The Daily Shot 7/15/16: Global Macro Currents Jul15

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Greetings,1. We begin with China where the latest economic figures are for the most part stronger than forecast. The GDP, industrial production, the money supply growth and credit expansion all came in above expectations. Source: Investing.com US futures jumped on the data release from China. The charts below show year-over-year growth in retail sales and

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The Daily Shot 7/8/16: Global Macro Currents Jul8

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Greetings, We begin with several updates on the United States. 1. The ADP private payrolls report beat consensus, suggesting that the 175k nonfarm payrolls number expected on Friday is realistic. However, June ADP report also showed the first decline in private construction jobs since 2010. Moreover, the “goods-producing” sector payrolls have declined sharply. Related to the chart

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The Daily Shot 7/1/16: Global Macro Currents Jul1

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Greetings,  We begin with Thursday’s central bank activity globally.1. Mark Carney’s speech hinted at near-term easing by the BoE. Source: WSJ The British pound sold off sharply in response to Carney’s remarks … Source: @barchart​ … while the FTSE 100 hit a 10-month high. 2. It seems that the ECB may be considering revising the

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The Daily Shot 6/17/16: Global Macro Currents Jun17

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Greetings,   First, a quick administrative note. When possible/appropriate, we provide a link to further reading on the subject. Sources (listed below each chart) that are underlined represent links. Also, we often show the Twitter handle for references, which is a unique identifier that makes it easier for readers to learn more about each source.

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The Daily Shot 6/10/16: Global Macro Currents Jun10

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Greetings, We begin with the United States where wholesale inventories posted the biggest gain in 10 months. Goldman’s economists raised their Q2 US GDP forecast to 3.2% in response to the higher than expected inventories build. Source: Goldman Sachs This 3.2% GDP growth forecast is inconsistent with the latest Markit PMI report (discussed a couple of

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