Sterling continues to trade under pressure following a week of disappointing UK economic data, with weak December retail sales completing a trio of negative reports that also included lower-than-expected GDP growth and CPI readings. The Read more…
UK retail sales volumes declined by -0.3% mom in December, significantly missing expectations for 0.4% mom increase. The drop was primarily driven by reduced supermarket sales, partially offset by a rebound in non-food stores such Read more…
China’s economy ended 2024 on a strong note, with GDP expanding by 5.4% yoy in Q4, beating market expectations of 5.0%. This marked a significant acceleration from 4.6% in Q3, 4.7% in Q2, and 5.3% Read more…
New Zealand’s BNZ Performance of Manufacturing Index rose marginally in December, increasing from 45.2 to 45.9. While this marks a slight improvement, the sector remains in a prolonged contraction, far below the long-term average of Read more…
Markets All eyes were on December US retail sales yesterday, but a CNBC interview with Fed governor Waller turned out to be the key market-moving event. The hawk-turned-dove copied tactics of BoE Taylor on Wednesday, Read more…
Optimism yesterday could’ve been boosted by slower-than-expected US retail sales in December, another set of strong bank and TSM earnings and hawkish comments from the Federal Reserve’s (Fed) Christopher Waller who said that he sees Read more…
In focus today Today, we receive the final euro area HICP data for December, which will reveal in more detail the drivers of inflation. The flash release showed inflation rising to 2.4% y/y with core Read more…
A depreciating exchange rate sometimes gets interpreted as a ‘vote of no confidence’ in that economy or currency. In fact, it is often a necessary and welcome shock absorber. Exchange rates are often seen as Read more…
Key insights from the week that was. January’s Westpac-MI Consumer Sentiment survey suggests the Australian consumers’ mood soured over the holiday period. Following a –2.0% dip in December, the headline index fell another 0.7% to Read more…
Key Highlights USD/JPY started a downside correction from the 158.85 zone. It traded below a key rising channel with support at 157.10 on the 4-hour chart. EUR/USD is struggling to recover above the 1.0350 resistance. Read more…