Wells Fargo: Mixed global economic releases

Wells Fargo analysts point out that the economic data released last week from across the globe have been decidedly mixed.

Key Quotes

“In Eurozone service sector confidence improved, but manufacturing confidence fell into contraction territory. Australian employment figures were sturdy, but other data were mostly soft in tone.”

“Finally, in Japan, economic figures over past five days have been generally subdued. Given this mixed backdrop, things should remain quiet on global central bank front for now.”

“Central bank comments from Europe & Japan have been mostly dovish in recent weeks, while Australia has adopted a more balanced outlook. It could still be some time before these central banks adjust policy rates.”