What exactly was agreed is stilly a mystery There was talk that Mexico accepted quotas, specifically a ceiling on the number of cars it could export to the rest of North America.
Abe wants 3 years Japanese PM Abe vows to overhaul the social security system in three years, Nikkei reports. Tinkering with the social safety net anywhere is a politically dangerous game. Good luck to him.
USD/JPY lower, and accompanied by lower currencies against the USD AUD and NZD are now in the ‘usual suspects’ basket and they have each lost some ground too. CAD is lower too.
The UK Times reporting on Hammond ‘may’ reveal the budget as early as next month Early budget to sidestep clash with Brexit talks (Times is gated) …’ Well, yeah. D’uh.
A jump for the week on this indicator Not an AUD mover ForexLive
British Retail Consortium August survey Reuters add more detail: total spending +1.3 % y/y a broader measure of consumer spending by Barclaycard+ 4.5 percent in August
A preview of today’s GDT (GlobalDairyTrade) auction later The most recent auction saw a price fall, not helpful for the embattled as it is kiwi $ The estimates I have seen are for a small fall in the price of WMP (milk powder) at the event today.
China has blocked the website of Australia’s government funded broadcaster ABC – China’s internet regulator has censored its apps and website in the country CNN has the report here
A note (fixed interest focus) from SG, the headline quote is referring to the eurozone economy but I reckon its a decent one-liner for the euro also Says Société Générale (in summary):
Data due from Australia today include net exports as a percentage of GDP, for the second qurter of 2018 This is a number that will feed into the GDP – Q2 GDP is due tomorrow, hence the focus Expectations for the exports contribution to GDP is low, says NAB: