Daily
Market Color
07/03/2013
Economic
Reports & Headlines
A couple of European countries
and the European region as a whole released PMI service reports for June on the
eve of Independence Day. Below you could find the actual numbers versus the
aggregate estimates: France 47.2 Vs 46.5, Germany 50.4 Vs 51.3, UK 56.9 Vs 54.3
& EMU 48.3 Vs 48.6.
Retail sales for May in the EMU
came in higher than expected, 1.0% Vs 0.3%.
Moving over to the domestic
front, the ADP employment report disappointed market participants by a wide
margin, 188k Vs 165k.
The US trade deficit came in
larger than expected for May, $45 billion Vs $40 billion.
Jobless claims came in slightly
lower expected this week, 343k Vs 345k.
The Non-manufacturing ISM report
for June expanded less than expected, 52.2 Vs 54.5.
Canada’s trade deficit in May
came in lower than expected, $300m Vs $700m.
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