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JP Morgan - Latest News [Page 12]
Daily Economic Briefing: February 16, 2010
Wednesday, 17 February 2010, 10:22 am | JP Morgan
Japan 4Q GDP was stronger than expected, rising 4.6%q/q saar compared to our forecast of 3.0%. Net exports were responsible for a large portion of the surprise—contributing 2.2%pts to 4Q quarterly growth, about 1%pt more than our expectation. Although exports ... More >>
FX Daily Planet: Sydney/Asia Open
Wednesday, 17 February 2010, 10:12 am | JP Morgan
Risky markets continued to move higher with US equities making strong gains in excess of 1% and commodities markets moving higher by nearly 4% in the case of oil and 2.5% in the case of gold. In the FX market, both NZD and AUD remain today’s strongest ... More >>
RBA Board minutes suggest pause may be extended
Tuesday, 16 February 2010, 3:32 pm | JP Morgan
The Reserve Bank today released the minutes of the February Board meeting at which members left the cash rate steady at 3.75%. That decision two weeks ago, which the minutes today described as “finely-balanced” (as was the case in December, when ... More >>
FX Daily Planet: Sydney/Asia Open
Tuesday, 16 February 2010, 1:54 pm | JP Morgan
The FX market remained quiet with the US market closed for the Presidents’ day holiday. As expected, only noteworthy event overnight, namely the Euro Area Financial Minister’s meeting, did not deliver any fresh details positive nor negative on ... More >>
Producers' output prices fell further in 4Q
Tuesday, 16 February 2010, 12:27 pm | JP Morgan
The 4Q PPI numbers released in New Zealand this morning provided yet another piece of weak economic data. Today’s PPI print alone will have few implications for the RBNZ, but reaffirms the view that the RBNZ will sit on the policy sidelines in coming ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 15 February 2010, 11:19 am | JP Morgan
Last week’s remarkably strong Aussie employment numbers are not enough to push the RBA over the line for a March rate hike. After all, hours worked fell during the month—the huge jobs gain masks what could be underlying weakness, and the leading ... More >>
“Have a Carrot” Said the Mother Bunny
Sunday, 14 February 2010, 1:07 pm | JP Morgan
Policymakers continue to support growth and financial stability without instilling confidence in a responsible normalization path. More >>
FX Markets Weekly: Policy Remains Too Murky
Saturday, 13 February 2010, 11:52 am | JP Morgan
In markets which have become almost entirely policy-driven, this week’s developments have injected more doubt than confidence. Europe needs a liquidity fund with conditionality, but EcoFin is unlikely to deliver one next week. China’s tightening despite weak ... More >>
FX Daily Planet: New York Open
Saturday, 13 February 2010, 11:22 am | JP Morgan
A post-Greece lull in the markets proved unexpectedly shortlived, as the PBOC dropped an unexpected announcement of its second 50bp hike in reserve requirements. That China has tightened again is not a surprise but the timing was – we had expected ... More >>
FX Daily Planet: London Open
Saturday, 13 February 2010, 10:51 am | JP Morgan
Only notable move in the Friday Asian session was seen in NZD, which sharply declined (-0.6% against USD) on a much-weaker-than-expected Dec. NZ retail sales (0.0% m/m against consensus at +0.6%). Meanwhile, there were no major moves in the other G-10 ... More >>
G-4 Bank Lending Standards Stabilize, Demand Falls
Friday, 12 February 2010, 2:50 pm | JP Morgan
Banks began to tighten credit standards on large firm C&I lending in late 2007 and reached a peak in late 2008 and early 2009, when the share of banks tightening standards outnumbered the share easing by 40%-pts.1 On net, banks continued to tighten through ... More >>
Daily Economic Briefing: February 11, 2010
Friday, 12 February 2010, 10:34 am | JP Morgan
EU heads of state issued a short statement telling Greece to implement its deficit-reduction plan on schedule and that progress will be monitored by the EU, drawing on expertise of the IMF, with a first assessment due next month. Left unsaid was that Greece, ... More >>
Statement On Greece From EU Summit
Friday, 12 February 2010, 9:37 am | JP Morgan
Going into today's summit meeting, EU heads of state faced a difficult balancing act. On the one hand, they wanted to calm financial markets in order to limit further stress, not only on Greece, but also on other sovereigns in the region and on holders ... More >>
Australian economy gained +50,000 jobs in January
Thursday, 11 February 2010, 2:49 pm | JP Morgan
The resilience of the Australian labour market is remarkable. The economy added a massive 52,700 jobs in January (J.P. Morgan: 5,000, consensus: 15,000), bucking expectations for a moderation in employment gains in the wake of the RBA’s assertive rate hikes ... More >>
FX Daily Planet: Sydney/Asia Open
Thursday, 11 February 2010, 9:51 am | JP Morgan
Headlines surrounding support measures for Greece continue to sway the market with EUR showing large choppy moves throughout the New York session. In particular, statements from German government officials seemed to indicate that an aid package for Greece ... More >>
Aussie Home Loan Demand Slumped Further In Dec
Wednesday, 10 February 2010, 2:51 pm | JP Morgan
The total number of housing loan commitments issued in Australia plummeted again in December, falling 5.5%m/m as expected (J.P. Morgan: -5.5%, consensus: -5.0%), after a downwardly revised 6.1% slide in the previous month. More >>
Global Data Watch: Is it soup yet?
Sunday, 7 February 2010, 10:51 am | JP Morgan
Despite remaining risks, the global economy is on track for widespread above-trend growth in 2010. Central banks at the vanguard of policy tightening take a timeout More >>
FX Markets Weekly: Sell over-owned currencies
Saturday, 6 February 2010, 12:37 pm | JP Morgan
None of the three systemic issues which converged in January – European sovereign risk, Chinese tightening and US data undershoots – have been resolved, nor will they be for a few months. More >>
FX Daily Planet: New York Open
Saturday, 6 February 2010, 11:39 am | JP Morgan
Conditions have calmed down a little from yesterday but risk markets remain exceptionally nervous – stocks were down 2-3% in Asia and Europe – which is feeding continued deleveraging in the FX market. USD/Asia is well bid and the dollar remains in the ... More >>
How expectations of a CNY revaluation affect JPY
Saturday, 6 February 2010, 11:36 am | JP Morgan
We expect a downtrend in USD/CNY to resume in 2Q, resulting in a broad rally in Asian FX. Although there is no fundamental link between USD/CNY and USD/JPY, there has been a modest correlation between USD/JPY and USD/CNY NDFs. More >>
