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October 29, 2024 10:09 AM UTC
A fourth successive 25 bp rate cut (to 3.0%) is widely seen at the looming Riksbank meeting (Nov 7), with the risk that it may even be the 50 bp move that was hinted at as part of the two further cuts advertised at the last (September) meeting. What seems clear is that inflation worries have subsi
October 28, 2024 1:25 PM UTC
We expect an advance September goods trade deficit of $101.0bn, in a rebound from August’s sharply narrower $94.2bn which corrected a $102.2bn deficit in July, which was the widest since April 2022. This would leave Q3’s deficit wider than Q2’s but only marginally in real terms, implying a lim
October 28, 2024 11:41 AM UTC
Bottom Line: The BRICS Summit, which was held in Kazan on October 22-24, was the first summit following BRICS has expanded to include Ethiopia, Iran, Egypt and the United Arab Emirates. Despite expectations, Kazan deceleration, which was a joint statement signed after the summit, is not a game-chan
October 28, 2024 9:56 AM UTC
BoJ may not hike but is likely to sound hawkish
US employment report may be weak but weather affected
USD/JPY downside risks as yield spreads should shift in JPY’s favour
GBP may benefit even though the budget is likely to be looser than previously thought
October 27, 2024 10:00 PM UTC
BoJ may not hike but is likely to sound hawkish
US employment report may be weak but weather affected
USD/JPY downside risks as yield spreads should shift in JPY’s favour
GBP may benefit even though the budget is likely to be looser than previously thought
October 27, 2024 6:00 PM UTC
BoJ may not hike but is likely to sound hawkish
US employment report may be weak but weather affected
USD/JPY downside risks as yield spreads should shift in JPY’s favour
GBP may benefit even though the budget is likely to be looser than previously thought
October 25, 2024 5:40 PM UTC
Brazil’s fiscal data through August shows a primary deficit of 2.3% of GDP, with expenditure growth outpacing revenue gains despite efforts to increase government income. Social transfers and unemployment benefits contributed to rising expenditures, now at 20.2% of GDP. The Central Bank’s recent
October 25, 2024 2:14 PM UTC
We expect Canadian GDP to be unchanged in August, in line with the preliminary estimate made with July’s 0.2% increase. We expect a preliminary estimate for September for a 0.1% increase, which would suggest Q3 GDP could fall a little short of a 1.5% annualized forecast made by the Bank of Canada.
October 25, 2024 1:01 PM UTC
September durable goods orders fell by 0.8% in line with expectations with August revised down. Also to -0.8% from unchanged. The weakness of the headline however contrasts with a stronger than expected 0.5% rise ex transport, with August revised up to a 0.6% increase from 0.5%, hinting at underlyin
October 25, 2024 12:31 PM UTC
Bottom Line: Central Bank of Russia (CBR) announced on October 25 that it increased its policy rate by 200 bps to 21% to tame the stubborn price pressures stemming from high military spending, tight labour market and fiscal policy igniting domestic demand. CBR said in a press release that “Over th