EU Archive

Atlanta Fed, LA port traffic, EU trade surplus, German ZEW, housing starts, redbook retail sales

No positive change here yet: This was supposed to rebound: LA area Port Traffic Decreased in April By Bill McBride May 18 (Calculated Risk) — Note: LA area ports were impacted by labor negotiations that were settled on February 21st. Port traffic surged in March as the waiting ships were unloaded (the ...Read More

claims, producer prices, euro comments, public sector jobs

Just a reminder, claims measure those losing jobs who file for benefits, not new hires: Jobless Claims The euro has been moving higher vs the dollar, as CB selling winds down as they reach the lower limits of their reserve targets along with fundamental support from a large and growing EU current ...Read More

GDP detail, EU unemployment, personal income, ECI, Jobless Claims, chicago pmi, Bloomberg consumer comfort

Note the inventory build: Note the ‘bending of the curve’ for nominal spending that almost never happens: A bit of a disconnect between headline car sales and car sales’ contribution to GDP? Disposable income has ratched down twice recently- once from the recession and jump in unemployment, and again with the tax ...Read More

euro update

So today, for example, US tsy secs were up in yield yet the dollar went down vs the euro instead of up as it had been doing when US rates went up. So perhaps the CB’s who were selling euro have backed off? Maybe their exporters notices their euro reserves were falling ...Read More

PMI’s, Housing sales data, Yellon on oil

A few more PMI’s showing weakness: Japan : PMI Manufacturing Index Flash Highlights Manufacturing weakened for a third consecutive month. The flash April manufacturing PMI reading was 49.7, down from 50.3 in March. A reading below 50 indicates contraction. The output index also slipped below 50 to a reading of 49.7, down ...Read More

Buy signal?

Mr. Draghi said at the time that “there is no going back to the lira or the drachma or to any other currency. It is pointless to bet against the euro. It is pointless to go short on the euro.” ...Read More

Euro update and anecdotal econ news

This gives you a pretty good idea of the magnitude of euro selling by central banks. The question is when are they finished, and perhaps, when foreign exporters again pressure their cb’s to increase holdings to target the euro zone for exports, which is the reason the cb’s originally bought the euro. ...Read More

Comments on DB research

I send my posts to both a mailing list and to my blog, www.moslereconomics.com, where they are posted for public viewing. To get on the mailing list you must make a donation to the annual Pan Mass Challenge bicycle ride, which donates 100% of donations to Dana Farber in Boston, the world’s ...Read More

Greece, Euro inflation

Greece gets to choose its own poison: Greece Delays Awaited Reform Proposals Until Tuesday Feb 23 (WSJ) — Greece’s government pushed back until early Tuesday a list of awaited reforms that its eurozone partners had demanded in exchange for continuing to fund the country for another few months. Greek officials said late ...Read More

RT interview, UK inflation, retail sales mystery, Greece, Italian trade surplus

Greece must threaten Grexit to get best outcome from Troika Edward talks to Warren Mosler, chairman of Consulier Engineering on why the EU’s approach to the Greek debt crisis has failed to lift the Greek … So for decades the BOJ has tried to create inflation and failed, for 7 years the ...Read More