Australia: Construction sector to add 0.2ppts to Q1 activity – Westpac

Andrew Hanlan, Research Analyst at Westpac, notes that Australia’s construction work increased by a small 0.2% in the March quarter as the headline result fell short of expectations (market median 1.3% and Westpac 0.7%). Key Quotes “Despite an underwhelming headline, the constructio ...

France Markit Manufacturing PMI registered at 55.1 above expectations (53.7) in May

Turkey Consumer Confidence down to 69.9 in May from previous 71.9

France Markit PMI Composite came in at 54.5 below forecasts (56.6) in May

France Markit Services PMI below expectations (57.2) in May: Actual (54.3)

Hungary Gross Wages (YoY) dipped from previous 11.9% to 11.3% in March

Oil Prices Slip From 2014 Highs Ahead Of U.S. Inventory Data

Investing.com - Oil prices edged lower on Wednesday, pulling back from their strongest levels in three-and-a-half-years as investors looked ahead to fresh weekly data on U.S. commercial crude inventories to gauge the strength of demand in the world’s largest oil consumer and how fast output levels ...

UK: CPI inflation likely to remain at 2.5% – Nomura

Analysts at Nomura point out that in UK, clothing and footwear, alcohol and tobacco, and personal care/insurance each took around 0.1pp off CPI inflation in March. Key Quotes “We see inflation remaining at 2.5% despite those moves partly reversing and petrol prices rising. A 0.9pp wedge mean ...

Taiwan stocks lower at close of trade; Taiwan Weighted down 0.48%

Investing.com – Taiwan stocks were lower after the close on Wednesday, as losses in the , Electronic Parts/Components and Cement sectors led shares lower. At the close in Taiwan, the Taiwan Weighted lost 0.48%. The best performers of the session on the Taiwan Weighted were Lung Hwa Electronics Co ...

USD/JPY retreats farther from 4-month tops amid risk-off mood

   •  Global risk-off mood underpins JPY’s safe-haven demand and exerts pressure.    •  Renewed USD buying/weaker Japanese PMI does little to lend support.    •  Focus remains on the latest FOMC monetary policy meeting minutes. Th ...

EU’s Dombrovskis: EU demands permanent exemptions from US tariffs

Valdis Dombrovskis, a Latvian politician and the current European Commission Vice-President for the Euro and Social Dialogue, was reported by Livesquawk, saying that the talks on the US steel tariffs are continuing. He also said that the European Union (EU) demands permanent exemptions from the U ...

NOK remains rangebound for the time being – Danske Bank

Analyst at Danske bank Aila Mihr sees the Norwegian Krone keeping the sideline theme unchanged in the near term horizon. Key Quotes “EUR/NOK is currently on a knife edge as further SEK or oil price support could trigger technical NOK buying interest amid a break of the important 9.47 suppor ...

China Press: China should cut imports, downgrade ties with Australia

The Global Times, China’s state-run paper said in an editorial on Wednesday, China should downgrade its ties with Australia by cutting imports and postponing a visit by Prime Minister Malcolm Turnbull, Reuters reports. Key Quotes from the editorial: “China does not have to thro ...

Eurozone PMI and UK CPI in focus today – Danske Bank

In the euro area analysts at Danske Bank expect the PMI, which has moderated recently, to yield another 'softer' reading across countries. Key Quotes “It will be interesting to follow the manufacturing PMI and see the potential impact of the spill over of the ongoing trad ...

EUR/USD technicals suggest a test of 1.1890/1.2005 – Commerzbank

In opinion of Karen Jones, Head of FICC Technical Analysis at Commerzbank, the pair could attempt a recovery to the 1.1890/1.2005 area. Key Quotes “EUR/USD is attempting to recover off the December 2017 low where it is holding. It has not yet closed below its 78.6% retracement at 1.1767 an ...