Speaking virtually at a housing event Fed's Bostic speaking virtually at a housing event said: Needless to say the remarks are underwhelming. However, we will be on the lookout for any Q&A from the virtual event.
Blogs
BOJ continues with record ETF purchases today
The BOJ purchased another ¥201.6 billion worth of ETFs today here ForexLive
China Caixin PMI manufacturing rose to 50.1, but sector under double pressure
<p>China Caixin PMI manufacturing rose to 50.1 in March, up from 40.3, above expectation of 45.8. However, demand conditions remained fragile, as highlighted by a second monthly fall in total new business. A number of panel members also mentioned delay or cancellation in orders. New export work declined solidly sue to global spread of coronav
Japan Tankan large manufacturing dropped to -8, worst since 2013
<p>Japan’s Tankan large manufacturing index dropped to -8 in Q1, down from 0.That’s the first negative reading in seven years, lowest since March 2013, and the fifth straight decline. Large manufacturing outlook dropped from 0 to -11. Large non-manufacturing index also dropped from 20 to 8 while outlook dropped from 18 to -1. Larg
Australia AiG manufacturing surged to 53.7, somewhat surprising expansion
<p>Australia AiG Performance of Manufacturing Index jumped to 53.7 in March, up from 44.3. The reading indicates a return to growth after four months of contraction in the sector. AiG said: “This somewhat surprising expansion – in the midst of the escalating COVID-19 pandemic and emerging recession – is almost entirely due to a huge
RBA Minutes: Very material contraction in economic activity across Q1, Q2 and potentially longer
<p>In the minutes of March 18 meeting, RBA said that Australia would likely experience a “very material contraction in economic activity, which would spread across the March and June quarters and potentially longer.”. The size of contraction would depend on the “extent of the social distancing requirements, and potential loc
Fed Mester expects some really bad economic numbers, but it’s not a typical recession
<p>Cleveland Fed President Loretta Mester told CNBC it’s “not unrealistic” to see some “really bad economic numbers” in terms of unemployment and economic activity declining. However, she added that the current downturn is “not a typical recession” as it happened in an otherwise healthy economy brough
US consumer confidence dropped to 120, further declines sure to follow
<p>Conference Board US Consumer Confidence dropped to 120.0 in March, down from 132.6, but beat expectation of 115.1. Present Situation Index dropped from 169.3 to 167.7. Expectations Index, however, dropped sharply from 108.1 to 88.2. “Consumer confidence declined sharply in March due to a deterioration in the short-term outlook,”
Canada GDP grew 0.1% in Jan, coronavirus to have significant effect in Mar onward
<p>Canada GDP grew 0.1% mom in January, below expectation of 0.2% mom. Growth was recorded in agriculture and forestry, construction, manufacturing, wholesale, finance and insurance, and public sector. Other sectors contracted including mining and oil and gas extraction, utilities, retail, and transportation and warehousing. Statistics Canada
Eurozone CPI slowed to 0.7%, energy dropped -4.3%
<p>Eurozone CPI slowed to 0.7% yoy in March, down from 1.2% yoy, below expectation of 0.8% yoy. CPI core slowed to 1.0% yoy, down from 1.2% yoy, below expectation of 1.1% yoy. Looking at the main components, food, alcohol & tobacco rose 2.4% yoy, services rose 1.3% yoy, non-energy industrial goods rose 0.5% yoy. Energy […]