Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded


Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place. The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29. Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. The on-shore yuan traded
Asia markets: Brexit deal, pound and China economic data in focus Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


Asia markets: Brexit deal, pound and China economic data in focus

Asia Pacific markets traded mixed on Thursday after data showed growth in China’s industrial output fell. Overnight, British lawmakers rejected the idea of leaving the European Union without a Brexit deal in place.

The Nikkei 225 in Japan gave up its gains to finish flat at 21,287.02 while the Topix index fell 0.24 percent to 1,588.29.

In South Korea, the Kospi wavered between gains and losses to close up 0.34 percent at 2,155.68. Hong Kong’s Hang Seng Index was down 0.22 percent in afternoon trade.

Chinese mainland shares withdrew as the Shanghai composite fell 1.2 percent to 2,990.68 while the Shenzhen composite tumbled 2.311 percent.

Data on Thursday showed China’s industrial output growth fell to a 17-year low in the first two months of the year, according to Reuters. That further pointed to an economic slowdown in the world’s second-largest economy. But investments picked up pace as the government fast-tracked more road and rail projects, the news agency added.

Beijing has already pledged hundreds of billions of dollars in tax cuts and infrastructure spending to support the flagging economy.

The on-shore yuan traded at 6.7134 to the dollar at 2:44 p.m. HK/SIN after the People’s Bank of China set the day’s yuan midpoint at 6.7009. China’s central bank allows the currency exchange rate to rise or fall 2 percent from the midpoint rate.

Australia’s benchmark ASX 200 closed up 0.3 percent at 6,179.60.


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: saheli roy choudhury, toshifumi kitamura, afp, getty images
Keywords: news, cnbc, companies, markets, fell, economic, china, asia, showed, midpoint, data, growth, brexit, focus, deal, traded, pound, output, industrial, chinas, index, yuan


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Dow futures drop more than 150 points, dragged down by Boeing

S&P 500 and Nasdaq 100 rose slightly, however, indicating gains of at least 0.2 percent at the open. Monday’s moves come after the major indexes posted their worst weekly performances of 2019 amid growing concerns of a possible economic slowdown around the world. Data on Friday showed the world’s largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017. Meanwhile, data out of China last week showed its


S&P 500 and Nasdaq 100 rose slightly, however, indicating gains of at least 0.2 percent at the open. Monday’s moves come after the major indexes posted their worst weekly performances of 2019 amid growing concerns of a possible economic slowdown around the world. Data on Friday showed the world’s largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017. Meanwhile, data out of China last week showed its
Dow futures drop more than 150 points, dragged down by Boeing Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: spriha srivastava
Keywords: news, cnbc, companies, world, zone, wiping, showed, jobs, dragged, economy, et, points, boeing, dow, worst, drop, worlds, data, 150, futures


Dow futures drop more than 150 points, dragged down by Boeing

S&P 500 and Nasdaq 100 rose slightly, however, indicating gains of at least 0.2 percent at the open.

Monday’s moves come after the major indexes posted their worst weekly performances of 2019 amid growing concerns of a possible economic slowdown around the world. Data on Friday showed the world’s largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017.

Meanwhile, data out of China last week showed its exports slumped 20.7 percent from a year earlier, far below analysts’ expectations and wiping out a surprise jump in January.

These figures all came less than 24 hours after the European Central Bank slashed its growth forecasts for the euro zone and announced a new round of policy stimulus.

On Sunday, Fed Chair Powell told “60 Minutes” that he thinks the U.S. economy is still strong, though he acknowledged that weakness around the world could start to hit the U.S.

“I would say there’s no reason why this economy cannot continue to expand,” he said.

Meanwhile, investors will keep an eye on more data out Monday, with retail sales out at 8:30 a.m. ET and business inventories at 10 a.m. ET.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: spriha srivastava
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US Treasury yields move higher after Powell comments

Last week, data showed the world’s largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017. The data come amid growing concern about the global economy. Data out of China last week showed its exports slumped 20.7 percent from a year earlier, far below analyst expectations and wiping out a surprise jump in January. On Monday, investors will keep an eye on more data out Monday, with retail sales out at


Last week, data showed the world’s largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017. The data come amid growing concern about the global economy. Data out of China last week showed its exports slumped 20.7 percent from a year earlier, far below analyst expectations and wiping out a surprise jump in January. On Monday, investors will keep an eye on more data out Monday, with retail sales out at
US Treasury yields move higher after Powell comments Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: matt clinch
Keywords: news, cnbc, companies, yields, showed, jobs, week, economy, powell, treasury, billion, comments, notes, worlds, data, worth, world, higher


US Treasury yields move higher after Powell comments

Last week, data showed the world’s largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017.

