Eurozone Q1 GDP revised upwards

7 June, 2016

Euro zone first quarter gross domestic product has been revised upward, beating market's expectation of no change in the revision statistics. Optimism seems to emanate from a buoyant environment of consumer spending at the start of 2016, emerging from a weak Euro and still declining crude oil prices.

Quarterly economic growth in the Eurozone hit 0.6 percent in the first three months of the year, revised up from an earlier estimate of 0.5 percent, data released by the Eurostat showed. However, the statistics agency seems unclear about the GDP figures of the Euro area. The first estimate was 0.6 percent, which was revised downward to 0.5 percent in the second round, and now in the third report, which includes details on GDP components, the figure has been revised to its original estimate.

Meanwhile, annual growth remained unchanged at 1.7 percent, from the fourth quarter, driven by a jump in consumer spending and investment. Imports also outpaced the rate of export growth, rising by 0.7 per cent, while the value of goods sold was 0.4 percent.

Greece remained the single Euro area which fell into outright contraction at the beginning of the year, shrinking by 0.5 percent.


Source link  
Gold faces strong support at $1359

Major intraday support -$1359. The yellow metal has declined till $1359 yesterday and slightly recovered from that level. It is currently trading around $1367.19. The Intraday trend is slightly bullish as long as support $1359 holds...

Brexit sees rising risk of foreign portfolio outflows

Markets deeply shocked and hit by the Brexit news and gave up risky assets in wake of increased uncertainty on UK’s economic prospects sans EU membership...

US vols lowest since 2012 trade

The bullish momentum of the last three weeks culminated in the lowest 10y yield since August 2012 (in the context of QE) on a more-dovish-than-expected Fed and a pick-up in momentum for the Brexit camp...


UK gilts tumble as latest Brexit poll

The UK gilts continue to trade lower on Monday as recent polls suggested that Remain camp is ahead in the run-up to the EU referendum against Leave. Also, rising crude oil prices and firm equities drove-out investors from fixed income securities.

Oil price decline likely to bring US inflation

Inflation expectation is the United States as measured by 5year-5 year (5y-5y) forward inflation expectation rate is reaching for the bottom it made in February. The forward inflation expectations dropped to 1.42 percent in February, before bouncing back to 1.83 percent in late April...

Silver hits fresh 6 week high at $17.85

We prefer to take long position in XAG/USD only above $17.84 with stop loss at $17.68 and target of $17.99/18.18/ $18.45 levels...


UK gilts gain on weak risk appetite

The UK gilts strengthened on Wednesday as Brexit fears and global growth angst continue to weigh on the markets. The yield on the benchmark 10-year bonds, which moves inversely to its price fell 3 basis points to 1.405 percent...

Sharp drop in German retail sales

Germany April retail sales fell for the second consecutive month in a row, taking markets by surprise despite upbeat labor market and buoyant consumer sentiment. This is a clear indication for a slowing consumer momentum in the coming months...

Indian bonds rise modestly

The Indian government bonds traded modestly firmer on Friday as rupee continued to appreciate against the USD. Moreover, investors were also cautious ahead of bonds auction later in the session...

  


Share: