Articles by: Miroslav Marinoff

Australia’s home loans surprisingly shrink in May

The total value of new home loans for owner-occupied homes in Australia unexpectedly shrank in May, by 2% month-over-month to AUD 18.13 billion, following a revised up 4.5% increase in April. In comparison, market consensus had pointed to a 2% growth in new home loans. In May, construction of dwellings contracted 0.7% after a 6% […] Read more

Spot Silver trades near 1-month peak as Fed cut bets rise

Spot Silver retreated on Monday, but remained not far from last Friday’s one-month high of $31.49 per troy ounce, as soft US data reinforced prospects of an interest rate cut by the Federal Reserve later this year. Data showed last Friday that the unemployment rate in the United States had risen to 4.1% in June, […] Read more

Norway’s manufacturing production rebounds in May

Manufacturing production in Norway was reported to have increased at a monthly rate of 1.3% in May, while rebounding from a revised down 5.5% drop in April. Production rebounded for most components: – textiles, wearing apparel & leather (8.4% in May after a 15.4% drop in April); – printing & reproduction (1.3% in May after […] Read more

Sweden’s economy expands 0.1% month-on-month in May

Sweden’s economy grew at a monthly rate of 0.1% in May, after contracting 0.7% in April, data by Statistics Sweden showed. Yet, the nation’s “economic activity remained lower than in the first quarter. Household consumption expenditure continued to weaken while lower imports concerning goods held up GDP,” Mattias Kain Wyatt, economist at Statistics Sweden, said […] Read more

Singapore’s retail sales rise 2.2% in May

Singapore’s retail sales were reported to have increased at an annualized rate of 2.2% in May, while rebounding from a 1.2% drop in April. In May, sales rebounded for cosmetics, toiletries & medical goods (3.1% YoY after a 4.6% YoY slump in April), furniture & household equipment (1.2% YoY after a 2.4% YoY drop in […] Read more

South Africa’s Forex reserves at $62.1 billion in June

Foreign exchange reserves in South Africa expanded to $62.100 billion in June from $62.087 billion in May, data by the South African Reserve Bank showed. It has been the highest level of foreign exchange reserves since March. The nation’s foreign currency reserves grew to $46.46 billion in June from $46.42 billion in May. Special Drawing […] Read more

Constellation Brands’ quarterly profit tops consensus

Constellation Brands’ (NYSE: STZ) quarterly profit outstripped Wall Street estimates, driven by robust demand for its core beer brands, including Modelo Especial and Pacifico. Yet, the company’s wines and spirits business, along with the broader consumer industry, experienced a slowdown in the US. The company reported net sales of $2.66 billion in the quarter, which […] Read more

Spot Gold set for 2nd weekly advance with NFP data in sight

Spot Gold firmed on Friday and looked set for a second consecutive weekly advance, with market focus setting on the key US Non-Farm Payrolls report, which may provide more clues on the Federal Reserve’s interest rate trajectory. Employers in all sectors of the US economy, excluding farming, probably added 190,000 job positions in June, according […] Read more

Switzerland’s CPI inflation eases to 1.3% in June

Annual consumer price inflation in Switzerland has eased to 1.3% in June from a four-month high of 1.4% in May, the latest data by the Swiss Federal Statistical Office showed. In June, prices continued to fall for clothing & footwear (-2% YoY versus -1.1% YoY in May) and for household goods & services (-2.5% YoY […] Read more

EMCOR announces $0.25 quarterly cash dividend

EMCOR (NYSE: EME) said on Wednesday that its Board of Directors had authorized a regular quarterly cash dividend of $0.25 per share of common stock. The dividend was kept unchanged from the previous quarterly dividend payment. The dividend will be paid on July 30th to shareholders of record as of the close of business on […] Read more