The data come amid growing concern about the global economy. Data out of China last week showed its exports slumped 20.7 percent from a year earlier, far below analyst expectations and wiping out a surprise jump in January.

On Sunday, Fed Chair Powell told “60 Minutes” that he thinks the U.S. economy is still strong, though he acknowledged that weakness around the world could start to hit the U.S.

“I would say there’s no reason why this economy cannot continue to expand,” he said.

On Monday, investors will keep an eye on more data out Monday, with retail sales out at 8:30 a.m. ET and business inventories at 10:00 a.m. ET.

Also on Monday, the Treasury is set to auction $48 billion worth of 13-week notes, $39 billion worth of 26-week notes and $38 billion worth of three-year notes.

—CNBC’s Spriha Srivastava contributed to this article.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: matt clinch
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Australia dollar skids as the economy slows sharply

Australia’s economy slowed sharply in the second half of last year as consumers shut their wallets and housing construction pulled back, data showed on Wednesday, sending the local currency to a two-month trough. The gross domestic product (GDP) figures showed the A$1.8 trillion ($1.32 trillion) economy expanded 0.2 percent in the fourth quarter, slower than the 0.3 percent increase economists had forecast in a Reuters poll. The disappointing outcome sent the Australian dollar down 0.4 percent t


Australia’s economy slowed sharply in the second half of last year as consumers shut their wallets and housing construction pulled back, data showed on Wednesday, sending the local currency to a two-month trough. The gross domestic product (GDP) figures showed the A$1.8 trillion ($1.32 trillion) economy expanded 0.2 percent in the fourth quarter, slower than the 0.3 percent increase economists had forecast in a Reuters poll. The disappointing outcome sent the Australian dollar down 0.4 percent t
Australia dollar skids as the economy slows sharply Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: brendon thorne, bloomberg, getty images
Keywords: news, cnbc, companies, sharply, outcome, australia, wednesdays, dollar, data, growth, trillion, slows, twomonth, skids, countrys, spending, gdp, showed, economy


Australia dollar skids as the economy slows sharply

Australia’s economy slowed sharply in the second half of last year as consumers shut their wallets and housing construction pulled back, data showed on Wednesday, sending the local currency to a two-month trough.

The gross domestic product (GDP) figures showed the A$1.8 trillion ($1.32 trillion) economy expanded 0.2 percent in the fourth quarter, slower than the 0.3 percent increase economists had forecast in a Reuters poll. Third-quarter growth was unrevised at 0.3 percent.

Annual GDP rose a below-trend 2.3 percent, the slowest since mid-2017 and confounding expectations for a 2.5 percent increase.

The dismal figures challenge the optimism of the country’s central bank, which expects growth to pick up to around 3 percent this year. The data also raises questions over whether the country’s recession-free run of 27 years is losing steam.

The disappointing outcome sent the Australian dollar down 0.4 percent to a two-month low of $0.7052.

A major setback in Wednesday’s data came from private consumption, which contributed just 0.2 percent to overall growth as households cut back on spending. The category accounts for about 57 percent of Australia’s GDP.

An escalating decline in Sydney and Melbourne home prices has eaten into consumer wealth at a time when they hold record levels of mortgage debt. A long stretch of unusually slow wages growth has also throttled household incomes, and shows few signs of changing anytime soon.

The sharper-than-expected downturn in the country’s once-booming property market has become a significant point of uncertainty for the Reserve Bank of Australia (RBA), which cut its growth and inflation forecasts last month and moved away from a previous tightening bias.

