Recap 3-05-14




  • US ADP declined to 139k vs 155k exp. The prior print was revised down to 127k from 175k. Several banks revised down their payrolls estimates for Friday.
  • BoC kept policy unchanged as exp.
  • Services PMI :
  1. UK : stable at 58.2 vs 58 exp
  2. EU : improved to 52.6 vs 51.7 prev. All countries’ prints were better than expected. Italy was the best, improving to 52.9 vs 49.9 exp and 49.4 prev
  3. US Non-Mfg ISM : declined to 51.6 vs 53.5 exp and 54 prev
  4. China HSBC Services : improved to 51.0 vs 50.7 prev
  5. Australia : improved to 55.2 vs 49.3 prev

Australia GDP rose 0.8% QoQ vs 0.6% prev

CAT’s CEO said on Tuesday several of the company’s biggest markets, including China and North America, were strengthening modestly. China was showing signs of a modest rebound. h/t Jordan

Upcoming Data:

  • Wed: Australia Trade Balance
  • Thu: BoE, ECB, Dudley Speaks, US Jobless Claims
  • Fri: US Employment, Canada Employment, Dudley Speaks, Bernanke Speaks
  • Weekend: China Trade Balance, PPI
  • Mon: Japan Current Account, Eco Watchers Survey, Canada Housing Starts, USDA Report, NAB Business Confidence
  • Tue: UK IP