FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Overnight, we got end-of-the month statistics from Japan. While there was a positive report in the form of stronger than expected household spending for the month of June, a rise in the unemployment rate and a drop in industrial production dampened any enthusiasm for the Japanese economy. The unemployment rate for June unexpectedly rose to 5.3% from 5.2%. That is a seven-month high for the jobless rate. A second report showed that factory output – industrial production – was down 1.5% for the

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Canadian economy slowing in Q2 Latest: 0.1% (actual) +0.2% (expected) Previous: 0.0% (no revision) FACTS: Real GDP increased 0.1% in May after remaining essentially unchanged one-month earlier. Activity was up in the goods producing sector (+0.6%), marking a ninth consecutive monthly increase. The mining and oil & gas extraction (+3.4%) and agriculture (+1.3%) industries were the top performers among goods-producing industries while construction (-1.6%) and utilities (-0.5%) lagged.

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Today’s GDP data is another piece of data that underwhelmed, and adds to the string of releases casting a long shadow over the US recovery. It’s a good snapshot of where the economy is right now as it showed that consumer spending is adding less to growth, while business spending on investment actually picked up. It therefore shows the contrast between companies that may be seeing better revenue and potential profits, but that is not translating to more jobs and confident consumers willing to

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Rising in line with expectations, the second quarter Employment Cost Index, a measure of total employee compensation, increased 0.5 percent. The sluggish recovery should keep labor cost pressures under control. Benefits Growth Slows in Q2 The Employment Cost Index (ECI) increased at a slower pace in the second quarter as the benefits component flattened out following an unusually large jump in the first quarter. Wages and salaries grew 0.4 percent for private sector workers, matching the rate

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Real GDP grew at a 2.4 percent pace in the second quarter. Most of the strength was in the early part of the quarter and the economy is thought to have lost momentum more recently. Less Strength Than Meets The Eye Real GDP grew at a respectable 2.4 percent pace during the second quarter, which was precisely in line with our forecast. Data were revised for the past three years and the new data show the recession was a little deeper than first reported, with real GDP declining 4.1 percent over

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The Federal Reserve’s Beige Book reported a modest improvement in economic activity since that last release on June 9. These results are in line with our expectation of GDP growth in 3Q10, but at a slower pace. The labor market is improving, but gradually. Many districts reported increased demand for temporary hires, which indicates that businesses are still hesitant to commit to full-time employees. Hiring was also reported in the manufacturing and healthcare industries, but Dallas reported

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

US initial jobless claims in the week ending July 24 fell 11,000 to 457,000, in line with forecast, from the previous week’s upwardly revised 468,000, according to figures from the Labor Department. The 4-week moving average declined 4,500 to 452,500, the lowest level since May 8. Continuing claims in the week ending July 17 rose 81,000 to 4,565,000 from the preceding week’s downwardly revised 4,484,000. The 4-week moving average of those continuing claims fell 18,000 to 4,548,250. The insured

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

US durable goods orders unexpectedly fell 1.0% m/m to $190.5 billion in June, a second consecutive monthly fall, after a revised 0.8% m/m decrease in May, data from the Commerce Department showed. Excluding transportation, durable goods orders slid 0.6% m/m to $144.6 billion, the second decline in three months, following May’s upwardly revised 1.2% m/m gain. Durable goods orders rose 15.9% y/y nsa in June; ex-transportation orders rose 15.0% y/y nsa. Shipments of non-defense capital goods

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

This morning’s report on durable goods manufacturers’ shipments and orders showed a 1.0% decrease in new orders in June and a 0.7% drop for shipments. Should we be ringing the bell of a double-dip scenario for corporate investment? In fact, these monthly statistics can easily be misleading especially when new aircraft orders plunge by 25.6%. In the second quarter as a whole, shipments of non defense capital goods excluding aircraft are up 16% annualized and new orders in the same category are

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Trade balance: Latest: −$1.062 billion Previous: −$1.367 billion FACTS: The Institut de la statistique du Québec reports that Quebec’s trade deficit narrowed $305 million in May to $1.06 billion (top chart). Exports declined $177 million, or 3.5%, to $4.83 billion. The decrease was equal to the decrease in aerospace exports. Imports declined $482 million, or 7.6%, of which $363 million came from a decline in crude oil imports, after a spike in April, and in heating oil (seasonally adjusted

