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Thursday, 03 Sep 2015
06:30
Source: INSEE National Statistics Office
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Thursday, 03 Sep 2015
06:30
Source: INSEE National Statistics Office
Print
Thursday, 03 Sep 2015
06:30
Source: INSEE National Statistics Office
Print
Thursday, 03 Sep 2015
06:30
  • With China away from market, Asian equities rebounded from recent losses with the Nikkei 225 (+1.2%) outperforming

 

  • AUD saw further losses overnight as the Australian latest retail sales data disappointed, leading AUD/USD to break below 0.7000

 

  • Looking ahead, highlights include Eurozone and UK Services PMI, ECB Rate Decision, US Jobless Claims, US Trade Balance and US ISM Non-Manufacturing Composite

ASIA

Asian stock markets traded mostly higher amid a rebound in the recent global stock market rout, with Chinese markets closed for Victory Day . Nikkei 225 (+1.2%) outperformed as risk on sentiment saw all sectors trade in the green. ASX 200 (-0.6%) bucked the trend after Myer (-16.81%) fell the most on record following reports of a share sale, while a miss on Australian retail sales also weighed on sentiment. 10yr JGBs traded lower as strength in Japanese equities dampened demand for safer assets, while a well-received enhanced liquidity auction failed to spark demand.

EUROPE/UK

Greek net bank deposits withdrawals have reduced to approximately EUR 300mln in August compared to EUR 1.4bln in July, according to sources. (BBG)

FX

In FX markets, AUD/USD was once again pressured on discouraging data and broke below 0.7000 after Australian retail sales (-0.1% vs. Exp. 0.4%) printed its 1st decline in 3 months. JPY weakened on an improvement in risk sentiment with USD/JPY shrugging off comments from BoJ dissenter Kiuchi which highlighted concerns over the ramifications of QQE.

COMMODITIES

WTI crude futures traded mildly lower overnight as the USD-index remained near yesterday’s highs, while gold (-0.05%) traded relatively flat in a lightly traded session, as Chinese investors were away from the market due to Victory Day public holiday.

US

Fed's Beige Book for September stated that economic activity in the US is still expanding from July to the middle of August. Further stating that a majority of districts witnessed modest to moderate growth in both labour demand and employment.

US Treasuries, were initially weighed on following the release of the ADP Employment Change (190K vs. Exp. 200K) as the figure was not considered low enough by participants to alter the Fed’s rate path. Despite a minor rally mid-session on large fluctuations in crude oil prices, T-notes finished at 127.05, down 4+ ticks at the pit close as equities closed out the day in firm positive territory. Overnight USTs traded modestly higher by 4 ticks at 127.09. 

Calstrs which is the 2nd largest fund in the US is mulling moving away from some stocks and bonds into USTs, hedge funds and other investments. (WSJ)

Source: RANsquawk
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Thursday, 03 Sep 2015
06:25

Asian stock markets traded mostly higher amid a rebound in the recent global stock market rout, with Chinese markets closed for Victory Day. Nikkei 225 (+1.2%) outperformed as risk on sentiment saw all sectors trade in the green. ASX 200 (-0.6%) bucked the trend after Myer (-16.81%) fell the most on record following reports of a share sale, while a miss on Australian retail sales also weighed on sentiment. 

Source: RANsquawk
Print
Thursday, 03 Sep 2015
06:22

EUR/USD
- 1.1100 (875mln)

USD/CAD
- 1.3115 (440mln), 1.3150 (676mln), 1.3190 (640mln), 1.3450 (1.1bln)

USD/JPY
- 120.45 (305mln), 121.00 (310mln), 121.75 (765mln), 122.50 (550mln)

EUR/JPY
- 135.00 (250mln)

Source: RANsquawk/IFR
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Thursday, 03 Sep 2015
06:18
Thursday, 03 Sep 2015
06:15

Says:

- BoJ has tools available to it other than expanding QQE to respond to economic shocks such as temporary liquidity funding.

Analysis details: 06:20

- As a guide, These comments are inline with Kiuchi's known hawkish stance he is a regular and only dissenter at the BoJ meetings.

Source: RTRS
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Thursday, 03 Sep 2015
06:08
Source: BBG
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Thursday, 03 Sep 2015
06:01
Source: BBG
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Thursday, 03 Sep 2015
06:00
Thursday, 03 Sep 2015
06:00
Reaction details: 06:02

- No reaction in USD/INR, trades 66.2350.

Source: Markit
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Thursday, 03 Sep 2015
06:00
Reaction details: 06:01

- No reaction in EUR/USD, trades 1.1219.

Source: Markit
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Thursday, 03 Sep 2015
06:00
Thursday, 03 Sep 2015
05:56
Source: SMH
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Thursday, 03 Sep 2015
05:52

Daily Economic Releases is a comprehensive one stop-shop for key economic data, central bank speakers, government bond auctions, expiries and holidays for the G7 and beyond. If you would like to upgrade your account to receive access to this report please contact us at admin@ransquawk.com

Source: RANsquawk
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Thursday, 03 Sep 2015
05:46
Analysis details: 05:49

- Twitter sources suggest that the smoke is due to a fire caused by faulty electrical wiring. 

Source: BBG
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Thursday, 03 Sep 2015
05:24
Thursday, 03 Sep 2015
04:45

- Highest accepted spread 0.003% vs. Prev. 0.026%

- Accepted at highest spread 67.7376%.

- Average accepted spread 0.001% vs. Prev. 0.013%

Analysis details: 04:50

- The auction was well received with a larger b/c than prior.

Reaction details: 04:50

- In an immediate reaction 10yr JGBs rose 3 ticks to 147.94 from 147.91, trades 147.92 (-5 ticks) last.

Source: BBG
Print
Thursday, 03 Sep 2015
04:40
Source: BBG
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Thursday, 03 Sep 2015
04:36

Thailand Consumer Confidence Economic (Aug) M/M 61.5 (Prev. 62.6) 

Reaction details: 04:36

- No immediate reaction seen in USD/THB, trades 35.850.

Source: BBG
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Thursday, 03 Sep 2015
04:24
Analysis details: 04:25

- As a guide, the official Chinese 2015 GDP growth forecast is around 7.0%.

Source: ForexLive
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Thursday, 03 Sep 2015
04:19
Thursday, 03 Sep 2015
04:07
Analysis details: 04:13

- Co. shares are currently altered for pre-notice and will resume trading 0419BST. 

Source: BBG
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Thursday, 03 Sep 2015
04:06
Source: BBG
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