Guardian Stockbrokers Key Economic News Thursday 19 Nov 2015

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The key points from today’s economic news, brought to you by Guardian Stockbrokers.

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Euro-zone construction output recorded a drop in September

The seasonally adjusted construction output slid 0.40% on a MoM basis in the Euro-zone, in September. In the previous month, construction output had risen by a revised 0.50%.

Swiss economic expectations index slid in November

The economic expectations index dropped to 0.00 in Switzerland, in November. In the prior month, the economic expectations index had registered a reading of 18.30.

FOMC minutes highlighted Fed ready for a December rate hike

The minutes of the October monetary policy meeting indicated that most of the policy setters of the Federal Open Markets Committee (FOMC) did not want to raise rates in October but seemed conditions for a rate hike could well be met by the time of the next meeting on 15-16 December. The minutes, however, stuck to the line that an interest rate hike would be dependent on incoming economic data, particularly on employment and inflation that is on course to achieve the Fed’s target. The October minutes also emphasised that the FOMC members wanted markets to focus more on the path of future rate hikes rather than the timing of the first increase.

US mortgage applications climbed in the last week

Mortgage applications in the US recorded a rise of 6.20% on a weekly basis, in the week ended 13 November 2015. Mortgage applications had registered a drop of 1.30% in the previous week.

US housing starts recorded a drop in October

Housing starts recorded a drop of 11.00%, on monthly basis, to an annual rate of 1060.00 K in the US, in October, compared to a revised level of 1191.00 K in the previous month. Markets were anticipating housing starts to ease to a level of 1160.00 K.

US building permits climbed in October

Building permits in the US rose 4.10%, on monthly basis, to an annual rate of 1150.00 K in October, higher than market expectations of 1147.00 K. Building permits had recorded a revised level of 1105.00 K in the previous month.

Bank of Japan held its key interest rate

The Bank of Japan held its key interest rate at 0.10%.

Japan recorded merchandise (total) trade surplus in October

In October, merchandise (total) trade surplus in Japan recorded a level of ¥111.50 billion, from a revised merchandise (total) trade deficit of ¥115.80 billion in the previous month. Markets were expecting the country’s merchandise (total) trade deficit to rise to ¥250.60 billion.

Japanese adjusted merchandise trade deficit narrowed in October

Adjusted merchandise trade deficit in Japan dropped to ¥202.30 billion in October, compared to market expectations of an adjusted merchandise trade deficit of ¥377.40 billion. Japan had posted a revised adjusted merchandise trade deficit of ¥309.80 billion in the previous month.

Japanese exports fell more than expected in October

Japan Customs has reported that, on a YoY basis, exports eased 2.10% in Japan, in October, compared to a revised rise of 0.50% in the previous month. Market anticipation was for exports to ease 2.00%.

Japanese imports fell more than expected in October

Imports recorded a drop of 13.40% on an annual basis in October, in Japan, higher than market expectations for a drop of 8.90%. In the prior month, imports had recorded a revised drop of 11.00%.

Foreign investors remained net buyers of Japanese bonds in the previous week

Foreign investors remained net buyers of ¥245.40 billion worth of Japanese bonds in the week ended 13 November 2015, from being net buyers of ¥56.00 billion worth of Japanese bonds in the previous week.

Japanese investors turned net buyers of foreign stocks in the previous week

Japanese investors turned net buyers of ¥12.40 billion worth of foreign stocks in the week ended 13 November 2015, as compared to being net sellers of a revised ¥33.80 billion worth of foreign stocks in the previous week.

Foreign investors became net buyers of Japanese stocks in the previous week

Foreign investors remained net buyers of ¥327.90 billion worth of Japanese stocks in the week ended 13 November 2015, as compared to being net buyers of a revised ¥170.70 billion worth of Japanese stocks in the previous week.

Japanese investors remained net buyers of foreign bonds in the previous week

Japanese investors were net buyers of ¥871.00 billion worth of foreign bonds in the week ended 13 November 2015, from being net buyers of a revised ¥1034.90 billion worth of foreign bonds in the prior week.

Chinese MNI business sentiment index declined in November

In November, the MNI business sentiment index in China registered a drop to 49.90. In the prior month, the MNI business sentiment index had registered a reading of 55.60.

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