This is the Australian Industry Group (AiG) Performance of Services Index for July Or, lack of performance is probably a better name for it this month.
Forex and Bitcoin news for Asia trading Friday 3 August 2018 Currency ranges were disappointing in Asia apart from the yuan which did the rock thing (drop like a). The People’s Bank of China set a lower reference rate for the onshore yuan against the USD, taking it back again to May 2017 lows. Offshore…
The focus will be on how the labor market is progressing on Friday morning US time (Will anyone focus on how to spell labour correctly though? 😉 ) Previews:
Retail sales from Australia for June and the quarter came in better than estimates: A few responses coming in now: Westpac via Reuters ForexLive
Prior revised to -1.3% from -1.6% +4.7% y/y (this a 3 month MA basis) from +3.0% in the previous month ANZ comments: – unusually high healthcare ads – labour market resilient On the ‘clouds’, ANZ pointing to activity expectations declining, along with intentions to hire
China’s State Council is a very big deal. Chaired by the Premier, its the cabinet basically. On par with the Communist Party and the PLA Anyway, a statement issued by the Council’s Financial Stability and Development Commission
Hard Brexit Cable continues to slide. Some thoughts: – With rate hikes all but priced into GBP, the growing possibility of a hard-Brexit is a huge factor in the weakness that we’re seeing in cable and the like, heading into the decision.
SPX thoughts We’ve now got a little lull before the BoE. Cable is bouncing off and playing out nicely, so let’s briefly turn our focus elsewhere. the intraday level
More Euro positivity – Eurozone PPI m/m: 0.4% v 0.3 expected – Eurozone PPI y/y: 3.6% v 3.5% expected But looks like EUR/USD certainly doesn’t care: Higher time frame:
GBP sensitive lead up Reaction – For a decent beat, the reaction on cable is really muted. – With price dropping , I thought we might get more of a bounce. Still upcoming: