Francesc’s Weblog » Danske Bank - Global Business Cycle Monitor: More recovery signals

Francesc's Weblog

Francesc Riverola,
CEO & Founder of FXstreet.com

Or subscribe via email:

Next webinar

Ichimoku Trading: Strategies, Setups and What to Watch for
by Chris Capre
February 09, 15:00 GMT
Register for the webinar

FXstreet.com Weblogs

Links

Danske Bank - Global Business Cycle Monitor: More recovery signals

Posted on July 6, 2009 at 13:00 in Forex, World Economy by Francesc

Global PMI rose further in June, but the increase was smaller than in previous months. OECD’s leading indicators, however, continue to rise strongly and reached levels signalling above-trend growth in Q4 09.

The order-inventories balance from PMI data also continues to point to a marked increase in global growth in H2 09.

In the US most leading indicators continued higher. The ISM new orders index slipped slightly in June, though, after rising strongly for several months.

In Euroland OECD’s leading indicator, the PMI order-inventory balance, and ZEW point to a significant rebound in H2 growth. Other surveys point to a more muted recovery. In Scandi a sharp rise in Swedish PMI stands out rising above 50 for the first time since June 2008. Other countries and surveys also point to improvement, albeit at a slower pace.

Asia continues to perform strongly. Especially the sharp rebound in industrial production in Japan, Taiwan and South Korea is worth highlighting. CEE shows further rise in PMI. Russian PMI increased strongly again in June.

Outlook: We look for further improvement in leading indicators in coming quarters and for some catch up in the US and Europe in H2 09 following the production rise in Asia.
Full Story

Tags: Global Business Cycle, Global Economy, Leading Indicators, More Recovery Signs of Global Economy

Trackback URI | Comments RSS

Theme by Forex Street Powered by Wordpress

The comments and posts published in this blog ARE NOT trading recommendations. They can NEVER be considered as trading calls or advices. If you decide to use the information offered here for your real trading it is at your own risk.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.