Daily Review – Friday 11-Nov-2016

Daily Review – Friday 11-Nov-2016

US – Unemployment Claims

The number of individuals who filed for unemployment benefit for the first time was 245K in the week ending November 5. A decrease of 11,000 from the previous week’s unrevised level of 265K.

This marks 88 consecutive weeks of initial claims below 300K the longest streak since 1970.

 

US – Natural Gas Storage

US natural gas inventories increased/decreased by 54B cubic feet similar to the previous week.

Gas inventories build ups have been decreasing for 4 weeks consecutive weeks and are starting to stabilise.

 

US – 10-y Bond Auction

Yesterday’s US government 10-year bond auction resulted in a higher average yield of 2.02% (1.79% previously) and a lower bid-to-cover ratio of 2.2 (2.5 previously).

 

Canada – New Housing Price Index m/m

Canada’s NHPI rose 0.2% in September compared with the previous month.

The indexes from the combined region of Toronto, Oshawa and Vancouver contributed the most to the monthly increase.

 

UK – RICS House Price Balance

The national house price balance crept higher to 23% in September, from 18% during the previous month with respondents in all areas except London and the North East reporting growth.

 

EU – French Industrial Production m/m

Industrial production in France fell -1.1% in September after a positive 2.3% growth in August.

Over Q3’16, output grew slightly in the manufacturing industry by 0.2% compared to the previous quarter.

 

EU – Italian Industrial Production m/m

Italy’s industrial production dropped 0.8% in September compared to August which saw a revised 1.8% increase.

Compared to the same period in 2015, September increased by 1.8%.

 

Japan – Core Machinery Orders m/m

Private-sector core machinery orders, excluding orders for ships and electric power companies, decreased by 3.3% in September.

 

Japan – M2 Money Stock y/y

Japan’s M2 money stock rose to a seasonally adjusted 3.7% in October, from a downwardly revised 3.5% in the previous month.

 

Japan – Prelim Machine Tool Orders y/y

The preliminary machine tool orders declined another 2.6% from -6.3% in September to -8.9% in October.

 

Australia – MI Inflation Expectations

The Melbourne Institute survey of consumer inflationary expectations, fell by 0.5% points to 3.2% in November from 3.7 per cent in October.

 

Australia – Home Loans m/m

The number of home loans issued by Australian authorities rose by a seasonally adjusted 1.6% in August, following a revised decline of 2.7% in July.

 

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