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The June US durable goods report looked quite awful at first glance. Expectations had been for a modest 0.9-1.0% increase for the month, but instead total orders dropped 1%, after falling 0.8% in May. That would suggest that the string of poor economic releases from the US continues and will cast a heavy shadow on the prospects for the outlook for the recovery. Can’t blame the big fall on the transportation sector, as orders excluding transportation were down 0.6% as well. Within the

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Canada: Teranet-National Bank House Price Index m/m growth Latest: +1.3% previous: +0.8% prior: +0.3% y/y growth Latest: +13.6% previous: +12.9% prior: +11.6% FACTS: In May, the Teranet–National Bank National Composite House Price IndexTM was up 1.3% from March, a 13th consecutive monthly rise. For the second consecutive month, prices increased in each of the six regions covered. Prices gained 2.3% in Ottawa, 1.8% in Montreal, 1.2% in Vancouver and Calgary, 1.1% in Toronto and 0.7% in Halifax.

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

New orders for durable goods fell $2.0 B in June, or 1.0 percent. While another down month for commercial aircraft weighed on the headline, weakness in other sectors kept the ex-transportation reading negative. Weakness Evident Beyond Commercial Aircraft Durable goods orders decreased 1.0 percent in June, following May’s 0.8 percent decline. Manufacturing and primary metals slowed for the second month straight, as did the catch-all other category, pointing in part to deceleration in the factory

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The S&P/Case-Shiller 20-city composite home price index increased a seasonally adjusted 0.5% m/m in May, a second consecutive month-on-month gain, after an upwardly revised 0.6% m/m advance in April, according to S&P/Case-Shiller housing data. The 20-city composite HPI rose a non-seasonally adjusted 1.3% m/m, following April’s upwardly revised 0.9% m/m rise. 20-city home prices rose 4.6% y/y in May, a fourth straight year-on-year gain and the biggest since August 2006, after a 3.8% y/y

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The Conference Board US consumer confidence index fell to a lower-than-expected 50.4 in July from an upwardly revised 54.3 in June, suggesting US consumer sentiment slumped for a second consecutive month to the lowest level since February, a Conference Board report showed, compared with July 2009’s 47.4 level. The present situation index declined to 26.1 in July from an upwardly revised 26.8 in June. The expectations index decreased to 66.6 from June’s upwardly revised 72.7.

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The Richmond Fed manufacturing index declined slightly less than expected to 16 in July from 23 in June, indicating manufacturing activity in the central Atlantic region expanded for a sixth successive month but at a slower pace, according to the Federal Reserve Bank of Richmond’s latest survey. The new orders index fell to 13 from June’s 25, suggesting new orders grew for a seventh straight month but at a slower rate. However, the employment index rose to 15 in July from 9 in June, suggesting

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

consumer confidence fell in July. Far from being a leading indicator, the present situation of the index is just a mirror image of the unemployment rate. This means that we must look elsewhere for clues with respect to upcoming households spending. Would focusing on the expectations component be more instructive? Well, this is not crystal clear. As today’s Hot Charts shows, confidence expectations is not always closely linked with consumer spending. In the recovery of the 2000’s, confidence was

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The Consumer Confidence Index fell 3.9 points in July to 50.4. Both the current conditions and expectations series declined during the month and the labor market components of the survey weakened. Consumer Confidence Weakens In July With July’s 3.9 point drop, the Consumer Confidence Index is now down 12.3 points from its May high. Most of that drop has been in the expectations series, which has fallen 18 points. The drop in Consumer Confidence appears at odds with the recent strong earnings

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FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The S&P/Case-Shiller house price index showed housing prices climbing in May, but there are concerns that seasonal factors and the residual influence of the government’s home buyers tax credit are boosting the numbers prior to a fall off in the second half of the year. Demand for homes has fallen sharply recently, and with inventories remain at elevated levels. That will put pressure on housing prices going forward. Still, it was the second monthly increase in prices as the 10-city index

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The Chicago Fed national activity index fell to -0.63 in June from an upwardly revised 0.31 in May, led by declines in production- and employment-related indicators, suggesting the national economy posted below-average growth for the first time in four months, according to a report released by the Federal Reserve Bank of Chicago, compared with June 2009’s -1.72. The index’ 3-month moving average slid to -0.05 in June, the first decline in three months, from an upwardly revised 0.31 a month

