Friday, 3 August 2018

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

Asia:
23:00pm  - NZ ANZ Jobs Advertised (3.1%)
23:30pm  - Aussie AiG Perf of Servs Index (53.6)
00:00am  - Aussie CBA PMI Composite (52.3)
01:30am  - Japan Nikkei Servs & Comp PMI
01:30am  - Singapore Nikkei Servs & Comp PMI
01:30am  - HK Nikkei Servs & Comp PMI
02:30am  - Aussie Retail Sales
02:45am  - China Caxin Servs & Comp PMI
03:00am  - Sri Lanka Rate Decision
06:00am  - India Nikkei Servs & Comp PMI
Europe:
08:15am  - Spanish Servs & Comp PMI
08:15am  - Swiss CPI
08:45am  - Italy Servs & Comp PMI
08:50am  - French Servs & Comp PMI
08:55am  - German Servs & Comp PMI
09:00am  - Italian Industrial Prod.
09:00am  - Eurozone Servs & Comp PMI
09:30am  - UK Servs & Comp PMI
10:00am  - Eurozone Retail Sales
US:
13:30pm  - US Non-Farm Payrolls
13:30pm  - US Trade Balance
14:45pm  - US Markit Servs & Comp PMI
15:00pm  - US ISM Non-Manf Composite
Market Focus this Morning...
- BoJ Minutes saw financial conditions highly accomodative, momentum towards 2% inflation was being maintained, with most members viewing BoJ would continue with QQE with Yield Curve Control and would carefully assess effects of low rates on banks.
- Bank of Nova Scotia sees an increased rate of rate hikes from the Bank of Canada due to an improved outlook, with one in Sep and one in Dec this year
- PBoC may continue with targeted RRR reductions during H2, according to China Securities Journal
- BoE raised rates 0.25% to 0.75%, unanimous decision, with policy makers agreeing more rate hikes will be needed.
- BoE's Carney sees wage growth of 2-3% range consistent with inflation target, and equilibrium rates below 2-3% because of shorter-term factors. Tentative signs protectionism is affecting global growth but economy is recovering from Q1 weakness, and Brexit will have an impact on BoE monetary policy.
- Bipartisan group of US senators introduce Russia sanctions package.
- US Commerce Secretary Ross said possible tariffs on Chinese imports would 'not be cataclysmic'
- China's Foreign Ministry urged the US to correct their attitude, saying any wilful act by the US will backfire.
- Mexico's Central Bank kept rates unchanged at 7.75%, as expected.

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