• Thursday, October 20, 2016 - 15:34 Analysis: Euro Approaches Post Brexit Lows; EZ Stocks Firm 0

    By Vicki Schmelzer

    NEW YORK (MNI) - The euro fell to four-month lows Thursday, in the wake of the European Central Bank's decision and ECB President Mario Draghi's press conference.

    The pair tracked German Bund yields lower on the day, and stalled once it was clear that U.S.

  • Thursday, October 20, 2016 - 11:10 US NAR: Sept Exist Home Sales Rebound 3.2%, 5.47M; Supply Lags 0

    --Homes Available Drop 6.8% From Year Ago; 4.5 Months Supply
    --'Very Disappointing' No 'Meaningful Gain' in Housing Starts

    WASHINGTON (MNI) - A welcome rebound in home resales, up 3.2% in September to an above-expectations annual rate of 5.47 million, was accompanied by more lagging production of new homes which is taking the anticipated strength out of third quarter GDP, the National Association of Realtors said Thursday.

    The turnaround from two months of declining sales was a relief, nevertheless, NAR Chief Economist Lawrence Yun told reporters, suggesting there is no change in the underlying trend of...

  • Thursday, October 20, 2016 - 08:30 ANALYSIS: US Jobless Claims Up 13,000 To 260,000 In Oct 15 Wk 0

    By Kevin Kastner

    WASHINGTON (MNI) - Initial claims for U.S. state unemployment benefits rose by 13,000 to a higher-than-expected level of 260,000 in the Oct. 15 employment survey week, data released by the Labor Department Thursday showed.

    Claims were at a level of 251,000 in the Sept. 17 employment survey week, so the modest month-on-month increase could be small negative factor for September payrolls.

    Seasonal adjustment factors had expected a decrease of 7.2% or 17,059 unadjusted claims in the current week. Instead, unadjusted claims fell by only 5,400 to 233,181. The current week's unadjusted level was slightly ahead of the 232,860 level in the comparable week a year ago.

  • Thursday, October 20, 2016 - 04:30 UK Analysis: Sept Retail Sales Unchanged; Will Boost Q3 GDP 0

    -UK September total sales unchanged m/m, +4.1% y/y -UK September non-fuel sales unchanged m/m, +4.0% y/y

    LONDON (MNI) - Retail activity held steady in the month of September, but gains over the previous two months leave the sector poised to contribute positively to third quarter gross domestic product.

    Sales volumes were unchanged between August and September, falling short of the median MNI forecast of a 0.3% rise. On an annual basis, retail sales gained by 4.1%, exceeding the MNI median of a 4.5% improvement.

    Household goods sales provided the biggest upward influence to sales in September, rising by 3.7% over August.

  • Wednesday, October 19, 2016 - 21:19 PBOC Injects Combined CNY200 Bln at Open Market Operations 0

    BEIJING (MNI) - The People's Bank of China injected a total of CNY200 billion via open market operations Thursday, traders said.

    The central bank injected CNY100 billion through a seven-day reverse repo, CNY50 billion via a 14-day reverse repo, and CNY50 billion through a 28-day repo.

    This resulted in a net injection of CNY120 billion at OMOs for the day.

    The benchmark seven-day repo opened at 2.25%, unchanged from Wednesday.

    --MNI Beijing Bureau; +86 (10) 8532-5998; email: beijing@mni-news.com
    --MNI Singapore Bureau; tel: +65 9189-5705; email: sumathi....

  • Wednesday, October 19, 2016 - 17:18 Analysis: BOC Chief Reminds Rate Cuts Not Off The Table 0

    By Yali N'Diaye

    OTTAWA (MNI) - Going into Wednesday monetary policy announcement, most analysts were expecting the Bank of Canada to leave its overnight rate target unchanged at 0.50% and downgrade its economic outlook, which it did, with the question being more about how much longer a rate hike would be delayed rather than whether a rate cut would occur.

    Governor Stephen Poloz, however, signaled that while risks to the inflation outlook are "roughly balanced," a rate cut was not off the table.

    "Given the downgrade to our outlook, Governing Council actively discussed the possibility of adding more monetary stimulus at this time, in order to speed up the return of the economy to full capacity," he said in an opening...