Google Analytics

Thursday, July 30

30th Jul - US GDP minor disappointment


Follow ‘MoreLiver’ on Twitter

Great Graphic: Shifting EMU Trade Marc Chandler

Non-performing loans: Periphery finally on the road to recovery – DB Research

Economic Bulletin 5/2015ECB
Why has growth in emerging market economies slowed? – ECB
Does consumer confidence predict private consumption? – ECB
Recent developments in extra-euro area trade: the role of emerging market economies – ECB

Spanish Risk Takers Win as Economy Grows Fastest in Eight Years – BB
Spanish economy keeps growing – FT
German unemployment rises but economy seen powering ahead – Reuters
German unemployment rate remains stable at 6.4% - FT

  Q2 GDP
+2.3%, Below Expectations, "Winter" Revised Higher – ZH
+2.3% Annualized Rate – Bill McBride
30Y Yield Plunges Under 3.00%, Stocks & USD Slide After GDP Miss – ZH
+2.3%; First Quarter Revised Upward – BB
Consumer spending bolsters Q2 growth – Reuters
+2.3 percent, picking up speed – WaPo
Economists React: ‘By No Means Satisfying’ – WSJ

Daily Central BanksWSJ
Hilsenrath’s Take: Labor Data is at the Top of The Fed’s Rate Hike Dashboard * Fed Stays on Track to Raise Rates This Year * House Panel Passes Fed Bill * Lagarde: Creditors Increasingly See Greek Debt Restructuring as Inevitable * Brazil Central Bank Raises Benchmark Rate, Indicates Tightening to End

Morning MoneyBeat AsiaWSJ
U.S. Stocks Rise as Traders Discount September Hike

Morning MoneyBeat EuropeWSJ
Doubt Over Fed Timing Supports Stocks

Morning MoneyBeat USWSJ
Second-Quarter GDP Could Support September Liftoff

Danske DailyDanske Bank

Euro rates updateNordea

Fed reiterated its data-dependence, gave no strong commitment * Rising yields and stronger USD after FOMC decision * First Fed hike priced-in around year-end

Morning MarketsTF
Yesterday's FOMC meeting saw the USD strengthen after the Fed was perceived as leaving the door open for a September rate hike. Whether the economy has all its ducks in a row, however, has yet to be seen... but today's Q2 GDP report should contain some clues.

Daily FX CommentMarc Chandler
FOMC Helps Dollar, but It's not Running Away

Daily ShotTF
As the US Federal Reserve adds "some" to its vocabulary the prospect of a rate hike sooner rather than later cheers the hawks. Meanwhile, emerging market currencies are still labouring under the weight of USD strength and the Chinese equities tangle looks more dismal than ever.

Daily Press SummaryOpen Europe
FAZ: Schäuble hopes for British support in plans to hive off Commission’s supervisory role * British Social Attitudes survey suggests that Brits want to stay in EU but also reduce the EU’s powers * Tsipras hits out at party critics ahead of meeting which could split Syriza

Brussels PlaybookPolitico
Brussels lobbying, crowdsourced — Calais chaos — Climate countdown

Chinese Stocks Tumble In Close Of Trading "Causing Panic", US GDP To Be Revised Higher On Seasonal Adjustments


FX UpdateTF
One little word can mean a lot, and the insertion of the word “some” to describe how much the employment market must improve to see the Fed pull the rate hike lever saw a solid return of USD strength – now it will be up to US economic data to provide the follow-through.

From the FloorTF
The USD managed a moderate rally on the back of yester
day's FOMC statement. But we really now need to see strong incoming data for more dollar strength.

Fed: Syyskuun koronnosto kaipaa vielä taustatukea | USA:n korot nousivat eilen Fedin kokouksen jälkeen | Ruotsin kuluttajaluottamus painui heinäkuussa