Canada existing home sales for July 2018 Pricing data – Canada benchmark July price +2.1% y/y – Vancouver benchmark +6.7% y/y – Toronto benchmark -0.6% y/y I spoke about the Canadian housing market and Canadian dollar on BNN recently.
Costs drop in latest productivity data ForexLive
July 2018 US advance retail sales highlights – Ex autos ++0.6% vs +0.3% exp – Prior ex autos +0.4% (revised to +0.2%) – Ex autos and gas +0.6% vs +0.4% exp The control group is the spot to watch here and it match forecasts after you account for the downward revision to the June number.
Still a solid 4.3% It’s still early for Q3 growth estimates but so far it’s looking good. The estimate remained at 4.3% after today’s data. “The nowcast of third-quarter real personal consumption expenditures growth increased from 2.9 percent to 3.1 percent. This increase was offset by a decline in the nowcast of third-quarter real nonresidential…
Empire manufacturing index for the month of August 2018 The empire manufacturing index for the month of August came in better than expected at 25.6 vs 20.0 expected. Forty-two percent of respondents reported that conditions had improved over the month, while 16 percent reported that conditions had worsened.
Tariffs and economic war/fears send shares lower Although the Turkish lira rebounded again today, that did not slow a move to lower in European equity price as trade and economic wars and contagion from them, weigh on the markets.
It’s notable, but it’s not a big number Bloomberg reports that senior Barclays credit trader Tolga Kirbay was caught on the wrong side of a bet on Turkish bonds over the past few days and lost about $19 million.
Lira keeps battling back Qatar pledged $15 billion in direct investment into Turkey in a confidence-raising measure that also plays on the delicate balance of power in the region.
Major economic data coming up on the agenda A trio of US economic data points are due at the bottom of the hour. Leading the way is the July advance retail sales report.
The gold rush is over If you were to ask people where they want to live, the list is likely to look something like this: – Safe – Peaceful – Prosperous – Clean land, air and water New Zealand ticks those boxes almost better than anywhere in the world but the gold rush might be over because New…