A decline in dwelling construction was one reason for the soft fourth-quarter outcome, while government spending was the only silver lining in Wednesday’s report.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: brendon thorne, bloomberg, getty images
Keywords: news, cnbc, companies, sharply, outcome, australia, wednesdays, dollar, data, growth, trillion, slows, twomonth, skids, countrys, spending, gdp, showed, economy


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China economy: February Caixin manufacturing Purchasing Managers Index

A private survey on China’s manufacturing sector showed Friday that factory activity shrank for a third straight month in February. However, it showed that manufacturing activity in February remained around contractionary levels not seen since early 2016. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. The official manufacturing gauge also hit a three-year low. Still, averaging the indices for January and February showed


A private survey on China’s manufacturing sector showed Friday that factory activity shrank for a third straight month in February. However, it showed that manufacturing activity in February remained around contractionary levels not seen since early 2016. The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. The official manufacturing gauge also hit a three-year low. Still, averaging the indices for January and February showed
China economy: February Caixin manufacturing Purchasing Managers Index Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-01  Authors: huileng tan, vcg, visual china group, getty images
Keywords: news, cnbc, companies, index, showed, reading, manufacturing, private, pmi, economic, purchasing, caixin, official, economy, china, month, survey, managers, activity


China economy: February Caixin manufacturing Purchasing Managers Index

A private survey on China’s manufacturing sector showed Friday that factory activity shrank for a third straight month in February.

The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 49.9 for February — higher than January’s reading of 48.3, and better than the 48.5 that economists polled by Reuters had forecast.

However, it showed that manufacturing activity in February remained around contractionary levels not seen since early 2016. A reading below 50 signals contraction, while a reading above that level indicates expansion.

The Caixin PMI is a private survey focused on smaller businesses and offers a first glimpse into the operating environment. It is closely watched as an alternative to the official PMI.

“Domestic manufacturing demand improved significantly, and foreign demand was not deteriorating as quickly as last year,” wrote Zhengsheng Zhong, director of macroeconomic analysis at CEBM Group, a subsidiary of Caixin.

Still, new export orders slipped back into contractionary territory, he noted.

The results of the private survey came on the heels of official PMI China released on Thursday which showed manufacturing activity fell for the third straight month, dropping to 49.2 in February from 49.5 in January, according to data released by the country’s National Bureau of Statistics. The official manufacturing gauge also hit a three-year low.

The two surveys offered mixed signals about the strength of the manufacturing cycle in February as the private poll offered some hope that there was uptick in activity from the month before.

“But on balance, they remain consistent with our expectation for a further slowdown in economic growth in Q1,” wrote Julian Evans-Pritchard, senior China economist at Capital Economics, in a note on Friday.

“The sharp movements in the Caixin PMI during the past two months hint at possible residual seasonality caused by shifts in the timing of Chinese New Year,” Evans-Pritchard added. The week-long public holidays in China started in early February this year.

Still, averaging the indices for January and February showed activity still looked to have softened at the start of 2019, he added.

“The upshot is that it is probably too soon to call the bottom of the current economic cycle. Indeed, we expect growth to continue to come under pressure until the middle of this year,” Evans-Pritchard wrote.

Investors have been closely watching economic indicators from the world’s second-largest economy for signs of trouble amid domestic headwinds and the ongoing U.S.-China trade dispute.

The manufacturing data come days before China’s annual meeting of parliament which starts on March 5. Top officials are widely expected to announce more support measures such as sweeping tax cuts to reduce the strains on the economy.

Chinese leaders will also reveal Beijing’s key economic and financial targets for the year which may provide clues on their future policy stance.

Actual growth in the world’s second-largest economy cooled to 6.6 percent in 2018 — the slowest in 28 years — from 6.8 percent in 2017.

— CNBC’s Yen Nee Lee and Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-03-01  Authors: huileng tan, vcg, visual china group, getty images
Keywords: news, cnbc, companies, index, showed, reading, manufacturing, private, pmi, economic, purchasing, caixin, official, economy, china, month, survey, managers, activity


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Italy’s M5S could be headed for ‘political disaster’ after regional collapse

Regional election results for the Five Star Movement (M5S) have cast a shadow over the party and the wider coalition government in charge of Italy. A regional election on Sunday in Sardinia — a former M5S stronghold — showed that support for the party continues to fall dramatically since the general election in March 2018. The party and its leader Luigi Di Maio have failed to make their mark in government over the last year, when compared with the populist Lega party and its vociferous leader Ma


Regional election results for the Five Star Movement (M5S) have cast a shadow over the party and the wider coalition government in charge of Italy. A regional election on Sunday in Sardinia — a former M5S stronghold — showed that support for the party continues to fall dramatically since the general election in March 2018. The party and its leader Luigi Di Maio have failed to make their mark in government over the last year, when compared with the populist Lega party and its vociferous leader Ma
Italy’s M5S could be headed for ‘political disaster’ after regional collapse Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-26  Authors: holly ellyatt, simona granati – corbis, corbis news, getty images
Keywords: news, cnbc, companies, disaster, received, headed, regional, italys, party, collapse, m5s, coalition, showed, sardinia, political, vote, election, lega


Italy's M5S could be headed for 'political disaster' after regional collapse

Regional election results for the Five Star Movement (M5S) have cast a shadow over the party and the wider coalition government in charge of Italy.