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

US new home sales rose a more-than-anticipated 23.6% m/m to a seasonally adjusted 330,000 annual rate in June, the second-lowest level since 1963, after a downwardly revised 36.7% m/m drop that was the biggest on record to a 267,000 annual pace in May, figures released jointly by the US Census Bureau and the Department of Housing and Urban Development showed. June new home sales fell 16.7% y/y. Sales increased in the Northeast, Midwest, and South, but decreased in the West. The median price of

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Global trade flows continue to surge. According to the Dutch Bureau for Economic Policy Analysis, the volume of world trade grew 1.8% in May, the eighth increase in nine months. World trade volume is now only 3% below its peak level reached early in 2008. As Today’s Hot Charts shows, trade flows are currently expanding at a 23% annual clip on a year over year basis. On the flip side, this surge in trade flows pushed global industrial production virtually back to its pre-recession level. Despite

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

New home sales rose 23.6 percent in June but the increase came with substantial net revisions to the previously published data. Total June sales net of revisions would have been just 268,000. Expiring Tax Credits Continue to Muddle the Housing Market New home sales bounced back 23.6 percent in June, following a 36.7 percent plunge in May. The absolute level of new home sales remains exceptionally low at just 330,000 units. May’s new home sales were revised down from a previously published

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

OPINION: The slightness of real GDP growth in April is not in itself cause for concern. The retreat in manufactur­ing production, for example, was far from broad-based – output increased in 11 of the 21 major industry groups. Though production was flat in services as a whole, it was up in eight of 13 sectors. Real GDP for the first month of the second quarter was up 1.0% annualized over Q1, with goods production contributing as much as services. Residential construction is unlikely to be a

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Coming into this week the talk in currency markets was the Euro-zone bank stress tests and their results. A result in which all banks passed would be seen as too lenient and would not go far enough to restores confidence in the Euro-zone financial system. However, if too many banks failed the criteria it could spook investors as they see the Euro-zone banking sector still mired in the sovereign debt crisis. Well, after much speculation we finally have the results. As expected the German bank

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FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The widening gap between US and EMU events became even clearer this week. In Europe, macro data came surprisingly high in July’s PMI, but the main concern was obviously on the stress tests and their implications. The combination of “less bad� macro data and a powerful stress test is precisely what saved the US back in 2009. This time around, however, on the other side of the Atlantic the focus remains on the much feared double dip. Bernanke’s remarks on his Congress appearance corroborated

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The Committee of European Banking Supervisors (CEBS) will publish an aggregated set of results at 1700 BST, followed by further details given bank by bank at 17:30 BST. Banks and the National regulators are also set to publish breakdowns of these results over the course of the following hour. The wait is over… After much speculation of an early release, an EU official confirmed earlier in the week that the EU bank stress tests results will be released after the European markets close today.

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Total CPI : Latest (y/y) : +1.0 (actual) +1.0% (forecast) previous :+1.4% CPIX : Latest (y/y): +1.7% (actual) +1.9% (forecast) Previous :+1.8% FACTS: Headline CPI inflation declined to 1.0% in June from 1.4% in May. The core CPI decelerated to 1.7% yearover- year from 1.8% reported last month. On a monthly basis, headline CPI fell 0.2% (seasonally adjusted), the same rate of decrease observed in May. Core inflation is up 0.1% on the month, the same rate of increase as in May. The recreation,

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FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The Conference Board US leading economic indicators index, a measure of future economic activity, was down 0.2% m/m to 109.8 in June, the second decline in three months, after an upwardly revised 0.5% m/m advance in May and a downwardly revised 0.1% m/m decline in April, according to LEI data from the Conference Board, pointing to slowing economic growth in H2 2010. The coincident index, measuring current economic activity, was unchanged at 101.4 in June, following an upwardly revised 0.5% m/m

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

US initial jobless claims in the week ending July 17 climbed 37,000 to a higher-than-anticipated 464,000 from the previous week’s downwardly revised 427,000, figures from the Labor Department showed. The 4-week moving average increased 1,250 to 456,000. However, continuing claims in the week ending July 10 dropped 223,000 to 4,487,000 from the preceding week’s upwardly revised 4,710,000. The 4-week moving average of those continuing claims fell 21,500 to 4,567,000. The insured unemployment

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

FHFA US house prices unexpectedly grew 0.5% m/m sa in May, a third consecutive monthly gain, after an upwardly revised 0.9% m/m advance in April, according to the Federal Housing Finance Agency’s monthly house price index. May house prices fell 1.2% y/y, a sixth straight year-on-year fall.

