00:50am - Japan Trade Bal (¥721.4bln)
02:30am - Aussie NAB Biz Conf
02:30am - Aussie Employment Data
07:00am - Japan Machine Tool Orders
09:30am - HK Unemployment Rate
Europe:
09:30am - UK Retail Sales
US:
13:30pm - Canadian ADP Payrolls Report
13:30pm - US Initial Jobless Claims
13:30pm - US Philly Fed
14:00pm - Fed's Quarles Speaks
15:00pm - US Leading Index
Market Focus this Morning...
- Fed's Beige book saw the U.S. economic expansion rolling along and labour markets tightening in June and early July, even as tariffs heightened concern among manufacturers and boosted some producer prices, with 10 out of 12 of the districts reporting “moderate or modest” growth.
- Fed's Powell said low inflation worries linger even as risks are balanced
- Trump says he may agree on a trade deal with Mexico before Canada, helping the MXN erase losses.
- President Trump says he holds Russian President Putin responsible for meddling and that he told Putin 'can't have meddling', according to CBS news
- President Trump says he accepts Director of National Intelligence's conclusion that Russia continues to meddle in election
- President Trump advisor Kudlow says economic growth could top 4% for 'a quarter or two,' more tax cuts could be coming, adding that he doesn't necessarily agree with all the trade tactics.
- ECB's Villeroy sees the French economy stronger than feared and that the ECB may raise rates from summer 2019 at the earliest, adding that the timing of the first rate hike depends on inflation.
- UK expectations of an August rate hike fell 10% to 74% after weaker CPI data.
- PBoC is said to be mulling over incentives to improve liquidity at commercial banks, as well as help banks expand lending and bond investment and, also as a means to support growth, are planning to increase certain salaries and expand middle-class population.
- Goldman Sachs forecasts RBNZ rate hike in February next year.
- Google said to get around €4.3bln fine over Android.
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