Eurozone's November inflation showed a deceleration to 2.2%
The flash estimate for eurozone November inflation showed a deceleration to 2.2% vs. 2.5%, marginally below our forecast. According to the release published by Eurostat, the inflation slowdown was...
View ArticleWatch out for the FOMC meeting
Central bank meetings are currently top of the agenda, if rather uneventful. As widely expected, the BoE and the ECB remained on the sidelines today, despite the ECB's more dovish-than-expected macro...
View ArticleFirst part of banking union approved
European politics and the Fed set the tone this week. Economic data played second fiddle but were generally in line with our view of a moderate global recovery next year. The EU summit starting this...
View ArticleEurozone November inflation was confirmed at 2.2%
Eurozone November inflation was confirmed at 2.2%, with the core rate slowing to 1.4% vs. 1.5%. HICP ex-tobacco was down 0.2% mom and printed at 115.97, consistent with a 2.1% yearly rate. At the time...
View ArticleA more constructive 2013
Happy New Year to everybody! And it was indeed a promising start to the year, first and foremost for risky assets – which bodes well for our multi-month outlook of a looming "great asset reallocation"....
View ArticleNext week, Eurostat will release the final estimate for eurozone December...
Next week, Eurostat will release the final estimate for eurozone December inflation. We expect prices to be up 0.4% mom, while the yoy rate is a very close call: we see risks of an upward revision to...
View ArticleEMU business climate is improving
This week's data releases were pretty mixed globally – with activity data upbeat in the US as well as in Emerging Asia, but down again in the euro area, implying a re-intensification of the industrial...
View ArticleIn January, inflation is likely to move south
Eurozone December inflation came in at 2.2% yoy, in line with the preliminary estimate and stable from November. On a monthly basis, prices rose 0.4%. Core inflation confirmed its stickiness and...
View ArticleOn track for a gradual recovery
This week's economic data were rather promising overall. But in contrast to prior weeks, it was the EMU pleasing markets and analysts the most with its strong flash PMI readings, while the US data were...
View ArticleECB & BoE on hold, CEE to ease
This week's economic data were pretty mixed, with the ambivalent US GDP report (poor headline, much better details) moving center stage yesterday. EMU economic numbers were more constructive on...
View ArticleEurozone January inflation showed a deceleration
Today, the flash estimate for eurozone January inflation showed a deceleration to 2.0% yoy vs. 2.2%, in line with our forecast. As expected, the main driver of the slowdown was a positive base effect...
View ArticlePoor GDP data can't shake our confidence
It has been a promising data week. Almost all sentiment indicators were up around the globe, thus boding well for our guardedly optimistic view that EMU-wide economic activity is already stabilizing...
View ArticleEurozone inflation could ease further in February
We confirm our view that eurozone inflation could ease further in February, probably to 1.9% vs. 2.0% recorded in the January flash estimate. The final estimate for January HICP is due on 28 February....
View ArticleEMU GDP: Ugly 4Q12, more promising 1Q13
Today's GDP releases confirmed that the pace of eurozone recession intensified in 4Q12, as already observed for many countries in other regions, including the UK and the US. The EMU economy contracted...
View ArticleItaly goes to the polls
It has been a week of predominantly soft economic data releases garnished with some interesting details of the Fed and BoE minutes. But looking beyond the surface, we see no need to change our views of...
View ArticleItaly: Uncertainty to continue
The Italian election ending up in a political stalemate dominated headlines this week, thus overshadowing promising data releases around the globe showing that worldwide growth is picking up after a...
View ArticleEurozone February inflation showed a deceleration
Today, the flash estimate for eurozone February inflation showed a deceleration to 1.8% yoy from 2.0%. This is 0.1pp below our and consensus forecast. The details published by Eurostat indicate that...
View ArticleECB & BoE to stay on the sidelines (for now)
Cyprus dominated the headlines around the globe this week. For now, investors have decided to take the news as a no-concern event, and rightly so. But we have to closely watch the outcome, including...
View ArticleEurozone inflation bottoming out in April, at 1.6% yoy
Eurostat will release the flash estimate for eurozone March inflation on 3 April. We expect a stabilization at 1.8% yoy. The early time of Easter may temporarily push up the price of holiday-sensitive...
View ArticleECB stands ready to act
Today's central bank meetings shaped the economic week. While the ECB and the BoE remained on the sidelines, the former is biased to cut rates further if needed, and the BoJ stepped-up its QE...
View Article
