NZ budget responsibility rules commit the government to run surpluses across business cycle – And to reduce net debt to 20% of GDP Ardern saying they won’t be relaxed, are “a firm guide as to how we want to manage the economy”
Larry Kudlow is Director of the National Economic Council & Trump’s chief economic advisor – US Mexico deal is a big victory for the economy – US Mexico trade deal can be pushed through Congress Also comments on Chna
Toyota is to invest around $US500 million in Uber, to build self-driving cars for the ride-hailing service – Announced US time earlier – Shares in Toyota have risen in Tokyo trade And the yen down a few tics
Latest info has the Hong Kong Monetary Authority purchasing more HKD in intervention efforts – HKD 2.8bn of local currency bought – HKMA seeking to once again defend the trading band The upper bound is at 7.85 for USD/HKD
Another calendar day void of key data releases Not to forget the brewing US-China trade spat, Italy’s budget woes, Brexit negotiations, Turkey’s currency crisis, Iran sanctions, North Korea still not denuclearising, emerging markets stress, and US midterms to come. Plenty of action all over the place.
This the ANZ / Roy Morgan data point Its been on the slide, not helped by the recent political leadership disruption, which resolved last week (Friday 24 Aug). So, a bit of a bounce since then back now to just under its 4 week moving average around 116.9
Forex and Bitcoin news for Asia trading Tuesday 28 August 2018 It was the US / Mexico ‘deal’ the talk of the FX in America trade and even into Asia. While the ‘deal’ captured the headlines and attention there is much, much work to be done and we are still staring down the tunnel of…
China’s Economic Information Daily with a commentary piece on the front page (Sending a message, eh?) – Yuan to be basically stable – At a reasonable equilibrium level
US President Trump’s comments on China were lost somewhat in the Mexico / Nafta announcements earlier on But on China: The remarks are reported via the but given the coolness evident last week on the China / US trade talks they are not surprising.
Robert Lighthizer is United States Trade Representative Speaking on State TV in the US — The latest trade talks with China (last week) did not seem to produce much progress