- Asian indices are subdued with sentiment weighed on by US President Trump’s plans to place tariffs on Mexican goods at an initial level of 5%
- Chinese Manufacturing PMI moved into contractionary territory and printed below the estimate at 49.4
- China reportedly has plans to limit rare earth sales to the US if necessary, while US VP Pence says Trump and Xi will likely meet at the G20 summit
- Looking ahead, highlights include German Retail Sales...
- Monday: BoJ Minutes, Eurozone Consumer Confidence (Final), New Zealand Trade Balance
- Tuesday: US Consumer Confidence, US Case Shiller, Japan Retail Sales
- Wednesday: FOMC Interest Rate Decision, Australia CPI, US Pending Home Sales, US-China trade talks
- Thursday: US PCE (TBC), US Chicago PMI, China PMIs, Eurozone GDP Flash & Unemployment, Canadian PPI, Japan Labour Report, US-China trade talks
- Friday: EZ (F), UK, US mfg PMIs, US NFP, ISM mfg PMI, Uni. Of Michigan
Monday: UK Market Holiday, German Ifo Survey
Tuesday: US Trade Balance
Wednesday: French GDP, US GDP (2nd Reading), US Pending Home Sales
Thursday: German Labour Market, German CPI (Prelim), US PCE, Canadian GDP (Quarterly)
Friday: Japan Labour Market, Tokyo CPI, China PMI, EZ CPI (Prelim)
The US trade war continues to be...
Monday: German PPI
Tuesday: RBA Minutes
Wednesday: NZ Retail Sales, Canadian Retail Sales, US Existing Home Sales, FOMC Minutes
Thursday: Norway GDP, EZ PMI (Flash), ECB Minutes, Fed’s Jackson Hole Symposium begins, US PMI (Flash), US tariffs on USD 16bln of Chinese goods take effect
Friday: NZ Trade Balance, Japan CPI, German GDP (2nd reading), US Durable...
Monday: North and South Korea to hold “high-level” talks
Tuesday: China Industrial Production, German ZEW Survey, German & EZ GDP, UK Labour Market, Home Depot earnings
Wednesday: UK CPI, US Retail Sales, US Industrial Production, Cisco earnings
Thursday: Australian Labour Market, Norges Bank Rate Decision, UK Retail Sales, US Housing Starts & Building Permits, Walmart...
Monday: German Factory Orders
Tuesday: RBA Rate Decision, German Industrial Production, US JOLTs
Wednesday: China Trade Balance
Thursday: RBNZ Rate Decision, China CPI, US PPI, US and Japan to hold bilateral trade talks
Friday: Japan GDP, Norway CPI, Swedish CPI, UK GDP, US CPI, Canadian Labour Market
Monday: Swedish GDP, German CPI (Prelim), US Pending Home Sales
Tuesday: Japan Labour Market, China PMI, BoJ Decision, German Labour Market, EZ CPI, EZ GDP, US PCE, Canadian GDP, US SOMA Redemptions, Apple Earnings
Wednesday: NZ Labour Market, EZ Manufacturing PMI, UK Manufacturing PMI, US ADP Employment Change, US Quarterly Refunding Announcement, US ISM Manufacturing, FOMC Decision, Brazil Rate...
Monday: US Existing Home Sales
Tuesday: EZ & US Manufacturing & Services PMIs (Flash)
Wednesday: AU CPI, GE IFO Survey, US New Home Sales, EU’s Juncker visits the US
Thursday: ECB Decision, US Durable Goods
Friday: Tokyo CPI, US GDP (Prelim reading)
Monday: Chinese GDP, Trump/Putin Summit, US Retail Sales
Tuesday: NZ CPI, RBA Minutes, UK Labour Market, US Industrial Production, US TIC Flows, Fed Chair Powell’s Semi-Annual Testimony
Wednesday: UK CPI, EZ CPI (Final), US Housing Starts & Building Permits
Thursday: Australian Labour Market, UK Retail Sales
Friday: Japanese CPI, Canadian...
Monday: German Trade Balance
Tuesday: German ZEW Survey, UK Industrial Production, UK GDP (Monthly)
Wednesday: BoC Interest Rate Decision & MPR, US PPI
Thursday: US CPI, German CPI (Final), ECB Minutes
Friday: Chinese Trade Balance, JPM, Wells Fargo and Citi report earnings
- Wall Street gains and CDU/CSU immigration agreement leads EU stocks into the green
- Riksbank leaves rates and rate path unchanged, but opposition from Floden and Ohlssen pushes SEK higher
- Looking ahead, highlights include, US factory orders, APIs and ECB’s Praet
Asian stocks traded mixed as the region failed to take full advantage of the tail wind from the tech-led recovery on Wall St and early bargain hunting following the prior day’s hefty declines. ASX...
At the June meeting the Fed expectedly hiked interest rates by 25bps, however, the median now sees four hikes in 2018 from three previously. The decision was perceived as relatively hawkish as the Fed also dropped their reference that it expected interest rates to be below neutral for “some time”. Nevertheless, markets are still not fully believing the Fed and pricing for four rate hikes this year stands below 50%. Markets will be looking out for comments in...
