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<p>US personal income grew 10.5% mom, or USD 1.97T in April, versus expectation of -7.0% mom decline. Spending, on the other hand, dropped -13.6% mom, or USD 1.89T, worse than expectation of -12.6% mom. Headline PCE price index slowed to 0.5% yoy, down from 1.3% yoy. Core PCE price index also dropped to 1.0% yoy, […]

<p>Markets are in mild risk off mode before weekly close, awaiting US President Donald Trump’s “interesting” and “powerful” measures on China. Though, this time, Euro is boosted as the strongest one, followed by Yen. Dollar and Swiss Franc are the weakest for today. Overall, Euro is staying as the best performer

<p>The Reserve Bank of Australia is scheduled to hold a policy meeting on Tuesday with an announcement expected at 05:30 GMT. A day later, the GDP growth estimate for the first quarter is due at 01:30 GMT, making it an important week for the very bullish looking Australian dollar. However, with the growth picture improving […]

<p>The coming week is action-packed, with three central bank meetings, the resumption of critical Brexit talks, and the release of the US jobs report. The ECB looks primed to expand its QE program but paradoxically, that may not hurt the euro. Neither the Reserve Bank of Australia nor the Bank of Canada is unlikely to […]

<p>We are encouraged by the signs that the virus is getting under the control in more advanced economies and the re-opening can start. We know from the experiences in Denmark and Norway that consumption can return rather quickly when the virus gets under control, the fear of catching COVID-19 declines and the economy starts to […]

<p>Following a 2.2% month-on-month contraction in March, personal income surged by 10.5% in April, well above market expectations for a 6.5% decline. The strength was due to the expanded unemployment insurance benefits and one-time checks from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which showed up in government social

<p>What might have been a decent start to the year was not to be. Although it came in the final few weeks of the quarter, the impact of the pandemic was already enough to drive a 8.2% (annualized) contraction in Q1. Nominal GDP, which includes the impact of price changes, didn’t fare much better, contracting […]

<p>GDP declined 7.2% in March and 8.2% (annualized rate) in Q1 Advance April GDP estimate at -11% Two-month drop 3 1/2 times cumulative GDP decline in 2008/09 Better news expected going forward – April potentially the trough of current GDP cycle An unprecedented drop in GDP in the wake of COVID-19 containment measures kicked off [&helli

<p>We’re seeing a far more cautious tone at the end of the week as deteriorating relations between the US and China weigh on sentiment. Trump is due to hold a press conference on China today, which will likely involve laying out the country’s response to the National People’s Congress passing of the controverial security bil

<p>The S&P 500 futures remain under pressure after they erased gains to close in the red yesterday, as President Donald Trump announced plans to hold a press conference on China. Beijing has just passed a controversial national security law which is widely expected to erode Hong Kong’s autonomy. Later today, Wholesale Inventories (