 | ||
Global Economic News12.05.2008 ECB's Quaden Says Current Monetary Policy "Fully Appropriate" (CEP News) (CEP News) Frankfurt - Speaking in Bucharest, Romania on Monday, European Central Bank Governing Council member Guy Quaden stated that the ECB's current monetary policy was "fully appropriate" and was not impeding economic growth in the euro zone. 12.05.2008 Downside Surprises Seen In Italian Industrial Output in March (CEP News) (CEP News) Frankfurt - According to data from the National Institute for Statistics (ISTAT), Italian seasonally adjusted industrial output fell 0.2% in March month-over-month, unchanged from the decline seen in February, but lower than the flat reading expected. 09.05.2008 The Week Ahead Canada & U.S.: U.S. Advance Retail Sales, CPI and Housing Starts (CEP News) (CEP News) - It is going to be a blockbuster week for data in the U.S. with the release of tier one data. Markets will receive April's CPI report, retail sales, import price index, industrial production and capacity utilization, housing starts and building permits, and the University of Michigan/Reuters consumer sentiment. 09.05.2008 The Week Ahead Japan & Australia: Japanese GDP, Australian Commonwealth Budget (CEP News) (CEP News) - Japanese GDP figures will be a focus for markets on Thursday. In Australia, the Commonwealth budget to be released on Tuesday will also be a highlight. 09.05.2008 The Week Ahead Europe & UK: UK and European Inflation Reports (CEP News) (CEP News) - There will be no less than five CPI and three GDP reports for data in the upcoming week in Europe and the UK. Euro zone and UK CPI reports for April will be released on Tuesday and Thursday, respectively, with GDP data concentrated into a flurry of releases on Thursday. 09.05.2008 Closing Market Recap: Gushing Oil Prices Overshadow Choppy Stocks and Treasuries (CEP News) (CEP News) - The seemingly unstoppable march of crude oil continued Friday for the fifth straight day to cap the largest weekly percentage gain in nearly three years. High energy prices have become a major source of concern in equity and foreign exchange markets, helping to boost the Canadian dollar and sideswipe stocks on Friday. 09.05.2008 Friday's News Recap: Canadian Employment Beats Expectations, Crude Hits $126 (CEP News) (CEP News) - A better-than-expected employment report from Canada and contracting trade deficit in the United States highlighted Friday's economic news as stocks came under pressure due to a poor earnings report from AiG and another day of record crude oil prices. 09.05.2008 Canadian Merchandise Trade Surplus Masks Weakness, Economists Say (CEP News) (CEP News) Ottawa - Rising energy export prices, which helped push Canada's merchandise trade surplus $1 billion over expectations to $5.5 billion in March, should help nominal GDP growth in the first quarter, but there's little to cheer about in real GDP terms, economists say. 09.05.2008 Central Bank Watch: BOE, ECB, RBA Continued to Hold the Line on Rates (CEP News) (CEP News) - Interest rates were held steady across the board at three of the world's largest central banks this week, with the Bank of England, European Central Bank and Reserve Bank of Australia all keeping their key rates unchanged. 09.05.2008 Economists Expect RBA Tightening Following Hawkish Monetary Policy Statement (CEP News) (CEP News) - Economists are concerned that Australian inflation will not return to the 2% to 3% target and that the Reserve Bank of Australia (RBA) will have no choice but to raise interest rates. |
