The euro held at the day's highs on Thursday after ECB President Mario Draghi presented a relatively confident outlook for the euro zone economy, contrary to some expectations that he would take a more cautious stance after
recent weak data.
However,
the recent weak data is potentially good news for eurozone stocks, because investors are likely interpreting it to mean that the ECB will continue its QE.
Not exact matches
But there was cause for caution too: Disappointing British manufacturing and consumer lending figures added to Europe's
recent run of poor
data, worries about Iran's nuclear deal simmered in oil markets, and Wall Street was waiting for Apple's results following
recent whispers of
weak iPhone demand.
The market still expects the Bank of England to hike rates even as
recent data pointed
weaker, says Kathy Lien of BK Asset Management.
Sterling has fallen on
weaker - than - expected inflation and retail sales
data and comments from BOE Governor Mark Carney on Thursday, which traders interpreted as the BOE's being less committed to raising rates in May due to
recent «mixed»
data.
Analysts are currently calling for 140,000 new job's in the government's report this Friday, but the sum of the
data in
recent days is mixed at best as both ISM reports point to
weak hiring, but this morning's
data points to better than expected figures.
It adds to the
recent spate of
weaker data coming out of the eurozone and really underlines the fact that the ECB can afford to be a little bit patient in terms of ramping up its hawkish rhetoric when it comes to its QE policy, said Bipan Rai, director of foreign exchange strategy at CIBC Capital Markets in Toronto.
Recent data suggests
weak global demand for Chinese - made goods, declining levels of factory activity and a slip in the amount of freight being carried by the China's rail network.
To be sure, the most
recent economic
data argue for a stronger currency, not a
weaker one.
Harlan Levy: From the most
recent data, including robust retail sales, slightly declining consumer confidence, and
weak manufacturing, what is keeping the U.S. economy recovering at its subpar pace?
Data from sources such as the Metals Economics Group (MEG) in Canada and Price Water house Coopers suggest that global spending on exploration has been relatively
weak in
recent years, following a sharp fall in the late 1990s.
Bill Hester notes that going back as far as Depression era
data, that same behavior coupled with a rich Shiller P / E (anything above the mid-teens) and a preponderance of daily declines in
recent data (say down 11 days out of 14) has preceded even worse outcomes - particularly in the context of a
weak economic backdrop.
Two areas of the US economy that have been
weak are business investment and employment, although
recent data have been more positive.
As for U.S.
data, the broad aggregate continues to come in
weaker than expected, with a
recent downturn in a broad basket of national and regional economic surveys, and of course, a disappointing April unemployment report (avoiding a negative print, however, which I suspect will come in the May report).
Global economic conditions have improved over
recent months, with stronger economic
data emerging in the US, Japan and most other countries in east Asia, though the euro area remains
weak.
And another
recent review (2016) reported the following: «Overall, the
data suggest that in the absence of a known fibrostenotic stricture with obstructive symptoms, a high fiber diet is likely safe in patients with IBD and may impart a
weak benefit.»
Most U.S. students continue to have a
weak grasp of civics, as well as U.S. history and geography,
recent national
data suggest.
As my colleague Russ Koesterich points out in a
recent post, economic
data was mixed over the first quarter, with sluggish economic growth, a soft jobs report and
weak manufacturing reports leading to diminishing consensus around company earnings.
The problems are compounded by
recent economic
data that has suggested the first quarter will end on a
weak note.
Recent weak economic
data have confirmed everyone's worst fears: The global economy is indeed decelerating.
In the most
recent quarter for which we have reliable
data, the largest solar markets after California were Utah, Texas and Georgia — states with
weak or no renewable energy mandates, but ample sun.
Other, more
recent data sets, such as the Kitt Peak and MDI magnetograms, and they too also show that the polar fields were
weak during the cycle 24 minimum compared with the cycle 23 minimum (de Toma 2011; Gopalswamy et al. 2012).
In a
recent survey of 500 information technology and
data security workers, 40 percent said they could easily use their knowledge of encryption keys, shared passwords,
weak controls and loopholes in
data security programs to make off with information, or hold their organization's
data hostage.
As Lenovo indicates in a
recent support bulletin, versions of the utility older than 8.01.87 are vulnerable to attack thanks to a
weak algorithm and a hard - coded password — leaving sensitive
data accessible to any user with local non-administrative access to a machine.