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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB minutes showed discussion of an exit from monetary stimulus
The European Central Bank’s (ECB) June meeting minutes showed that policymakers discussed ending the central bank’s extraordinarily stimulatory monetary policy, but decided against it out of fear of causing market turmoil, as an economic recovery in the Eurozone had yet to result in higher inflation. However, they added that if confidence in the inflation outlook improved further, the so-called easing bias would be reviewed at future meetings.
German factory orders rose less than expected in May
In May, on a YoY basis, the non-seasonally adjusted factory orders climbed 3.70% in Germany, compared to a revised advance of 3.30% in the prior month. Markets were anticipating factory orders to climb 4.50%.
German factory orders rose less than expected in May
On a MoM basis in Germany, the seasonally adjusted factory orders climbed 1.00% in May, less than market expectations for a rise of 1.90%. Factory orders had registered a revised drop of 2.20% in the prior month.
Swiss CPI rose less than expected in June
On a YoY basis, in Switzerland, the consumer price index (CPI) advanced 0.20% in June, less than market expectations for an advance of 0.30%. In the prior month, the CPI had climbed 0.50%.
Swiss CPI unexpectedly slid in June
In Switzerland, the CPI unexpectedly eased 0.10% in June, on a monthly basis, lower than market expectations for a steady reading. In the previous month, the CPI had advanced 0.20%.
Swiss EU HICP rose in June
The EU harmonised consumer price index (HICP) registered a rise of 0.40% on a YoY basis, in June. The EU HICP had registered a similar rise in the prior month.
Swiss EU HICP remained steady in June
The EU harmonised consumer price index remained flat on a monthly basis, in June, in Switzerland. In the previous month, the EU HICP had dropped 0.20%.
Private sector employment in the US advanced in June
In the US, the private sector employment recorded an increase of 158.00 K in June, compared to a revised gain of 230.00 K in the previous month. Markets were expecting the private sector employment to rise 188.00 K.
US continuing jobless claims surprisingly climbed in the last week
The seasonally adjusted continuing jobless claims recorded an unexpected rise to a level of 1956.00 K in the week ended 24 June 2017, in the US, higher than market expectations of a fall to a level of 1940.00 K. In the previous week, continuing jobless claims had registered a revised level of 1945.00 K.
US initial jobless claims unexpectedly climbed in the last week
The seasonally adjusted initial jobless claims advanced unexpectedly to 248.00 K in the US, in the week ended 01 July 2017, higher than market expectations of a fall to a level of 243.00 K. In the prior week, initial jobless claims had registered a reading of 244.00 K.
US Markit services PMI unexpectedly rose in June
The final Markit services PMI in the US recorded an unexpected rise to 54.20 in June, higher than market expectations of a fall to 53.00. The preliminary figures had recorded a fall to 53.00. In the prior month, Markit services PMI had recorded a level of 53.60.
US number of planned layoffs by US companies slid in June
On a YoY basis, the number of planned layoffs by US companies in the US fell 19.30% in June. The number of planned layoffs by US companies had registered a rise of 9.70% in the previous month.
US Markit composite PMI dropped in June
The final Markit composite PMI in the US recorded a drop to 53.00 in June, compared to a reading of 53.60 in the previous month. The preliminary figures had also indicated a drop to 53.00.
US mortgage applications rose in the last week
On a weekly basis, mortgage applications registered a rise of 1.40% in the week ended 30 June 2017, in the US. In the previous week, mortgage applications had recorded a drop of 6.20%.
US number of planned layoffs by US companies dropped in June
In June, the number of planned layoffs by US companies in the US recorded a drop to 31.10 K. In the prior month, the number of planned layoffs by US companies had recorded a revised level of 33.10 K.
US non-manufacturing PMI unexpectedly rose in June
The non-manufacturing PMI in the US rose unexpectedly to a level of 57.40 in June, compared to a level of 56.90 in the prior month. Market anticipation was for the non-manufacturing PMI to ease to 56.50.
US trade deficit declined in May
Trade deficit in the US fell to $46.50 billion in May, from a trade deficit of $47.60 billion in the previous month. Market expectation was for the nation to record a trade deficit of $46.30 billion.
Canadian building permits rose more than expected in May
On a monthly basis, building permits climbed 8.90% in Canada, in May, compared to a revised advance of 0.50% in the previous month. Markets were expecting building permits to climb 1.00%.
Canadian international merchandise trade deficit widened in May
The international merchandise trade deficit in Canada widened to C$1.09 billion in May, compared to market expectations of a international merchandise trade deficit of C$0.50 billion. Canada had registered a revised international merchandise trade deficit of C$0.55 billion in the prior month.
Japanese labour cash earnings rose more than expected in May
In May, labour cash earnings in Japan climbed 0.70% on a YoY basis, compared to a rise of 0.50% in the previous month. Markets were expecting labour cash earnings to climb 0.40%.
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