Macro Roundup (Apr 15)-Shanghai Metals Market

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Macro Roundup (Apr 15)

Data Analysis 08:46:24AM Apr 15, 2019 Source:SMM

SHANGHAI, Apr 15 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.

Last weekend

LME base metals traded higher across the board on Friday April 12. Zinc saw the biggest gain of 1.9%, copper climbed close to 1.6%. lead and nickel gained some 0.4%, tin and aluminium advanced about 0.3%.

SHFE base metals, except for lead and nickel, ticked higher on Friday night. Copper rose 0.7%, zinc gained close to 0.6%, tin crept up 0.4% and aluminium popped 0.1%.

The US dollar index slipped on Friday as the euro rose sharply on reports that a Japanese bank planned to purchase a German multi-billion dollar aviation finance business, while higher European stocks, US stocks, futures and Treasury yields lowered demand for the safe-haven greenback.

China’s trade surplus soared past expectations in March as greater exports offset weaker imports.

Dollar-denominated exports rose 14.2% in March from a year earlier, customs data showed on Friday, the strongest growth in five months. Economists had expected a gain of 6.5% after a decline of 20.7% in February.

But dollar-denominated imports lost 7.6% in March from a year ago, after it fell 5.2% in February.

This gave China a March trade surplus of $32.64 billion, much larger than the expected $7.05 billion.

China's new yuan-denominated loans stood at 1.69 trillion yuan in March 2019, up 577.7 billion yuan year on year, central bank data showed Friday.

In the first three months, new yuan-denominated loans increased by 952.6 billion yuan year on year to hit 5.81 trillion yuan, according to the People's Bank of China (PBOC).

The seasonal surge in new yuan loans in January accounted for the growth in the first quarter this year. China's new yuan-denominated loans stood at 3.23 trillion yuan in January 2019, central bank data showed.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.6% year on year to 188.94 trillion yuan at the end of March, according to the PBOC.

Newly-added social financing, a measurement of funds that individuals and non-financial firms get from the financial system, stood at 2.86 trillion yuan in March, up 1.28 trillion yuan year on year.

In the first three months, newly-added social financing totalled 8.18 trillion yuan, up 2.34 trillion yuan from the same period last year.

By the end of March, China's total outstanding social financing rose 10.7% year on year to 208.41 trillion yuan.

US drillers added two oil-directed rigs in the week ended April 12, bringing the national count to 833 rigs, oilfield services firm Baker Hughes reported on Friday.

In the Eurozone, industrial output declined in February by less than expected, with the EU’s statistics office Eurostat reporting that production across the 19 countries fell by 0.2% month on month. Economists polled by Reuters had expected a 0.6% monthly decrease.

Day ahead

President of the Federal Reserve Bank of Chicago, Charles Evans will speak at the New York Association of Business Economists (NYABE) economic luncheon in New York. President of the Federal Reserve of Boston, Eric Rosengren will speak at the 33rd Annual Cornelson Distinguished Lecture hosted by Davidson University in Davidson, North Carolina.

Key Words:  Macroeconomics 

Price

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Gold(99.99%)
Apr.24
278.4
-1.0
(-0.34%)
Gold(99.95%)
Apr.24
278.3
-1.0
(-0.36%)
#1 Silver(99.99%)
Apr.25
3499.0
20.0
(0.57%)
Silver(99.95%)
Apr.25
3484.0
20.0
(0.58%)
Silver(99.90%)
Apr.25
3469.0
20.0
(0.58%)

Macro Roundup (Apr 15)

Data Analysis 08:46:24AM Apr 15, 2019 Source:SMM

SHANGHAI, Apr 15 (SMM) – This is a roundup of global macroeconomic news last weekend and what is expected today.

Last weekend

LME base metals traded higher across the board on Friday April 12. Zinc saw the biggest gain of 1.9%, copper climbed close to 1.6%. lead and nickel gained some 0.4%, tin and aluminium advanced about 0.3%.

SHFE base metals, except for lead and nickel, ticked higher on Friday night. Copper rose 0.7%, zinc gained close to 0.6%, tin crept up 0.4% and aluminium popped 0.1%.

The US dollar index slipped on Friday as the euro rose sharply on reports that a Japanese bank planned to purchase a German multi-billion dollar aviation finance business, while higher European stocks, US stocks, futures and Treasury yields lowered demand for the safe-haven greenback.

China’s trade surplus soared past expectations in March as greater exports offset weaker imports.

Dollar-denominated exports rose 14.2% in March from a year earlier, customs data showed on Friday, the strongest growth in five months. Economists had expected a gain of 6.5% after a decline of 20.7% in February.

But dollar-denominated imports lost 7.6% in March from a year ago, after it fell 5.2% in February.

This gave China a March trade surplus of $32.64 billion, much larger than the expected $7.05 billion.

China's new yuan-denominated loans stood at 1.69 trillion yuan in March 2019, up 577.7 billion yuan year on year, central bank data showed Friday.

In the first three months, new yuan-denominated loans increased by 952.6 billion yuan year on year to hit 5.81 trillion yuan, according to the People's Bank of China (PBOC).

The seasonal surge in new yuan loans in January accounted for the growth in the first quarter this year. China's new yuan-denominated loans stood at 3.23 trillion yuan in January 2019, central bank data showed.

The M2, a broad measure of money supply that covers cash in circulation and all deposits, rose 8.6% year on year to 188.94 trillion yuan at the end of March, according to the PBOC.

Newly-added social financing, a measurement of funds that individuals and non-financial firms get from the financial system, stood at 2.86 trillion yuan in March, up 1.28 trillion yuan year on year.

In the first three months, newly-added social financing totalled 8.18 trillion yuan, up 2.34 trillion yuan from the same period last year.

By the end of March, China's total outstanding social financing rose 10.7% year on year to 208.41 trillion yuan.

US drillers added two oil-directed rigs in the week ended April 12, bringing the national count to 833 rigs, oilfield services firm Baker Hughes reported on Friday.

In the Eurozone, industrial output declined in February by less than expected, with the EU’s statistics office Eurostat reporting that production across the 19 countries fell by 0.2% month on month. Economists polled by Reuters had expected a 0.6% monthly decrease.

Day ahead

President of the Federal Reserve Bank of Chicago, Charles Evans will speak at the New York Association of Business Economists (NYABE) economic luncheon in New York. President of the Federal Reserve of Boston, Eric Rosengren will speak at the 33rd Annual Cornelson Distinguished Lecture hosted by Davidson University in Davidson, North Carolina.

Key Words:  Macroeconomics