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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
French consumer confidence steadied in April
In April, consumer confidence in France remained steady at a level of 100.00. Markets were expecting consumer confidence to remain unchanged.
Swiss economic expectations index dropped in April
The economic expectations index eased to 22.20 in Switzerland, in April. The economic expectations index had registered a reading of 29.60 in the previous month.
Swiss UBS consumption indicator advanced in March
UBS consumption indicator recorded a rise to 1.50 in Switzerland, in March, compared to a revised level of 1.45 in the previous month.
US mortgage applications advanced in the last week
In the week ended 21 April 2017, on a weekly basis, mortgage applications rose 2.70% in the US. In the previous week, mortgage applications had dropped 1.80%.
Canadian retail sales surprisingly fell in February
In February, retail sales unexpectedly eased 0.60% in Canada on a monthly basis, compared to a revised advance of 2.30% in the previous month. Market anticipation was for retail sales to remain flat.
Canadian retail sales (ex-autos) declined less than expected in February
Retail sales (ex-autos) in Canada dropped 0.10% in February on a monthly basis, lower than market expectations for a fall of 0.30%. In the prior month, retail sales (ex-autos) had recorded a revised rise of 2.30%.
BoJ kept monetary policy unchanged, upgraded economic outlook
The Bank of Japan (BoJ) held benchmark interest rate steady at -0.10% and kept the yield target for 10-year Japanese government bonds around 0.00%. In its quarterly economic outlook report, the central bank upgraded Japan’s GDP forecast for the 2017-18 fiscal year to 1.60%, from the 1.50% projected in January, signalling its confidence that a pick-up in overseas demand will help sustain an export-driven recovery. However, the BoJ cut its inflation forecast to 1.40% from 1.50% for the same period.
Foreign investors turned net sellers of Japanese bonds in the previous week
Foreign investors turned net sellers of ¥692.90 billion worth of Japanese bonds in the week ended 21 April 2017, as compared to being net buyers of ¥410.50 billion worth of Japanese bonds in the previous week.
Japanese machine tool orders advanced in March
In March, on an annual basis, the final machine tool orders in Japan rose 22.80%. Machine tool orders had risen 9.10% in the previous month. The preliminary figures had indicated an advance of 22.60%.
Japanese investors became net sellers of foreign bonds in the previous week
Japanese investors remained net sellers of ¥1283.80 billion worth of foreign bonds in the week ended 21 April 2017, as compared to being net sellers of ¥796.20 billion worth of foreign bonds in the previous week.
Japanese all industry activity index advanced more than expected in February
On a monthly basis, in Japan, the all industry activity index recorded a rise of 0.70% in February, more than market expectations for an advance of 0.60%. The all industry activity index had risen 0.10% in the previous month.
Japanese small business confidence index fell in April
The small business confidence index in Japan fell to a level of 48.60 in April, lower than market expectations of a drop to a level of 49.40. The small business confidence index had recorded a level of 50.50 in the prior month.
Foreign investors remained net buyers of Japanese stocks in the previous week
Foreign investors were net buyers of ¥258.40 billion worth of Japanese stocks in the week ended 21 April 2017, as compared to being net buyers of ¥315.20 billion worth of Japanese stocks in the previous week.
Japanese investors turned net buyers of foreign stocks in the previous week
Japanese investors turned net buyers of ¥136.20 billion worth of foreign stocks in the week ended 21 April 2017, as compared to being net sellers of ¥231.70 billion worth of foreign stocks in the previous week.
Chinese industrial profits (YoY) advanced in March
In China, industrial profits (YoY) rose 23.80% in March on an annual basis. In the previous month, industrial profits (YoY) had registered a rise of 2.30%.
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