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24 Aug 2015
Key events for EZ and US - Danske
FXStreet (Barcelona) - Analysts at Danske Bank noted the key events for the EZ and US this week.
Key Quotes:
"While the external environment has become more challenging, economic data in both the US and euro area economy have been robust this week."
"In the US, a big fall in the Empire Index raised some eyebrows early in the week but a better-than-expected reading for the Philadelphia Fed survey suggests the fall in Empire was a special case. Initial jobless claims are also still hovering around historically low levels below 280,000, suggesting the economy is still in good shape. Housing data released this week continue to point to improvement in the housing market."
"The NAHB Housing Index rose to 61 in August, the highest level since 2005. US Q3 GDP is currently tracking around 2.5-3.0% growth. In the euro area, Flash PMI for August were better-than-expected and pointing to a slight reacceleration in growth following the softer Q2 growth (fell to 0.3% q/q from 0.4% q/q in Q1). The composite PMI index rose to 54.1, from 53.9, which is generally in line with growth around 0.5% q/q."
Key Quotes:
"While the external environment has become more challenging, economic data in both the US and euro area economy have been robust this week."
"In the US, a big fall in the Empire Index raised some eyebrows early in the week but a better-than-expected reading for the Philadelphia Fed survey suggests the fall in Empire was a special case. Initial jobless claims are also still hovering around historically low levels below 280,000, suggesting the economy is still in good shape. Housing data released this week continue to point to improvement in the housing market."
"The NAHB Housing Index rose to 61 in August, the highest level since 2005. US Q3 GDP is currently tracking around 2.5-3.0% growth. In the euro area, Flash PMI for August were better-than-expected and pointing to a slight reacceleration in growth following the softer Q2 growth (fell to 0.3% q/q from 0.4% q/q in Q1). The composite PMI index rose to 54.1, from 53.9, which is generally in line with growth around 0.5% q/q."