Payment firm Visa inflation-adjusted spending (on its credit and debit cards) – +0.7% y/y In June – follows +0.9% y/y in May Visa reported spending in shops and retail establishments grew more quickly than online for a second month in a row, the first time that has happened since 2012
Temporary ant-dumping measures on some rubber products from Japan and South Korea Measures take effect today! ForexLive
A heads up for what is on the agenda from Australia this week. I’ll get previews posted on approach. – Monday – nothing of note from OZ, but there is China data, of course:
China’s Premier Li speaking as part of the meeting with the EU, President Donald Tusk attending Comments from Li: ForexLive
June month economic activity data Retail Sales 9.0% y/y – expected 8.8%, prior 8.5% Retail Sales YTD 9.4% y/y – expected 9.4%, prior 9.5% Industrial Production 6.0% y/y – a bad miss this one
Some housing prices data from the UK, these for July -0.1 % m/m – prior +0.4% m/m +1.4 % y/y – +1.7% prior Rightmove: – says a ‘glut’ or property came onto market in July Not a forex mover.
April to June economic growth in China is (whatever China says it is, right?) 6.7% y/y – in line with estimates – expected 6.7%, prior 6.8% – expected 1.6%, prior 1.4% 6.8 % YTD y/y
Donald Tusk is President of the European Council Speaking today in Beijing: – Common duty of Europe, China, America and Russia to not begin trade wars – Calls on China, Prezzies Trump and Putin to reform the WTO
Goldman Sachs expected to formally name David Solomon new CEO – Successor to CEO Lloyd Blankfein I wonder if Solomon gives up his side DJ gig? ForexLive
Since US President Trump has begun threatening China in the trade war, and implementing his first round of tariffs along with other barriers to trade, China has dropped its tariffs on automobiles from 25% to 15%.