A regional election on Sunday in Sardinia — a former M5S stronghold — showed that support for the party continues to fall dramatically since the general election in March 2018.

Then, the grassroots anti-establishment movement confounded the establishment by gaining 32.6 percent of the national vote, the largest amount for a single party in Italy and above that of its coalition partner Lega (with 17.3 percent) which was then part of a right-wing coalition.

The party and its leader Luigi Di Maio have failed to make their mark in government over the last year, when compared with the populist Lega party and its vociferous leader Matteo Salvini.

In Sardinia last weekend, a coalition of center-right parties led by Christian Solinas, a member of the Lega, received 47 percent of the votes (although counting continues) and a center-left coalition received 33 percent. M5S fared badly and received just 9 percent of the vote, regional statistics showed Tuesday. To put the poor result into context, in the March 2018 election, M5S had received 42.5 percent of the vote in Sardinia.


Company: cnbc, Activity: cnbc, Date: 2019-02-26  Authors: holly ellyatt, simona granati – corbis, corbis news, getty images
Keywords: news, cnbc, companies, disaster, received, headed, regional, italys, party, collapse, m5s, coalition, showed, sardinia, political, vote, election, lega


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Coke just released an ad for its first new flavor variety in more than a decade

When Coca-Cola realized that people were drinking flavored sodas that were made by other manufacturers, it knew it should expand its range beyond Vanilla Coke and Cherry Coke. Earlier this month it announced the launch of Orange Vanilla Coke in North America, the first new flavor for its original drink in more than a decade. In the ad, a Coca-Cola truck drives along a freeway and ends up racing through city streets alongside an ice cream truck and one carrying oranges, according to industry webs


When Coca-Cola realized that people were drinking flavored sodas that were made by other manufacturers, it knew it should expand its range beyond Vanilla Coke and Cherry Coke. Earlier this month it announced the launch of Orange Vanilla Coke in North America, the first new flavor for its original drink in more than a decade. In the ad, a Coca-Cola truck drives along a freeway and ends up racing through city streets alongside an ice cream truck and one carrying oranges, according to industry webs
Coke just released an ad for its first new flavor variety in more than a decade Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: lucy handley, sipa, ap images
Keywords: news, cnbc, companies, decade, flavor, flavored, vanilla, truck, released, showed, ad, orange, cocacola, coke, variety, drink, launched


Coke just released an ad for its first new flavor variety in more than a decade

When Coca-Cola realized that people were drinking flavored sodas that were made by other manufacturers, it knew it should expand its range beyond Vanilla Coke and Cherry Coke.

Earlier this month it announced the launch of Orange Vanilla Coke in North America, the first new flavor for its original drink in more than a decade. On Monday, Coke released a commercial for the drink, based around a 1970s car chase movie theme, coinciding with its store rollout.

In the ad, a Coca-Cola truck drives along a freeway and ends up racing through city streets alongside an ice cream truck and one carrying oranges, according to industry website Ad Age. The three vehicles look like they are going to crash, before being stopped by a crossing guard. A can of the new drink rolls towards her and she takes a sip.

Coca-Cola researched the new flavor alongside three others: raspberry, lemon and ginger, it said in an online article, but the combination of orange and vanilla was the favorite. “We wanted to bring back positive memories of carefree summer days,” said Coca-Cola Brand Director Kate Carpenter. “That’s why we leaned into the orange-vanilla flavor combination — which is reminiscent of the creamy orange popsicles we grew up loving.”

Cherry Coke launched in 1985, while Vanilla Coke launched in 2007. The company’s research showed that only 12 percent of Coca-Cola drinkers chose flavored beverages. “This showed us our fans want choice but are getting it outside the Coke Trademark,” Carpenter said.

There will also be a zero-sugar version of the new flavored drink and the campaign includes TV, social, digital, outdoor, mobile, radio and experiential marketing. It will also use events around the NCAA March Madness basketball tournament to push the new product.


