Macro Roundup (Oct 16)

Published: Oct 16, 2018 08:23

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Macro Roundup

SHANGHAI, Oct 16 (SMM) – This is a roundup of global macroeconomic news last night and what is expected today.

Last night

The US dollar dipped on Monday after retail sales data for September missed expectations and as benchmark US Treasury yields consolidated after they climbed to their highest level in seven years, last week.

US retail sales barely rose in September as a rebound in purchases of motor vehicles was offset by the biggest drop in spending at restaurants and bars in nearly two years. Retail sales edged up only 0.1% in the month, compared with an expected increase of 0.6%.

Retail sales in September rose 4.7% from a year ago.

LME base metals ended mixed on Monday. Lead continued its strong performance and gained 1.6% on the day. Aluminium and tin edged up some 0.1% while copper and nickel slid close to 0.8% and zinc dropped 1.7%.

SHFE base metals ended in negative territory overnight. Zinc and nickel lost over 1%, copper slipped close to 0.6%, lead dropped 0.4% and aluminium edged down 0.2% while tin rose by 0.13%.

Day ahead

Some data to monitor today include consumer and producer prices, total social financing (TSF) and broad M2 money supply in September for China, the trade balance in August across the eurozone and the ZEW economic sentiment in October, Germany's ZEW economic sentiment in October, US industrial output in September and the August data for Job Openings and Labor Turnover Survey (Jolts) by the US Bureau of Labor Statistics.

Macroeconomics

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