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Australian business conditions just bounced back but retailers are still feeling the pinch

NAB’s monthly business survey showed business conditions returned to record highs in April. However, while the mining and finance sectors continue to strengthen, business conditions in retail turned negative for the first time this year. The sub-index for business conditions…

Fed will view April jobs report as signaling it does not have to rush to raise interest rates

Federal Reserve officials will be pleased with the April jobs report, saying it justifies their policy to gradually lift interest rates, economists said Friday. “It means they can be gradual. There is no rush,” said Michael Hanson, chief U.S. macro…

Euro area annual inflation down to 1.2%

Euro area annual inflation is expected to be 1.2% in April 2018, down from 1.3% in March 2018, according to a flash estimate from Eurostat, the statistical office of the European Union.

China’s PMI rose to 51.1 in April

The Caixin China General Manufacturing PMI edged up to 51.1 in April. Output increased at a faster rate last month from March, while the contraction in employment narrowed. However, growth of new business moderated for the second straight month, reflecting…

RBA left interest rates unchanged

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. The housing markets in Sydney and Melbourne have slowed. Nationwide measures of housing prices are little changed over the past six months, with…

German retail turnover in March 2018: +1.3% in real terms on March 2017

According to provisional data turnover in retail trade in March 2018 was in real terms 1.3% and in nominal terms 2.6% larger than in March 2017. The number of days open for sale was 26 in March2018 and 27 in…

Fed will make 4 rate hikes this year, economists say after latest GDP, ECI reports

The latest economic data released by the government on Friday show inflation pressures are rising, and will lead the Federal Reserve to hike rates four times this year, one more than the three moves targeted in March, economists said. “The…

Silence is golden – the ECB way

Very often, even the least informative ECB meetings can at least be entertaining. Today’s ECB meeting, however, set a new milestone in terms of buying time. Unfortunately, in a hardly entertaining way. The unexpected drop in soft and hard data…

Weekly Crude Data Shows Build of 2.2 Million Barrels

U.S. crude oil refinery inputs averaged over 16.6 million barrels per day during the week ending April 20, 2018, 328,000 barrels per day less than the previous week’s average. Refineries operated at 90.8% of their operable capacity last week. Gasoline…

U.S. consumer confidence, housing data highlight economy's strength

U.S. consumer confidence rebounded in April and new home sales increased more than expected in March, pointing to underlying strength in the economy despite signs that growth slowed in the first quarter. Other data on Tuesday also showed house prices…

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