Mainwire (A la Carte)

  • 2014-07-03 09:41


    --Payrolls Gain 288K; Unemployment Rate 6.1% (6.085% Unrounded)

    WASHINGTON (MNI) - The blowout June jobs numbers were above expectations on several levels despite weak construction, a tepid addition of temporary workers and a big surge in voluntary part-timers.

    Payroll jobs off the farm rose 288,000 in June and the unemployment rate improved another 0.2 point down to 6.1% - 6.085% - part of the 1.4 point decline in the past year, the Bureau of Labor Statistics reported Thursday.

    As strong as was the payrolls increase for June, after seasonal adjustment, it is overshadowed by April, now pulled by revision above 300,000, part of the 29,000 added by revisions for both April and May.

  • 2014-07-03 08:30


    --Insured Unemployment Rate 2.0% Adjusted, Same as Previous Week

    WASHINGTON (MNI) - For the fifth consecutive week, initial claims stayed in a tight range, rising 2,000 in the June 28 week to 315,000 after seasonal adjustment, the Labor Department reported Thursday.

    The latest week follows the previous week's 313,000, revised up 1,000, and going back further, 314,000, 318,000 and 313,000. It has been an exceptionally extended pattern of near-motionlessness for the series, which can be subject to volatility, especially around holidays.

    The median expectation in an MNI survey was not far off, at 314,000.

    The Labor Department again said there were no special factors impacting the report.

  • 2014-07-03 07:45


    --Focus Turns To Draghi's Press Conference Starting at 12:30 GMT

    FRANKFURT (MNI) - The European Central Bank's Governing Council decided at its monthly monetary policy meeting Thursday to leave its key refinancing rate unchanged at 0.15%.

    The decision to leave borrowing costs at their historic low after last month's ambitious package of measures was expected by a vast majority of observers despite the fact that annual Eurozone HICP remained at a recent low of 0.5% in June for the third time in four months.

    Monetary authorities are in absolutely no hurry to take any action so soon after having taken major steps.

  • 2014-07-03 00:59


    --BOJ: Japan June Consumer Sentiment Index -10.0 Vs Mar -6.4
    --BOJ: Japan June Sentiment Outlook Index -15.3 Vs Mar -16.5
    --BOJ: More People Expect Prices in Japan To Rise in 12 Months

    TOKYO (MNI) - Japanese consumer confidence worsened in June from three months ago, the first such deterioration in two quarters as more people reported a fall in their own or their family's income from a year earlier, according to the results of the Bank of Japan's quarterly survey released on Thursday.

    The survey was the first after the sales tax was raised to 8% from 5% on April 1.

    Rising prices, which surpassed pay growth, have eroded consumers' purchasing power, the data showed.

    According to the data, more people said prices had risen from a year earlier judging from costs for

  • 2014-07-02 22:57


    -Updated With Comments From Q&A On Macro-Prudential Tools, Non-Mining Econ, Exchange Rates -Monetary Policy Very Accommodative, No Threat From Housing Market

    -By Sophia Rodrigues

    SYDNEY (MNI) - The Reserve Bank of Australia's cash rate is well below "normal" levels but more cuts could be made as it is not yet close to the zero lower bound that some countries have reached, Governor Glenn Stevens said Thursday.

    In a speech in Hobart, Stevens said, "In either nominal or real terms, the cash rate is well below 'normal' levels, and comfortably below even the mooted lower 'new normal' levels."

    "Moreover, we still have ammunition on interest rates - we have not got close to the zero lower bound that has afflicted some other countries," he added.

    Stevens said the stance

  • 2014-07-02 22:17


    -More Supply To Help Rebalancing, Keep Lid On Prices

    SYDNEY (MNI) - From building approvals data for May published by the Australian Bureau of Statistics Thursday:

    May April

    --------------------------------------------------------------------------------

    (M/M %, seasonally (M/M %, seasonally adjusted) adjusted) Dwelling Units Approved +9.9 -5.8 (revised from -5.6) MNI Median +3.0 (Range -2.0 to +10.0) Dwelling Units Approved +1.1 (last month's Y/Y +14.3 release) Private

  • 2014-07-02 22:08


    -Food Related Retailing The Lone Outperformer

    SYDNEY (MNI) - Retail trade data for the month of May published by the Australian Bureau of Statistics Thursday:

    May April

    --------------------------------------------------------------------------------

    (M/M %, seasonally (M/M %, seasonally adjusted) adjusted) Retail Sales -0.5 -0.1 (revised from +0.2) MNI Median 0.0 (Range -0.5 to +0.3) Food Retailing +0.1 0.0 Household Goods -0.9 -1.3 Clothing, fo

  • 2014-07-02 21:29


    -Updated With Comments In the Speech On Communication -Monetary Policy Very Accommodative, No Threat From Housing Market

    -By Sophia Rodrigues

    SYDNEY (MNI) - The Reserve Bank of Australia's cash rate is well below "normal" levels but more cuts could be made as it is not yet close to the zero lower bound that some countries have reached, Governor Glenn Stevens said Thursday.

    In a speech in Hobart, Stevens said, "In either nominal or real terms, the cash rate is well below 'normal' levels, and comfortably below even the mooted lower 'new normal' levels."

    "Moreover, we still have ammunition on interest rates - we have not got close to the zero lower bound that has afflicted some other countries," he added.

    Stevens said the stance of monetary policy currently is "very

  • 2014-07-02 21:03


    -Monetary Policy Very Accommodative, No Threat From Housing Market

    -By Sophia Rodrigues

    SYDNEY (MNI) - The Reserve Bank of Australia's cash rate is well below "normal" levels but more cuts could be made as it is not yet close to the zero lower bound that some countries have reached, Governor Glenn Stevens said Thursday.

    In a speech in Hobart, Stevens said, "In either nominal or real terms, the cash rate is well below 'normal' levels, and comfortably below even the mooted lower 'new normal' levels."

    "Moreover, we still have ammunition on interest rates - we have not got close to the zero lower bound that has afflicted some other countries," he added.

    Stevens said the stance of monetary policy currently is "very accommodative" with the cash rate and the rate for bo

  • 2014-07-02 19:30


    -Respondents Cite Worries Over Economy, Budget Impact On Confidence

    SYDNEY (MNI) - From AI Group's Australian Performance of Services Index (Australian PSI) for June published Thursday.

    June Change Over Last Month

    ---------------------------------------------------

    Australian PSI 47.6 -2.3 Sales 49.8 -0.7 New Orders 49.3 -2.7 Employment 46.4 +0.6 Stocks 45.2 -7.1 Supplier Deliveries 44.5 -5.9 Input Prices 57.3 -1.2 Selling Prices 46.6 +4.5 Average Wages 57.7 +3.5 Capacity Utilization 76.3%