Sunday: Turkish General Election
Monday: German IFO
Wednesday: BoE Governor Carney speaks, US Durable Goods, Trade Balance
Thursday: RBNZ Rate Decision, German CPI (Prelim), US GDP (Final), EU Summit
Friday: Japan Labour Market, German Labour Market, UK GDP (Final), EZ CPI, US PCE, Canadian GDP (monthly)
- Monday: Nothing major of note
- Tuesday: Brexit votes in the House of Commons, UK Labour Market, US CPI, US-North Korea Summit
- Wednesday: UK CPI, FOMC Rate Decision
- Thursday: Australian Labour Market, ECB Rate Decision
- Friday: EZ CPI (Final), BoJ Rate Decision
On Tuesday, UK Parliament is...
- Monday: US and UK Market Holiday
- Tuesday: Japan Labour Market
- Wednesday: Sweden GDP, German Labour Market, ADP Employment Change, US GDP (2nd reading), BoC Rate Decision
- Thursday: Australian CAPEX, China Official PMIs, Swiss GDP, EZ CPI, EZ Unemployment, US PCE, Canadian GDP
- Friday: China Caixin Manufacturing PMI, EZ Manufacturing PMIs, UK Manufacturing PMI, US NFP, US ISM Manufacturing
- Monday: NZ Retail Sales
- Tuesday: UK/EU Brexit Talks
- Wednesday: Eurozone PMIs (Flash), UK CPI, FOMC Minutes
- Thursday: NZ Trade Balance, German GDP, UK Retail Sales, ECB Minutes, Eurogroup Meeting
- Friday: Tokyo CPI, UK GDP (2nd reading), US Durable Goods, Fed’s Powell & BoE’s Carney speak
FOMC May Meeting Minutes: The Fed kept rates unchanged at 1.50-1.75%,...
- Asian stocks were mostly negative on spill-over selling from the US. Sentiment also soured after North Korea cancelled a high-level inter-Korean meeting
- UK government is to publish its Brexit White Paper next month. Italy’s M5S leader Di Maio said there are still issues to resolve
- Looking ahead, highlights include Eurozone CPI, US industrial production, DoE’s, ECB’s Draghi, Praet and Constancio, Fed’s Bullard and Bostic
- Asian equity markets were subdued with prices relatively range-bound following the modest performance in US. FX markets consolidated throughout most of the Asia-Pac session
- UK PM May admitted that the current options regarding UK customs plan are unworkable. The League and 5SM in Italy need more time to form a government
- Looking ahead, highlights include GE and EZ GDP, UK jobs, German ZEW, US retail sales, Fed’s Williams and Kaplan
- Asian equity markets began the week mostly positive but with trade relatively rangebound. In FX, the greenback was somewhat subdued with the DXY below 92.50
- Italy’s 5-Star Movement and League reportedly reached an agreement on certain measures although still need to reach a deal on who to choose to be PM and cabinet members
- Looking ahead, highlights include the OPEC Monthly Report, Fed’s Mester, Bullard, BoE’s Carney, ECB’s Praet, Lautenschlaeger, and...
Monday: BoJ Minutes
Tuesday: China Trade Balance, Fed’s Powell scheduled to speak
Wednesday: US PPI
Thursday: BoE Rate Decision & QIR, RBNZ Rate Decision (Wednesday evening UK time), China CPI, US CPI
Friday: Canadian Labour Market data
Data releases are thin from North America in the week, with inflation in focus in the US and labour market data from Canada. Headline US CPI is expected to increase...
09 Feb 2018, 15:33 by Samuel Indyk
Tuesday: UK Inflation (Jan)
Wednesday: Japanese GDP (Q4), US CPI (Jan)
Thursday: Riksbank MonPol Decision, Australian Labour Market Report (Jan)
The US docket centres on Wednesday’s releases. January’s headline CPI is...
Week In Focus: BoE, RBA & RBNZ All Convene, With Brexit Negotiations & Chinese Trade Providing Risk Elsewhere
02 Feb 2018, 17:54 by Samuel Indyk
Monday: Brexit Negotiations Round Begins
Tuesday: RBA Monetary Policy Decision, UK Services PMI (Jan)
Wednesday: New Zealand Labour Market Report (Q4)
Thursday: BoE Monetary Policy Decision & QIR, RBNZ Monetary Policy Decision, Chinese Trade Balance (Jan)
Friday: Canadian Labour Market Report (Jan), RBA Statement on Monetary...
26 Jan 2018, 17:48 by Samuel Indyk
Tuesday: Eurozone GDP (Q4, P)
Wednesday: FOMC MonPol Decision, Canadian GDP (Nov), Eurozone CPI (Jan, P), Australian CPI (Q4)
Friday: US Labour Market Report (Jan)
Monday will bring the release of the US PCE price index, alongside the...
Week In Focus: Hawks vs. Doves? The BoJ & The ECB Issue Their Latest Decisions, Will We Get Any Clarity From Either Bank?
19 Jan 2018, 18:37 by Samuel Indyk
Tuesday: Bank of Japan MonPol Decision
Thursday: ECB MonPol Decision, UK Labour Market Report (Nov/Dec), New Zealand CPI (Q4), Norges Bank MonPol Decision
Friday: US GDP (Q4, A), UK GDP (Q4, A)
Focus in the early part of the week is set to...
Week In Focus: Bank of Canada, Will They Or Won’t They? Just How Strong Was Chinese GDP Growth In 2017?
12 Jan 2018, 18:27 by Samuel Indyk
Wednesday: BoC MonPol Decision
Thursday: Chinese GDP (Q4), UK Inflation Data (Dec), Australian Labour Market Report
The US will observe Martin Luther King Day on Monday, which will lead to lower liquidity conditions at the...