Wednesday, 1 August 2018

Things To Look Out For Today - Events & Data (Ldn Times)...

Things To Look Out For Today - Events & Data (Ldn Times)...
Asia:
23:30pm  - Aussie AiG Perf of Mfg Index (52.0)
23:45pm  - NZ Unemployment Rate (4.5%)
23.45pm  - NZ Employment Change QoQ (0.5%)
00:00am  - S Korea CPI MoM (0.2%)
00:00am  - S Korea Core CPI YoY (1.1%)
00:00am  - Aussie CBA PMI Mfg (52.4)
01:00am  - Aussie Corelogic Hse Prx MoM
01:30am  - Japan Nikkei PMI Mfg
01:30am  - S Korea Nikkei PMI Mfg
02:45am  - China Caixin PMI Mfg
06:00am  - Japan Vehicle Sales YoY
10:00am  - India Rate Decision
Europe:
00:01am  - UK BRC Shop Px YoY (-0.3%)
07:00am  - UK Nationwide House Px
08:50am  - French Markit PMI Mfg
08:55am  - German Markit PMI Mfg
09:00am  - Eurozone Markit PMI Mfg
09:30am  - UK Markit PMI Mfg
US:
12:00pm  - US MBA Mortgage Applications
13:15pm  - US ADP Employment Change
14:30pm  - Canadian Markit PMI Mfg
14:45pm  - US Markit PMI Mfg
15:00pm  - US Construction Spending
15:00pm  - US ISM Manufacturing
19:00pm  - US FOMC Rate Decision
Market Focus this Morning...
- US said to plan higher tariffs on $200bln of Chinese goods (25% instead of 10%), to be announced over the next few days. This as US-China trade talks set to avert a trade war show little progress.
- China State media states that its GDP will reach target despite challenges
- Apple's earnings and revenue numbers beat expectation, leaving the shares up 3% initially after the results.
- US and Mexico said to be nearing auto deal with Mexico President-elect Amlo believing that an agreement on NAFTA renegotiation can be reached within the coming days.
- The IMF has warned eurozone governments they will need to give Greece more long-term debt relief to stop the country from being locked out of financial markets as it prepares for life outside a bailout programme.
- U.S. spy agencies are seeing signs that North Korea is constructing new missiles at a factory that produced the country's first ICBM capable of reaching the United States, according to officials familiar with the intelligence.
- Eurozone economic growth slowed in second quarter as inflation accelerated to its highest level since late 2012
- UK's Foreign Secretary Jeremy Hunt today issued an urgent appeal asking France and Germany to make the European Commission strike a “sensible” pro-jobs trade deal with Britain. Mr Hunt said the likelihood of the country crashing out of the EU with No Deal is “increasing by the day”.
- ECB's Rehn, (Liikanen's replacement), said “Outlook for economic growth in the euro area is still stable and employment has improved substantially. Even though the pace of economic growth is slowing, there is no downturn in sight."
- BoJ's Kuroda said that there was no need for additional stimulus but they would add if needed and that drag factors on achieving the inflation target will dissipate. On allowing bond yields to move in double the range of +0.1% and -0.1% it doesn't mean they intend to raise interst rates.

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