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JP Morgan - Latest News [Page 13]
FX Daily Planet: London Open
Saturday, 6 February 2010, 10:57 am | JP Morgan
Asian equities have been posting sharp losses of over 2%, moves reminiscent of European and US market overnight. A country leading this region wide downfall is Taiwan which is currently trading 4.6% lower on the day resembling Spain, where equities fell ... More >>
RBA's upbeat statement raised GDP and CPI forecast
Friday, 5 February 2010, 3:07 pm | JP Morgan
The Reserve Bank followed its shock decision Tuesday to leave the cash rate steady at 3.75% by today releasing another upbeat assessment of the economy in the Statement on Monetary Policy (SoMP). Indeed, as we anticipated, the tone of the language again ... More >>
JP Morgan Daily Economic Briefing: 05-02-10
Friday, 5 February 2010, 12:29 pm | JP Morgan
The economic news was not all bad this week but, pending tomorrow’s payroll report, on balance the data disappointed. Two developments stand out, both of which pertain to the sustainability of the expansion. One was today’s jobless claims report, ... More >>
Australia: Retail Sales Fell In Wake Of Rate Hike
Thursday, 4 February 2010, 3:20 pm | JP Morgan
Retail sales values unexpectedly fell in December, suggesting the earlier resilience of the consumer has suffered at the hand of the RBA. After spiking 1.5%m/m in November, retail sales values fell 0.7% in December (J.P. Morgan and consensus: 0.2%), the ... More >>
Aussie Building Apps Rose Again At Year-End
Thursday, 4 February 2010, 3:09 pm | JP Morgan
Residential building approvals rose a respectable 2.2%m/m in December (J.P. Morgan -1.5%, consensus 0.0%), after a significant jump in November. Private sector building approvals were up for both houses and ‘other’ (i.e. higher density) dwellings. More >>
New Zealand unemployment rate spiked to 7.3% in 4Q
Thursday, 4 February 2010, 12:18 pm | JP Morgan
The unemployment rate in New Zealand spiked to 7.3% in the December quarter (J.P. Morgan 7.2%, consensus 6.8%) from 6.5%. The increase in the final three months of the year means that the unemployment rate now is 3.5% higher than at the start of ... More >>
Aussie trade balance deteriorated further
Wednesday, 3 February 2010, 3:37 pm | JP Morgan
Australian imports exceeded exports for a ninth consecutive month in December, with the trade deficit continuing to widen. The deficit expanded to A$2.3 billion from an upwardly revised A$1.7 billion in November. More >>
Daily Economic Briefing: February 2, 2010
Wednesday, 3 February 2010, 12:46 pm | JP Morgan
US car sales eased to 10.8mn units in January from 11.2mn in December. This poses a modest headwind for overall consumption last month although other aspects of spending easily could pick up the slack. We look for a 2% gain in consumer spending and a ... More >>
Wage Growth Eased To Slowest Rate In Nine Years
Tuesday, 2 February 2010, 12:10 pm | JP Morgan
Rising unemployment and fewer working hours drove private sector labour costs lower in New Zealand in the December quarter. The private sector labour cost index, which of the various wage measures receives most attention from the RBNZ, rose 0.3%q/q ... More >>
FX Daily Planet: Sydney/Asia Open
Tuesday, 2 February 2010, 10:07 am | JP Morgan
Strong economic data is helping risk markets to extend their gains in the US session, as equities are currently trading higher by around 1%. Today’s ISM report was exceptionally strong, with the headline index jumping 3.5 points to 58.4, and new orders inching ... More >>
Aussie house prices continued to soar in 4Q
Monday, 1 February 2010, 3:07 pm | JP Morgan
Australian house prices increased 5.2%q/q in 4Q (J.P. Morgan: 5.5%, consensus: 3.5%), accelerating from consecutive 4% jumps in the second and third quarters. After a sluggish 2008, the recovery of Australia’s housing market over 2009 is all the ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 1 February 2010, 12:43 pm | JP Morgan
Tomorrow’s RBA decision is the clear highlight in Australia this week; we look for a 25bp rate hike and for upgrades to the RBA’s growth and inflation forecasts in the quarterly statement on Friday. The steady stream of firm domestic data since ... More >>
The hangover: A muted recovery for US consumers
Friday, 29 January 2010, 2:10 pm | JP Morgan
In the aftermath of the financial crisis, the household saving rate is expected to drift higher and deleveraging to continue Rising labor income and a reduction in fear set to produce a 2.5% spending gain, well below the expected 3.6% pace of US ... More >>
NZ Trade Balance Returns To Surplus
Friday, 29 January 2010, 12:24 pm | JP Morgan
New Zealand’s trade balance surprisingly returned to surplus in December, printing at NZ$2 million (J.P. Morgan -NZ$200 million, consensus -NZ$100 million) from -NZ$269 million in the previous month. Exports improved, as expected, but imports also were ... More >>
No Changes to RBNZ Guidance, But OCR Hike Likely
Thursday, 28 January 2010, 11:20 am | JP Morgan
The RBNZ left the official cash rate (OCR) steady at 2.5% this morning as expected and maintained that, provided the economy continues to recover in line with the RBNZ’s projections, policy stimulus will begin to be removed “around the middle of 2010.” More >>
4Q CPI outcome locks in RBA rate hike next week
Wednesday, 27 January 2010, 3:57 pm | JP Morgan
The absence of significant downside surprises in today’s 4Q inflation detail locks in the RBA for a fourth straight rate hike next Tuesday. Only a material downside surprise would have kept the RBA sidelined, and even then it would have been a stretch. More >>
Daily Economic Briefing: January 25, 2010
Tuesday, 26 January 2010, 12:06 pm | JP Morgan
The 12 central bank meetings this week will likely underscore that a one-size fits all global monetary stance is becoming increasingly inappropriate. As discussed on page 2 of last Monday’s DEB and in detail in a recent Global Issues report (Dec ... More >>
Australia: 4Q PPI dragged lower by falling prices
Tuesday, 26 January 2010, 9:50 am | JP Morgan
Producer prices in Australia fell 0.4%q/q at the final stage of production in 4Q (J.P. Morgan: 0.6%, consensus 0.1%), after rising 0.1% in the previous three months. Though the headline number was much weaker than expected, it is important to note ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 25 January 2010, 2:24 pm | JP Morgan
The string of remarkably strong economic data released in Australia in recent weeks has bolstered speculation that the RBA may need to tighten policy more rapidly than current market pricing suggests. More >>
FX Daily Planet: Sydney/Asia Open
Friday, 22 January 2010, 12:33 pm | JP Morgan
Equities tumbled today on weak economic news, and fears surrounding regulatory reform. Today’s press conference from President Obama is fuelling fears over further government regulation of the financial industry. More >>
