UOB Group’s Senior Economist Alvin Liew comments on the revised Q2 GDP figures in Singapore. Key Takeaways “Singapore’s final 2Q 2022 GDP was revised lower sequentially to a contraction of 0.2% q/q SA (versus prelim print of 0.0% q/q SA) after recording a downwardly revised 0.8% expansion in 1Q (from 0.9% previously). Compared to a… Read More »
Senior Economist at UOB Group Alvin Liew reviews the latest US inflation figures and the impact on the Fed’s rate path in the near term. Key Takeaways “Both key measures of US inflation came in below expectations for Jul. US headline consumer price inflation was still elevated but came off from recent highs, to 8.5%… Read More »
Gold still faces a determined Fed tightening policy and a strong USD. If market sentiment shifts to a 50 bps rate hike as opposed to 75 bps, this may act to limit the near-term downside for the yellow metal, in the view of analysts at HSBC. Near-term upside for gold is limited “As the Fed… Read More »
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting comment on the publication of the Malaysian jobs report. Key Takeaways “Malaysia’s labour market continues its steady march towards full recovery with the number of employed persons and unemployment rate improving further. Total number of employed persons rose for the 11th month by 36.3k… Read More »
UOB Group’s Senior Economist Julia Goh and Economist Loke Siew Ting assess the latest foreign capital flows data in the Malaysian economy. Key Takeaways “Malaysia recorded further foreign outflows of MYR3.4bn in Jul albeit narrower compared to MYR5.4bn in the previous month. This has reversed year-to-date cumulative flows to an outflow of MYR0.6bn in Jan-Jul… Read More »
Tensions are running high with rising fears over a Chinese invasion of Taiwan in the not too distant future. While risks are rising, economists still see a rather small probability of a Chinese invasion of Taiwan in the next couple of years. However, the risk of war in the medium to longer term is high,… Read More »
Despite the broad-based slide of the US dollar on Wednesday following the US CPI, analysts at Rabobank still see the GBP/USD vulnerable to the downside and warn it could drop back again under 1.20 on a one to three-month view. Key Quotes: “Last week the market was taken by surprise by the candid tone adopted… Read More »
The US Consumer Price Index surprised to the downside in July, showed data released on Wednesday. Analysts at Wells Fargo point out that falling prices for gasoline, used autos and travel service categories such as airline fares, car rentals and lodging away from home helped cool monthly inflation from the torrid pace seen in May and… Read More »
In recent weeks, the discussion about the effectiveness of Western sanctions against Russia has increased. Strategists at Commerzbank come to four main conclusions. Success or failure? “The Russian sanctions imposed by the EU and other Western countries do not lead to a collapse of the Russian economy. But they can be expected to significantly harm… Read More »
UK equities have held up well. The FTSE 100 index is up 1.5% year to date, outperforming other major markets. Economists at UBS see reasons why UK equities can continue to do well. The drivers of the FTSE 100 are more international “FTSE 100 companies generate around 75% of their revenues outside the UK, which… Read More »
