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

Asia:
23:30pm  - NZ Perf Services Index (55.1)
23:45am  - NZ Food Prices MoM (0.7%)
01:00am  - Singapore GDP QoQ (0.6%)
13:00pm  - India CPI

Europe:
00:01am  - Irish Cons. Conf. Index (107.6bln)
09:00am  - Italian CPI

US:
No Data of note...


Market Focus this Morning...
- Turkey's Erdogan called for those with foreign FX and Gold to convert it to Turkish Lira. He said Turkey would prevail in economic warfare and that the attacks were based on 'simple difference of opinions' and the 'Turkish nation won't bow in front of threats'
- Trump on Friday authorised a doubling of tariffs on steel and aluminium for Turkey. Aluminum will now be 20% and Steel 50%
- ECB concerns grow over EU banks’ Turkey exposure as lira slides. Lenders from Spain, France and Italy viewed as vulnerable to weak lira.
- Russia would consider any U.S. move to curb the operations of Russian banks or their foreign currency dealings a declaration of economic war, Prime Minister Dmitry Medvedev said on Friday.
- A Beckner piece for ITC said the preferred inflation measure is the price index for personal consumption PCE , which is +2.2%, and that the FED are well pleased with its Aug 1st meeting using stronger language.
- Most private economists see the Federal Reserve raising short-term interest rates two more times this year, once in September and again in December, according to The Wall Street Journal’s monthly survey of forecasters
- Uncertainty over Brexit is depressing economic growth in Britain, UK Chancellor Philip Hammond said on Friday after official data showed lacklustre year-on-year expansion. However, he is confident the UK will get a Brexit deal.
- Outgoing UK MPC member Ian McCafferty predicts rates below 5% and wages up 4%. The era of low interest rates will last for at least another 20 years, despite gently rising official borrowing costs in the coming years.
- Goldman Sachs sees UK PM Theresa May clinching a Brexit deal on access to European Union markets for goods and getting it approved by the British parliament, though it cautioned that a disorderly exit and national election remained possible.
- If Brexit talks break down without a deal, half of Britons believe the final decision over whether to leave the European Union should be taken by the public in a referendum, according to a survey of more than 10,000 people published on Friday.
- Concerns about oil supplies have eased as major producers have stepped up output, but the respite may be only temporary as tough new US sanctions on Iran approach, the IEA warned on Friday.
- Mexico says 'very close' on NAFTA issues with the US.
- Tesla said to seek wide investor pool for take-private plan with its board planning to meet with financial advisers this week.