arrow
logo

Alvexo - Giving Back To The Community

Learn More

China's CPI Rose Less Than Expected

China's Consumer Prices Rose 2.00% on a Year-Over-Year Basis in May

china-economy


Falling below forecasts of 2.30%, China's inflation rose at a slower pace in May. This was down from April's increase of 2.30%. The Producer Price Index also fell on the month, down -2.80%, but better than forecasts of -3.80% and continuing to ease from April's decline of -3.40%.

 

China Trade Surplus Lower Than Expected in May


The General Administration of Customs in China released the monthly import and export data for the month of May yesterday. Exports were down -4.10% on a year over year basis while imports fell -0.40% in May. The data was lower than what some economists expected. China's trade surplus was at $49.98 billion in May, slightly lower than in April. May's print was also lower than the consensus estimates of $55.60 billion. Weak global demand, especially from China's key trading partners including Japan and the Eurozone was seen as the reason for the slump in exports, but demand is expected to pick up later in the year.

popup_close
1-usdcnh-0906

UK Industrial and Manufacturing Production Rebounds in April


Industrial and manufacturing production numbers released by the Office for National Statistics yesterday showed the fastest rate of growth in two years in the UK. Industrial production edged higher, rising 1.60% on a year over year basis in April, the fastest since 2014 while manufacturing production was up 0.80%, the highest since 2015. Earlier this month, Markit PMI survey data on manufacturing and industry showed a weakening trend. In April, UK's manufacturing PMI fell below 50, indicating a contraction. Growth came from pharmaceuticals manufacturing and exports and an increase in the electricity and gas sectors.

popup_close
2-gbpusd-0906

Canada Housing Starts and Building Permits Fall in April


Housing starts fell -1.50% in May to an annual rate of 188,600 units, data from Canada's Mortgage and Housing agency said on Wednesday. Analysts expected a decline to 188,000. In a separate report from Statistics Canada, building permits declined in April, falling -0.30%. Analysts expected to see a 1.50% increase for the month. The decline in building permits was led by lower construction intentions for multifamily dwellings. The decline marks a second consecutive month of weakness with March’s numbers revised modestly higher to show a -6.30% decline compared to previous estimates of -7.00%.

popup_close
3-usdcad-0906

RBNZ Leaves Interest Rates on Hold


At the monetary policy meeting late last night, the Reserve Bank of New Zealand held the overnight cash rate steady at 2.25%, unchanged for the second month. The RBNZ cut rates by 25bps at its meeting in March. Analysts were divided on the RBNZ decision, with some expecting a 25bps rate while some expected to see the RBNZ hold pat. NZDUSD rose to a 1-year high after the policy decision was announced.

popup_close
4-nzdusd-0906

Upcoming Events

  • Time
  • Currency
  • Event
  • Forecast
  • Previous
  • 07:00 GMT
  • EUR
  • ECB President Mario Draghi speech
  • 12:30 GMT
  • USD
  • Weekly unemployment claims
  • 269k
  • 267k
  • 14:00 GMT
  • USD
  • Wholesale inventories m/m
  • 0.10%
  • 0.10%
  • 15:15 GMT
  • CAD
  • BoC President Poloz speech