Company: cnbc, Activity: cnbc, Date: 2019-02-25  Authors: lucy handley, sipa, ap images
Keywords: news, cnbc, companies, decade, flavor, flavored, vanilla, truck, released, showed, ad, orange, cocacola, coke, variety, drink, launched


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Bad economic news is bad for the stock market again with the Fed already on hold

Bad news for the economy is no longer good news for the stock market. So after a stream of negative economic data Thursday, traders saw little reason to bid up stocks on the hopes the Fed would ease up on policy . They’re certainly going to use their balance sheet as a stealth stimulus, and the stock market just had a significant run,” said Art Hogan, chief market strategist at National Securities. The stock market on Thursday slumped after a string of reports that missed expectations. The decli


Bad news for the economy is no longer good news for the stock market. So after a stream of negative economic data Thursday, traders saw little reason to bid up stocks on the hopes the Fed would ease up on policy . They’re certainly going to use their balance sheet as a stealth stimulus, and the stock market just had a significant run,” said Art Hogan, chief market strategist at National Securities. The stock market on Thursday slumped after a string of reports that missed expectations. The decli
Bad economic news is bad for the stock market again with the Fed already on hold Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: patti domm, adam jeffery
Keywords: news, cnbc, companies, stock, fed, negative, bad, showed, economic, market, yields, hold, going, data


Bad economic news is bad for the stock market again with the Fed already on hold

Bad news for the economy is no longer good news for the stock market.

The Federal Reserve is now on hold, and indicated clearly in minutes from its last meeting released Thursday that it will not only stop raising interest rates for now but stop shrinking its balance sheet in the second half of the year, potentially giving a boost to markets.

So after a stream of negative economic data Thursday, traders saw little reason to bid up stocks on the hopes the Fed would ease up on policy .

“I think we’re at a precipice, where the intentions of the Fed are well known. So they’re on pause until the data improves. They’re certainly going to use their balance sheet as a stealth stimulus, and the stock market just had a significant run,” said Art Hogan, chief market strategist at National Securities.

The stock market on Thursday slumped after a string of reports that missed expectations. December’s durable goods showed a surprise slowdown in business spending. The Philadelphia Fed manufacturing survey fell to negative 4.1, the first negative number since May, 2016 and the biggest drop since August, 2011. Markit PMI data also showed manufacturing activity at the slowest pace in 17 months.

Previously bad data like that might have sent stocks higher. “It helped drive our perception of monetary policy because it was going to influence the Fed’s pivot. Now, the Fed has made their pivot. We know where they stand and incrementally bad news is not going to change their position,” Hogan said.

Some really bad data , however, could have a negative effect. The Dow fell 104 points a week ago Thursday, after December’s retail sales report showed a sudden, unexpected drop of 1.2 percent in spending, at a time when consumers should have been shopping for holiday gifts. Some economists wrote off the number as suspect, but it still rattled markets and sent Treasury yields lower. Yields move opposite price.

The declines on negative economic reports have been modest, relative to recent rallies. But if the data continues to be negative and worsens, it could stir more fears of recession.

“The loss of economic momentum appears to have carried over into the first quarter. In light of both a quiescent inflation backdrop and a projected downshift in GDP, imply an increased likelihood that the Fed’s next move in interest rates is lower,” wrote Joseph Lavorgna, chief economist for the Americas at Natixis.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: patti domm, adam jeffery
Keywords: news, cnbc, companies, stock, fed, negative, bad, showed, economic, market, yields, hold, going, data


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Closely watched Atlanta Fed GDP model now sees growth at just 1.4 percent for fourth quarter

The Atlanta Fed’s closely watched GDPNow model sees GDP growth for the fourth quarter at 1.4 percent. The forecast had been 1.5 percent but was ratcheted down after Thursday’s December durable goods report showed a decline in capital expenditures. Economists surveyed by CNBC/Moody’s Analytics Rapid Update earlier Thursday had a mean expectation for fourth quarter growth of 2 percent, following the durable goods report. Earlier, J.P. Morgan economists reduced tracking growth for the fourth quarte


The Atlanta Fed’s closely watched GDPNow model sees GDP growth for the fourth quarter at 1.4 percent. The forecast had been 1.5 percent but was ratcheted down after Thursday’s December durable goods report showed a decline in capital expenditures. Economists surveyed by CNBC/Moody’s Analytics Rapid Update earlier Thursday had a mean expectation for fourth quarter growth of 2 percent, following the durable goods report. Earlier, J.P. Morgan economists reduced tracking growth for the fourth quarte
Closely watched Atlanta Fed GDP model now sees growth at just 1.4 percent for fourth quarter Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: patti domm, timothy aeppel
Keywords: news, cnbc, companies, durable, growth, sees, closely, decline, report, quarter, showed, model, sales, retail, gdp, atlanta, goods, fed, fourth, watched


Closely watched Atlanta Fed GDP model now sees growth at just 1.4 percent for fourth quarter

The Atlanta Fed’s closely watched GDPNow model sees GDP growth for the fourth quarter at 1.4 percent.

