year following a 4.6 percent slump in September. Economists had forecast a 1.8 percent fall. Shipments of parts of electronic product, information, communication and audio-video products grew, while those of base metals and related articles, machinery, plastics & rubber and articles declined.

Among the major trading partners, exports to Japan and the U.S. rose, while those to Mainland China, Hong Kong, ASEAN and Europe decreased. Imports dropped 4.1 percent, after a 0.6 percent decline in the previous month. The pace of decline was the steepest in three months. Economists were looking for a modest fall of 0.1 percent. The trade balance rose by 18.9 percent year-on-year to US$3.953 billion. Economists had forecast a surplus of US$3.68 billion.


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French Trade Gap Widens In September

Trading 08 nov 2019 Commentaire »

France's merchandise trade deficit widened in September and the third quarter, figures from the French Customs showed on Friday.

The trade deficit widened to EUR 5.6 billion in September from EUR 5.4 billion in August. Economists had forecast a shortfall of EUR 4.8 billion.

In the third quarter, the trade deficit was EUR 16 billion versus EUR 14.5 billion in the previous three months. The shortfall was EUR 16.3 billion in the same period last year.

Exports decreased 0.9 percent quarterly, while imports grew 0.2 percent.


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*Canadian Dollar Drop To 1.4599 Vs Euro, 82.63 Vs Yen

Trading 08 nov 2019 Commentaire »

Canadian Dollar Drop To 1.4599 Vs Euro, 82.63 Vs Yen


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*Canadian Dollar At Over 3-week Low Of 1.3232 Vs U.S. Dollar After Jobs Data

Trading 08 nov 2019 Commentaire »

Canadian Dollar At Over 3-week Low Of 1.3232 Vs U.S. Dollar After Jobs Data


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