Japan Jul Eco Watchers' Index Climbs More Than Forecast

on , from rttnews.com

A measure of peoples' assessment of the Japanese economy increased more-than-expected in July, after falling sharply in the previous month, survey figures from the Cabinet Office showed Monday. The current index of Economy Watchers' survey rose to 47.1 in July from 41.5 in June. Economists had expected the index to climb to 42.5. Any reading above 50 indicates optimism and a reading below 50 suggests pessimism. The outlook index went up by 3.9 points to 45.1 in July from 41.2 in the preceding month. It was expected to improve slightly to 42.0. (Read the full story)

Coordination in Price Setting and the Zero Lower Bound: A Global Games Approach

on , from or.jp

In this paper, I construct a two-period general equilibrium model and describe price competition among monopolistically competitive firms as a coordination game. While the model has multiple equilibria with different levels of inflation (positive or zero), the equilibrium selection in line with global games implies that the economy with a high natural interest rate, i.e., high expected productivity growth, tends to move into the equilibrium with positive inflation. The policy analyses indicate that monetary policy measures such as an increase in the target inflation rate and a decrease in the lower bound of nominal interest ... (Read the full story)

Rio Games Far From Sold Out, Ticket Sales at 82%

on , from fortune.com

And long lines yesterday frustrated with those who have purchased tickets. Another day of Olympic sports played out before empty seats led to an admission from organizers that only Friday’s Opening Ceremony has so far sold out. Demand for tickets is running at 82%, considerably below London four years ago even though they are roughly half the price. Not even Brazil’s Olympic soccer team in its first match at the Games has attracted a capacity crowd and on Sunday the women’s sevens tournament was played in front of at best half-filled 15,000-seater Deodoro stadium while only a few thousand spectators watched the women’s cycling ... (Read the full story)

China Exports Remain Subdued as Import Drop Fuels Demand Concern

on , from bloomberg.com

China’s exports remained sluggish last month, signaling tepid global demand, while deteriorating imports raise concern domestic conditions may be weakening anew. Key Points Overseas shipments fell 4.4 percent in U.S. dollars, rose 2.9 percent in yuan terms in July from a year earlier Imports dropped 12.5 percent in dollar terms, slipped 5.7 percent in local currency Trade surplus widened to $52.3 billion Big Picture A year on from China’s surprise devaluation of the yuan, the weaker currency is buffering the effects of weak global demand as local receipts get a boost. With no help to growth from the external sector, policy makers ... (Read the full story)

Pound To New Zealand Dollar Outlook: Will RBNZ Rate Cut Boost GBP/NZD?

on , from exchangerates.org.uk

On Friday, positive US data allowed the GBP to NZD exchange rate to recover from the losses made on Super Thursday. The Pound to New Zealand Dollar exchange rate today: +0.1% at 1.83275. The New Zealand Dollar to Pound Sterling exchange rate today: 0.54563. Despite being in a weakened state on Friday, British pound (GBP) advanced against the NZ dollar (NZD) on the back of strong US jobs data. Recent Bank of England (BoE) policy easing had weighed on Pound Sterling, but a strengthening US Dollar pressured the New Zealand Dollar lower, with the Non-Farm Payrolls report showing job creation of 255k. Meanwhile, markets were ... (Read the full story)

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