Daily
Market Color
07/09/2013
Economic
Reports & Headlines
The global economic calendar
started off with two reports from the UK, industrial production and merchandise
trade. Industrial production for May declined (-2.3%) versus consensus of
(-1.5%).
UK’s deficit for May was slightly
larger than expected, (-8.5bn sterling) versus (-8.2bn sterling).
June’s housing starts in Canada
was better than expected, 199,586 versus 190,000. The previous reading was
revised upwards as well, further adding to the upbeat report.
Producer prices in Japan grew
1.2% relative to last year in June. On a monthly basis, the report increased 10
basis points.
Japan’s tertiary index, which is
a measure of activity in 13 different Japanese industries, was up for the month
and the year. The index was up 1.2% for the month versus consensus of 90bps. On
an annual basis the report was up 1.6%.
Chinese trade report in June came
in slightly better than expected; the surplus was $27.13 billion versus $27.1
billion dollars.
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