Daily Review – Friday 28-Oct-2016

Daily Review – Friday 28-Oct-2016

US – Unemployment Claims

Jobless claims declined by 3,000 to 258K in the week ended October 22.

Filings have been below 300K for 86 straight weeks, the longest streak since 1970 and typical for a healthy labor market.

 

US – Core Durable Goods Orders M/M

The orders placed with manufacturers of durable goods, excluding transportation items, increased 0.2% for September, up from 0.1% growth in August.

 

US – Durable Goods Orders M/M

Durable goods orders contracted by 0.1% in September. Analysts were expecting a growth of 0.1% after August showed no growth.

 

US – Pending Home Sales M/M

The Pending Home Sales Index grew 1.5 % in September from a slight downward revision of 2.5% in August.

The index is now 2.4%higher than last September 2015

 

US – Natural Gas Storage

According to the weekly EIA report on natural gas storage, increase of 73B cubic feet (Bcf) was reported for the week ending Oct. 21st compared with an increase of 77 Bcf last week.

Stocks are 1.3% above last year’s figure and 4.9% above the five-year average.

 

UK – Prelim GDP Q/Q

UK’s first post-Brexit preliminary GDP showed an increase of 0.5% in Q3’16 compared with a growth of 0.7% in Q2’16. This beat the market’s expectation of 0.3%.

GDP was 2.3% higher in Q3’16 compared with the same quarter last year.

 

UK – Index of Services 3M/3M

The UK Index of Services rose to 0.8%, from 0.6% in the previous month.

The Index measures monthly movements in gross value added for the service industries, which overall account for around 79% of the UK’s GDP.

 

UK – CBI Realized Sales

CBI Realized Sales surprised the markets with a reading of 21 points, destroying the estimate of -2 points.

The rise in overall sales volumes was driven by retailers of clothing, furniture & carpets, and hardware & DIY, while sales by groceries and department stores remained flat.

 

EU – Spanish Unemployment Rate

Spain’s unemployment rate fell to 18.91% in the third quarter, the lowest level since 2009.

 

EU – M3 Money Supply Y/Y

The annual growth rate of the broad monetary aggregate M3 stood at 5.0% in September 2016, after 5.1% in August 2016.

 

EU – Private Loans Y/Y

The annual growth rate of adjusted loans to private households stood at 1.8% in September, unchanged from the previous month.

 

Australia – Import Prices Q/Q

The Import Price Index fell 1.0% in Q3’16. Since the beginning of the year until Q3’16 the Import Price Index fell 5.1%.

 

New Zealand – Trade Balance

New Zealand’s trade deficit expanded to $1.44 billion in September, from $1.14 billion a year earlier.

Exports fell 5.7% to $3.47B, led by a 35% decline in meat and edible offal exports to $281M, the lowest monthly reading since August 2013.

Imports increased 1.8% to $4.9B, boosted by the import of aircraft. Excluding aircraft imports from the total, imports fell 0.8% to $4.7B.

 

Upcoming Data Releases

Friday 28 October will have the Advance Quarterly GDP figures from the US as well as the Japanese Household Spending and Core CPI.

Daily Review - Monday 31-Oct-2016 Daily Review - Thursday 27-Oct-2016