This one slipped through the net while we concentrated on NFP
Trade balance -44.5bn vs -43.0bn exp. Prior -41.1bn
Exports 0.3% vs -0.1% prior
Imports 1.9% vs 1.6% prior
and massive imports from China of computers, mobile phones and clothing
helped raise the deficit to the highest in 10 months. On the face of
it, you could view the numbers negatively on the just the deficit basis
but the items that came in from China could relate strongly to consumer
demand, which is good news for the economy.
US NFIB small business optimism July 94.6 vs 94.5 exp
US July NFIB small business optimism report 9 August
Not a game changer. One for general filing.
National Federation of Independent Business (NFIB) Small Business
Optimism Index is a composite of ten seasonally adjusted components. It
provides a indication of the health of small businesses in the U.S.,
which account of roughly 50% of the nation's private workforce.
Weekly layoffs in the US halted their two-week upturn last week, the Department of Labor said on Thursday, but remained low from a broader perspective, with the respective gauge hovering near a three-month low.
number of people filing for unemployment benefits booked 266,000 in the
seven days ending August 6, compared with the previous week's revised
That's marginally more than the market estimate of a slight fall to 264,000 claimants.
three weeks ago the figure touched the lowest level since claims
touched a post-recession bottom of 248,000 in mid-April, dipping below
250,000 for the first time since the early 1970s. Barring some
volatility following the Easter holiday period, the gauge of layoffs has
been sitting at these low levels.
Ex Food and Energy -0.3.% vs. +0.2% est. PPI YoY -0.3% vs +0.2% est.
The US PPI was a miss with the MoM for July coming in at -0.4% vs +0.1% increase. The prior month came in at 0.5%.
you subtract food and energy, the MoM was also weaker at -0.3% vs +0.2%
estimate. Taking out the effects of trade another miss with the number
coming in at 0.0% vs +0.2% estimate (last +0.3%).
YoY PPI final demand came in negative at -0.2% vs +0.2% estimate.
Taking out ex food and energy YoY, the number plunged to +0.7% from
1.3% last month and 1.2% estimated (see chart below). That measure is
going the wrong way again.
August 2016 US Michigan consumer sentiment 90.4 vs 91.5 exp
Details form the August 2016 US Michigan consumer sentiment report 12 August 2016
Current conditions 106.1 vs 109.0 exp. Prior 109.0
Expectations 80.3 vs 78.1 exp. Prior 77.8
1 year inflation expectations 2.5% vs 2.7% prior
5yr 2.6% vs 2.6% prior
up on last month but not as much as hoped. Current conditions waver a
tad but expectations gain. Inflation dropped to on the 1yr expectations,
even so, they are still well up. There's nothing volatile here to
change the current mood in the dollar.