製造
The flash August S&P Global PMI data released on Wednesday painted a picture of softer global growth, while also hinting that Europe is on the cusp of recession. The composite PMI for the euro area fell by 1.6 versus the previous month to 47.0, led by…
The latest update of the Atlanta Fed’s Home Ownership Affordability Monitor (HOAM) – which gauges a median-income households’ ability to absorb annual costs related to owning a median-priced home – is now at its lowest level since last October. At 69.5 in…
To the extent that Taiwanese export orders are a bellwether for global trade dynamics, the latest update for July provides a less pessimistic signal about the manufacturing cycle. It shows the pace of decline slowed sharply from 24.9% y/y in June to 12.0% y/y…
Mexican financial markets have been this year’s stellar outperformers, both in absolute terms and relative to their EM peers. Naturally, the question arises: how sustainable is this rally? According to our Emerging Markets Strategy team, Mexican markets…
The gold/silver ratio (GSR) entered a well-defined tapered wedge formation with downside support near 80, and an upside breakout around the 90 level. Back in 2020, this ratio was caught up in a race towards major overhead resistance at 100, but finally hit a…
Sweden’s preliminary Flash GDP data, which is subject to revisions, points a 1.5% quarter-over-quarter and 2.4% year-over-year contraction. However, this report could potentially constitute the trough in the country’s economic slowdown. Indeed, Sweden’s…
The Mexican peso is the best performing major currency so far this year, gaining 14% vis-à-vis the greenback over this period. Even during the latest bout of dollar strength since mid-July, MXN has weakened by the least among its peers. This follows an…
Chinese trade data continued to deliver a pessimistic signal about the global manufacturing cycle. The export contraction deepened to -14.5% y/y in US dollar terms in July – below expectations of a -13.2% y/y decline and the sharpest drop since early in the…
The Sentix Economic Index for the Eurozone sent a positive signal on Monday. It unexpectedly increased from -22.5 to -18.9 in August, surprising expectations of a further deterioration to -24.5. This marks the index’s first increase in four months. A…
On Friday, shipping giant Maersk delivered a pessimistic outlook for global trade. Although the company raised its 2023 earnings forecast, the upgrade comes on the back of a better-than-anticipated performance in the first half of the year. Ebitda fell by 72%…