July 2016

“Although confidence strengthened in late July, for the month as a whole the Sentiment Index was still below last month’s level mainly due to increased concerns about economic prospects among upper income households. The Brexit vote was spontaneousl…

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Reading of the US GDP for the second quarter strongly differ from the forecasts. Weak data completes the revision of GDP for the first quarter, which was lowered from 1.1 to 0.8 percent. Today’s GDP reading partially neutralizes signal that the Fed m…

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EURUSD 1.0950 (EUR 550m) 1.0970 (350m) 1.1000 (1.8bln) 1.1050 (1.1bln) 1.1200 (250m) USDJPY 104.00 (USD 365m) 104.75 (600m) 105.00 (750m) 105.70-75 (1.1bln)106.00 (710m) 106.25 (500m) 106.75 (650m) 106.90 (1.2bln) 107.00-10 (845m) 108.00-10 (2.6bl…

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The IPPI advanced 0.6% in June, after gaining 1.2% in May. Of the 21 major commodity groups, 14 were up, 4 were down and 3 were unchanged. Energy and petroleum products (+3.9%) posted gains for a fourth consecutive month and were the largest contr…

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Real gross domestic product (GDP) fell 0.6% in May, the largest monthly decline since March 2009. The decrease in May was primarily due to lower non-conventional oil extraction, a consequence of the Fort McMurray wildfire and evacuation. The Fort Mc…

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Chevron reported Q2 FY 2016 loss of $0.78 per share (versus earnings of $0.30 in Q2 FY 2015), missing analysts’ consensus estimate of earnings $0.32. The company’s quarterly revenues amounted to $29.282 bln (-27.4% y/y), missing analysts’ cons…

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