U.S. Consumer Sentiment Continues To Rebound In June

Trading 12 juin 2020 Commentaire »

After reporting a record nosedive in U.S. consumer sentiment in March and April, the University of Michigan released a report on Friday showing sentiment continued to improve in June following a modest rebound in May.

The preliminary report showed the consumer sentiment index for June climbed to 78.6 from 72.3 in May and 71.8 in April. Economists had expected the index to rise 75.0.

Surveys of Consumers chief economist Richard Curtin said the increase by the index reflected gains in the outlook for personal finances and more favorable prospects for the national economy due to the reopening of the economy.

"The turnaround is largely due to renewed gains in employment, with more consumers expecting declines in the jobless rate than at any other time in the long history of the Michigan surveys," Curtin said.

However, he added, "Despite the expected economic gains, few consumers anticipate the reestablishment of favorable economic conditions anytime soon."

The bigger than expected increase by the headline index came as the current economic conditions index advanced to 87.8 in June from 82.3 in May and the index of consumer expectations jumped to 73.1 from 65.9.

On the inflation front, one-year inflation expectations dipped to 3.0 percent in June after spiking to 3.2 percent in May, while five-year inflation expectations edged down to 2.6 percent from 2.7 percent.


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Dollar Rises After U.S. Consumer Sentiment Index

Trading 12 juin 2020 Commentaire »

At 10 am ET Friday, the University of Michigan has released preliminary consumer sentiment for June.

Following the data, the greenback rose against its major rivals.

The greenback was trading at 107.41 against the yen, 0.9479 against the franc, 1.1301 against the euro and 1.2575 against the pound around 10:02 am ET.


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*U.S. Consumer Sentiment Index Climbs To 78.9 In June

Trading 12 juin 2020 Commentaire »

U.S. Consumer Sentiment Index Climbs To 78.9 In June


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Dollar Mixed Ahead Of U.S. Consumer Sentiment Index

Trading 12 juin 2020 Commentaire »

At 10 am ET Friday, the University of Michigan is due to release preliminary consumer sentiment for June.

Ahead of the data, the greenback traded mixed against its major rivals. While the greenback recovered from its early low against the pound, it held steady against the rest of major rivals.

The greenback was worth 107.27 against the yen, 0.9466 against the franc, 1.1309 against the euro and 1.2590 against the pound as of 9:55 am ET.


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U.S. Import Prices Jump More Than Expected Amid Rebound In Fuel Prices

Trading 12 juin 2020 Commentaire »

Reflecting a substantial rebound in fuel prices, the Labor Department released a report on Friday showing a bigger than expected jump in U.S. import prices in the month of May.

The Labor Department said import prices surged up by 1.0 percent in May after plunging by 2.6 percent in April. Economists had expected import prices to increase by 0.6 percent.

The rebound in import prices came as fuel prices spiked by 20.5 percent in May following the 31.0 percent nosedive in the previous month.

Excluding the jump in fuel prices, import prices inched up by just 0.1 percent in May after falling by 0.5 percent in April.

The uptick in non-fuel import prices came as rising prices for foods, feeds, and beverages and consumer goods more than offset a drop in prices for non-fuel industrial supplies and materials and automotive vehicles.

The report also showed a rebound in export prices, which climbed by 0.5 percent in May after tumbling by 3.3 percent in April. Export prices were expected to rise by 0.6 percent.

The increase in export prices came as prices for non-agricultural exports rose by 0.6 percent, more than offsetting a 0.5 percent drop in prices for agricultural exports.

Rising prices for non-agricultural industrial supplies and materials contributed to rebound in prices for non-agricultural exports, more than offsetting declines in prices for capital goods, consumer goods, automotive vehicles, and nonagricultural foods.

Meanwhile, the continued decrease in prices for agricultural exports came as lower prices for corn, dairy products, and soybeans more than offset higher prices for meat, vegetables, and cotton.

Despite the monthly increases, import and exports in May were both down by 6.0 percent compared to the same month a year ago.


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Italy's Labor Hours, Employment Fall Amid Covid-19 Emergency

Trading 12 juin 2020 Commentaire »

Italy's labor market dynamics in the first quarter of 2020 have been strongly affected by the consequences of the coronavirus health emergency since the last week of February, the statistical office Istat reported Friday.

Labor input in hours worked decreased 7.5 percent sequentially in the first quarter due to the exceptional fall in economic activity due to the coronavirus, or Covid-19, pandemic.

The number of people in employment decreased 101,000 or 0.4 percent in the first quarter. The employment rate dropped to 58.8 percent, down 0.2 points compared to last quarter.

The unemployment rate fell to 8.9 percent from 9.5 percent in the fourth quarter. This was the fifth consecutive fall.


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Turkey Current Account Deficit Widens In April

Trading 12 juin 2020 Commentaire »

Turkey's current account deficit widened in April from last year, data from the central bank showed Friday.

The current account deficit increased to $5.062 billion from $496 million in the same period last year. In March, the current account deficit was $4.844 billion.

The goods deficit increased by $2.279 billion with a net outflow of $3.810 billion and services logged a net outflow of $240 million versus an inflow of $2.333 billion in the same month last year.

Investment income under primary income item posted a net outflow of $1.036 billion in April, while the secondary income account recorded a net inflow of $74 million.

The capital account deficit was $3 billion in April and financial account surplus decreased to $2.306 billion in April from $7.656 billion in the previous month.


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U.S. Import Prices Jump More Than Expected In May

Trading 12 juin 2020 Commentaire »

Reflecting a substantial rebound in fuel prices, the Labor Department released a report on Friday showing a bigger than expected jump in U.S. import prices in the month of May.

The Labor Department said import prices surged up by 1.0 percent in May after plunging by 2.6 percent in April. Economists had expected import prices to increase by 0.6 percent.

The rebound in import prices came as fuel prices spiked by 20.5 percent in May following the 31.0 percent nosedive in the previous month.

The report also showed a rebound in export prices, which climbed by 0.5 percent in May after tumbling by 3.3 percent in April. Export prices were expected to rise by 0.6 percent.


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Hong Kong Industrial Production Falls In Q1

Trading 12 juin 2020 Commentaire »

Hong Kong's industrial production declined at a faster rate in the first quarter, data published by the Census and Statistics Department showed on Friday.

The index of industrial production for manufacturing industries as a whole fell 4.6 percent year-over-year in the first quarter, following a 0.5 percent decline in the previous quarter.

The sub index for sewerage, waste management and remediation activities advanced 1.1 percent annually in the March quarter.

On a seasonally adjusted basis, the index of industrial production for manufacturing industries as a whole decreased by 3.5 percent in the first quarter compared with the previous quarter.

Data also showed that industrial producer prices grew 1.3 percent annually in the first quarter, following a 1.1 percent rise in the previous quarter.


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*Canadian Industrial Capacity Utilization Drops To 79.8% In Q1

Trading 12 juin 2020 Commentaire »

Canadian Industrial Capacity Utilization Drops To 79.8% In Q1


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