The forecast had been 1.5 percent but was ratcheted down after Thursday’s December durable goods report showed a decline in capital expenditures. The Atlanta Fed said its nowcast of fourth-quarter real nonresidential equipment investment growth declined to 3.9 percent from 4.5 percent.

Economists surveyed by CNBC/Moody’s Analytics Rapid Update earlier Thursday had a mean expectation for fourth quarter growth of 2 percent, following the durable goods report.

Earlier, J.P. Morgan economists reduced tracking growth for the fourth quarter to 1.4 percent from 1.6 percent. Expecting slowness to persist, they trimmed first quarter growth to 1.5 percent from 1.75 percent.

The durable goods report follows last week’s late release of December retail sales, which showed a decline of 1.2 percent. Together the durable goods and retail sales reported amounted to as much as an 0.8 percentage point decline in GDP forecasts.


Company: cnbc, Activity: cnbc, Date: 2019-02-21  Authors: patti domm, timothy aeppel
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Dollar slips on US-China trade hopes, Swedish crown sags

“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45. Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year. The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a


“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45. Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year. The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a
Dollar slips on US-China trade hopes, Swedish crown sags Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: matt cardy i getty images
Keywords: news, cnbc, companies, sags, swedish, uschina, hopes, crown, euro, data, showed, currencies, inflation, slips, currency, fell, major, dollar, trade


Dollar slips on US-China trade hopes, Swedish crown sags

The dollar on Tuesday fell against a basket of other currencies as traders scaled back their safe-haven greenback holdings on optimism that a fresh round of talks between China and the United States would help resolve their trade conflict.

The dollar index hit a near two-month peak on Friday after last week’s set of negotiations in Beijing failed to result in a deal, although officials from both sides said the talks had produced progress on contentious issues.

“We are hoping to hear more positive news on trade,” said Dean Popplewell, chief currency strategist at Oanda in Toronto. “The dollar should come under pressure as it loses some safe-haven appeal.”

The ICE index, which tracks the dollar against six other major currencies, was down 0.47 percent at 96.45.

On Friday, it hit 97.368, which was the highest since Dec. 17. U.S. financial markets were closed on Monday for the Presidents Day holiday.

Among other major currencies, the Swedish crown tumbled after weak inflation data spurred sales of the currency and a paring of bets that interest rates would rise this year.

Last week, the crown rose after Sweden’s central bank broke with growing caution among major monetary-policy makers, saying it would stick to its plan to raise rates in the second half of 2019.

The currency plunged more than 1 percent to a two-year low against the dollar at 9.4180, after a report showed inflation slowed in January.

Against the euro, it was headed for its biggest daily decline in more than 15 months. It touched 10.621, its weakest since September.

The euro appreciated against the dollar on trade optimism. It reversed earlier losses after data showed Italian industrial orders dropped 5.3 percent in December from a year earlier.

Euro zone bond yields, notably those of German bunds, fell amid the cloudy European economic outlook, weighing on the euro. When European Central Bank policymakers meet on March 7, they are expected to lower growth and inflation projections.

The euro was up 0.37 percent at $1.135, holding above a three-month low of $1.1234 set last week.

The single currency, however, fell against the British pound as data showed domestic workers’ salaries held at its fastest pace in a decade in late 2018.

The euro was 0.62 percent lower at 86.99 pence, while the pound was up 1.08 percent at $1.306. The sterling’s gains were limited ahead of British Prime Minister’s Theresa May’s meeting with the EU to find a way to get their Brexit deal through the UK parliament.


Company: cnbc, Activity: cnbc, Date: 2019-02-19  Authors: matt cardy i getty images
Keywords: news, cnbc, companies, sags, swedish, uschina, hopes, crown, euro, data, showed, currencies, inflation, slips, currency, fell, major, dollar, trade


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