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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
German trade surplus narrowed in December
Germany has reported the seasonally adjusted trade surplus of €18.70 billion in December, following a revised trade surplus of €22.70 billion in the previous month. Markets were expecting the nation to register a trade surplus of €20.50 billion.
German imports remained flat in December
On a MoM basis, the seasonally adjusted imports remained flat in December, in Germany, more than market expectations for a fall of 1.10%. Imports had risen 3.50% in the previous month.
German exports declined more than expected in December
On a MoM basis, the seasonally adjusted exports fell 3.30% in Germany, in December, compared to an advance of 3.90% in the previous month. Market expectation was for exports to drop 1.30%.
German current account surplus dropped in December
In December, the non-seasonally adjusted current account surplus in Germany fell to €24.00 billion, following a revised current account surplus of €25.00 billion in the prior month. Market expectation was for the nation’s current account surplus to drop to €24.80 billion.
Swiss unemployment rate advanced in January
The non-seasonally adjusted unemployment rate climbed to 3.70% in January, in Switzerland, compared to market expectations of an advance to 3.60%. In the prior month, unemployment rate had recorded a reading of 3.50%.
Swiss unemployment rate remained unchanged in January
In January, the seasonally adjusted unemployment rate in Switzerland remained steady at 3.30%, meeting market expectations.
Fed’s Bullard sees rates likely remaining low in 2017
The St. Louis Federal Reserve (Fed) Bank President, James Bullard, stated that interest rates can likely remain low through at least 2017, with no clear sense yet of whether the Trump administration’s policies will spark higher inflation or growth in the US economy. He further added that he favors only one interest rate hike for this year and wouldn’t speculate on when it might occur.
Fed’s Evans sees three rate hikes in 2017
The Chicago Fed President, Charles Evans, reiterated his support for gradual interest rate hikes and stated that he expects the Fed to raise interest rates three times this year as he expects an economic boost from the US President, Donald Trump’s planned fiscal policies.
US continuing jobless claims climbed unexpectedly in the last week
The seasonally adjusted continuing jobless claims in the US climbed unexpectedly to 2078.00 K in the week ended 28 January 2017, compared to a revised level of 2063.00 K in the prior week. Market expectation was for continuing jobless claims to ease to 2058.00 K.
US initial jobless claims dropped surprisingly in the last week
In the week ended 04 February 2017, the seasonally adjusted initial jobless claims registered an unexpected drop to a level of 234.00 K in the US, compared to a level of 246.00 K in the prior week. Market expectation was for initial jobless claims to rise to 249.00 K.
US wholesale inventories advanced as expected in December
On a MoM basis, the seasonally adjusted final wholesale inventories in the US climbed 1.00% in December, compared to a similar rise in the previous month. The preliminary figures had also indicated a rise of 1.00%. Market expectation was for the wholesale inventories to climb 1.00%.
Canadian new housing price index advanced less than expected in December
On an annual basis, the new housing price index in Canada rose 3.00% in December, lower than market expectations for a rise of 3.10%. In the previous month, the new housing price index had registered a similar rise.
Canadian new housing price index advanced less than expected in December
In December, on a monthly basis, the new housing price index rose 0.10% in Canada, less than market expectations for an advance of 0.20%. In the previous month, the new housing price index had advanced 0.20%.
Japanese domestic corporate goods price index rose unexpectedly in January
The domestic corporate goods price index in Japan unexpectedly climbed 0.50% on an annual basis in January, compared to a fall of 1.20% in the prior month. Market anticipation was for the domestic corporate goods price index to remain unchanged.
Japanese machine tool orders rose in January
In Japan, the flash machine tool orders registered a rise of 3.50% in January on a YoY basis. In the previous month, machine tool orders had risen 4.40%.
Japanese domestic corporate goods price index rose more than expected in January
The domestic corporate goods price index recorded a rise of 0.60% on a monthly basis in Japan in January, more than market expectations for a rise of 0.20%. In the prior month, the domestic corporate goods price index had climbed by a revised 0.70%.
Chinese trade surplus rose in January
Trade surplus in China expanded to $51.35 billion in January, from a revised trade surplus of $40.71 billion in the prior month. Market expectation was for the nation to post a trade surplus of $48.50 billion.
Chinese exports advanced more than expected in January
On a YoY basis, exports rose 7.90% in China, in January, compared to a revised fall of 6.20% in the previous month. Market anticipation was for exports to climb 3.20%.
Chinese imports advanced more than expected in January
On a YoY basis in January, imports advanced 16.70% in China, more than market expectations for an advance of 10.00%. Imports had advanced 3.10% in the previous month.
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