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

US existing-home sales fell for a second month in June, falling a less-than-expected 5.1% m/m to a seasonally adjusted 5.37 million annual rate, after a 2.2% m/m May decline to a 5.66 million annual pace, figures from the National Association of Realtors showed. June existing home sales rose 9.8% y/y. The June month-on-month fall was led by sales drops in the Midwest, South and West. Sales increased in the Northeast. Sales decreased for both single-family home sales and condos/coops. The

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Euro Rallies on Manufacturing & Services Data, Higher Yielders Up on Risk Appetite  The Euro broke a spell of weakness against the Dollar as it found support from better than expected manufacturing and services data in the form of the flash version of purchasing mangers indexes.  The Euro-zone manufacturing PMI rose to 56.5 from 55.6 while the services PMI edged higher to 56.0 from 55.5. The gains were led by a sharp rise in Germany’s economy. It’s manufacturing PMI rose to 61.2

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Retail sales Latest number: -0.2% (actual) +0.4% (expected) Excluding motor vehicles & parts Latest number: -0.1% (actual) +0.5% (expected) FACTS: Retail sales decreased 0.2% in May, a second consecutive monthly decline. Sales decreased in 6 of 11 retail industries with over 48% of the decrease coming from motor vehicles & parts (-0.5%). Excluding motor vehicles & parts, retail sales decreased 0.1%, with the largest pullback registered by building material, garden equipment and

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Existing home sales fell 5.1 percent in June but sales held up better than many expected. Sales of single family homes fell 5.6 percent, while sales of condominiums and townhomes declined 1.5 percent. Tax Credits Continue to Buoy Home Sales Sales of existing homes fell 5.1 percent in June to a still relatively robust 5.37 million-unit pace. Sales continue to be supported by tax credits. Delays in the closing process have led to an extension of the closing deadline which will likely smooth the

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

After advancing every month for more than a year the leading economic index (LEI) shed 0.2 percent in June. This is the latest affirmation of our view that economic growth will likely slow in the second half of 2010. Ugly Job Market Weighs on Economic Outlook The LEI is consistent with our view for slower growth but no double dip. The health of the job market is represented in the LEI by two components. One is average weekly hours, which pulled down the index more than any other component in

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

EMU – Mfg PMI (Jul P): 56.5 UniCredit: 54.9 ------ Consensus: 55.1 ----- Last: 55.6 EMU – Services PMI (Jul P): 56 UniCredit: 55 ------ Consensus: 55 ----- Last: 55.5 The July PMIs came in better than expected with both the manufacturing and services indexes picking up to 56.5 (from 55.6) and 56 (from 55.5) respectively. Germany recorded a solid improvement of both the manufacturing and the services PMI, which rose respectively to 61.2 (from 58.4) and to 57.3 from 54.8. In France, the services

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FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

The MBA US market composite index, a measure of mortgage loan application volume, increased a seasonally adjusted 7.6% for the week ending July 16 after a 2.9% decline a week earlier, the Mortgage Bankers Association reported. The refinance index rose 8.6% w/w, the highest since the week ending May 15, 2009. The purchase index was up 3.4% w/w, led by an 8.0% w/w rise in government purchase applications.

FXstreet.com: Fundamental: Reports on Economic Indicators
FXstreet.com: Reports on Economic Indicators. Economic Indicators explained. A resource to understand how big institutions handle the various economic informations.

Australia’s economic growth remains high; however, showing a modest slowdown. The Westpac-Melbourne Institute Australian leading economic indicators index, a measure of future economic activity, increased 0.2% m/m to 264.7 in May, Westpac Banking Corp. and the Melbourne Institute reported. The LEI annualized growth rate slowed for a second month, to 6.7%, the weakest pace since November 2009, from April’s 7.5%. The coincident index, measuring current economic activity, increased to 252.4 in