Daily Review – Tuesday 22-Nov-2016

Daily Review – Tuesday 22-Nov-2016

Canada – Wholesale Sales m/m

Canadian wholesale sales decreased 1.2% in September, following increases in the previous five months.

Declines were recorded in five sub-sectors, led by lower sales in the machinery, equipment and supplies and the miscellaneous sub-sectors.

 

EU – ECB President Draghi Speaks

The ECB president confirmed that the Central Bank will continue its bond purchasing program in 2017.

“The return of inflation towards our objective still relies on the continuation of the current, unprecedented level of monetary support, in spite of the gradual closing of the output gap,”

“It is for this reason that we remain committed to preserving the very substantial degree of monetary accommodation necessary to secure a sustained convergence of inflation towards levels below, but close to, 2 percent over the medium term,”

 

EU – German Bundesbank Monthly Report

“In the last quarter of 2016, growth in the German economy is likely to be significantly stronger after the temporary slowdown in the summer. Sentiment in the economy has improved considerably. This is particularly the case in manufacturing, where capacity utilization has continued to rise significantly and new orders are up.”

The German growth slowed to 0.2% in Q3’16 from 0.4% in Q2’16 and 0.7% in the first quarter.

 

Japan – Trade Balance

Japan’s trade balance was forecasted to grow by ¥0.41T, but actual numbers showed it rose ¥0.05T more to ¥0.47T in October, from ¥0.36T in September.

 

Japan – All Industries Activity m/m

Japan’s all industries activity index rose 0.2% in September, the same as in the preceding month.

 

China – CB Leading Index m/m

The Conference Board’s leading index for China grew 0.8% in October, compared to a 1.2% growth in the previous month.

 

Australia – CB Leading Index m/m

The same leading index, but for Australia showed a 0.5% increase in September.

 

New Zealand – Core Retail Sales q/q

While analysts were expecting a 1.1% rise in New Zealand’s core retail sales, the actual number came in at a modest 0.3% for Q3’16, compared with a strong 2.5% in Q2’16.

On a yearly basis, Q3’16 still grew very strongly at 5.2%, compared with Q3’15.

 

New Zealand – Credit Card Spending y/y

Measured on a yearly basis, New Zealand’s credit card spending grew to 10.2% in October, from a revised 8.5% in the previous month.

 

Upcoming Data Releases

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