The Weekly Macro Outlook

It will be a relatively full week for the first week of the New Year. In the US, the focus will be on the results of the two important Georgia Senate runoff elections this week. The results will determine which party will control the US Senate. The focus over the next...

Highlights for the short week between the Christmas and New Year break include the sign off on the latest US government spending and relief bill and a light data week. News of the Covid-19 vaccination rollout is running alongside reports of new outbreaks, new...

The weekly macro review for w/c 14 December 2020 - Last week we noted that sentiment across many countries had been buoyed by news of a Covid-19 vaccine. But this has not stopped the rolling outbreaks from continuing to affect economies and households. In many cases,...

The weekly macro review for w/c 7 December 2020 - The roll-out of Covid-19 vaccines is helping to improve sentiment. But while prospects for the future are improving, there remains a more immediate/impending issue of the economic impact from the current outbreak as...

The weekly macro review for w/c 30 November 2020 - Data out of the US this week reflected some slowdown of the recent growth momentum. There has been a more localized approach to managing the spread of Covid-19 infections rather than any Nationally mandated approach....

Key highlights for the week will be important US data, global PMI’s for Nov, and US Fed Chairman Powell's testimony on the CARES Act. In the short-term, managing the spread of Covid-19 infections continues to impact economic activity. New cases remain extremely high...

The weekly macro review for w/c 16 November 2020 - Data from the US this week showed that the rebound in activity continued. A slight uptick in initial claims hinted at some possible impact from the growing level of state and regional restrictions. This will be...

The weekly macro review for w/c 9 November 2020 - Headline US consumer sentiment and expectations of future conditions both declined markedly at the start of Nov. This was the result of the election outcome and growing concern over the increase in Covid-19 infections....

The weekly macro review for w/c 2 November 2020 - US data this week continued to indicate improvement in the economy. Jobs growth improved – but there is still a long way before there is a full recovery of the jobs lost in Mar and Apr. The non-farm payrolls continue...

The US Presidential election, central bank policy decisions, and a heavy data week will feature against a backdrop of new peaks in Covid-19 infections in the US, Europe and the UK. Further restrictions have been announced for European countries, and another month-long...