Recap : No Updates for a Couple Weeks


Due to a family event, I will not be sending any updates for a couple weeks. Good luck everyone!


  • US ADP Employment declined to 179k vs 210k exp and 220k prev
  • Services PMI:
  1. US ISM Non-Mfg: increased to 56.3 vs 55.5 exp and 55.2 prev
  2. UK: stable at 58.6 vs 58.2 exp and 58.7 prev
  3. Italy: increased to 51.6 vs 51.4 exp and 51.1 prev
  4. EU: revised lower to 53.2 vs 53.5 exp and prev
  5. Australia: increased to 49.9 vs 48.6 prev
  6. Japan: increased to 49.3 vs 46.4 prev

BoC did not surprise Australia GDP rose 1.1% QoQ in 1Q vs 0.9% exp and 0.8% prev. GS: Growth in the quarter was overwhelmingly sourced from the mining sector. The 4.8% qoq surge in export volumes drove the largest contribution to growth from net exports since the financial crisis… Despite a healthy 0.3ppt contribution from the housing sector (the strongest since 2Q02), consumption was moderate, public demand weak and inventory destocking significant. The net result was that non-mining economic growth expanded just 0.1% qoq and 1.9% yoy US Vehicle Sales rose to 16.7M in May vs 16.1M exp and 16.0M prev Upcoming Data:

  • Wed: Australia Trade Balance, HSBC Services PMI
  • Thu: BoE, ECB, Canada Building Permits, US Jobless Claims,
  • Fri: German Current Account, UK Trade Balance, US Employment Canada Employment
  • Weekend: China Trade Balance, Japan BoP, Eco Watchers Survey,
  • Mon: UK Lloyds Employment Confidence, CA Housing Starts, China CPI, AU Business Confidence, Home Loans, NZ House Prices, Sales, PMI, China Money Supply
  • Tue: US NFIB Survey,

2 thoughts on “Recap : No Updates for a Couple Weeks

Comments are closed.