HSBC flash manufacturing index up slightly

The HSBC flash manufacturing index in June was up slightly to 49.6 compared to 49.2 recorded in the previous month. This level is a 3 month high.

The full report can be found here.

US existing home sales highest since 2009

Sales of existing home sales jumped by 5.1% to increase to 5.35 million homes at an annualised rate. This is the highest jump since November 2009 according to Bloomberg.

I can`t say I like where this is heading. Lower down payment requirements and the fear of the Federal Reserve raising rates are causing even fence-sitters to purchase homes. This spells a recipe for disaster or even the next housing bubble when everyone wants a piece of the action.

UK CPI at 0.1% in May

The UK CPI (consumer price inflation) recorded a growth of 0.1% in May compared to a contraction of the same figure in April. The inflation report can be viewed here.

Unemployment claims: 267 thousand

The weekly unemployment claims dropped to 267 thousand.

US CPI in May

Core CPI (consumer price index) dropped to 0.1% in May from 0.3% in April while CPI grew by 0.4% compared to 0.1% in April.

The inflation report can be found on the Bureau of Labor Statistic`s website.

ECB`s targeted LTRO: 73.8 billion

The European Central Bank (ECB) handed out 73.8 billion to euro area banks. Bloomberg has a good write up on this.

UK retail sales in May up by 0.2%

UK retail sales observed a 0.2% increase in May. This is 26th consecutive month of growth. The full report can be found here.

SNB`s monetary policy unchanged

The Swiss National Bank (SNB) left the monetary policy unchanged. The somewhat generic report can be obtained here.

New Zealand economy grows by 0.2%

The GDP in New Zealand recorded a growth of 0.2%. The GDP report can be found here.

The main points of the report are:

• agriculture was down 2.3 percent, due to lower milk production
• mining was down 7.8 percent, due to decreased exploration activity, and oil and gas extraction
• business services was up 2.1 percent, due to scientific, architectural and engineering, and veterinary services
• retail trade and accommodation was up 2.4 percent, as overseas tourist spending increased
• transport, postal, and warehousing was up 2.5 percent, due to international air transport.

FOMC statement and economic projections

The Federal Open Market Committee`s (FOMC) economic projections can be found here.

On the other hand, the FOMC statement on monetary policy can be viewed here.