An early heads up for what is coming up on the last day of the week here in Asia (note these GMT times refer to Thursday 28 June 2018) Tokyo data is watched as a guide to the National data
OK, yeah, not the most interesting issue what with US / China tensions and what have you But, keeping track: – Data is here: now with a bit of a recap:
On guard from some headlines as the summit kicks off Thursday 28 June 2018, and continues on Friday Immigration issues will likely dominate today, and while not directly relevant to FX and financial markets they are of note in terms of political stability (or not). Merkel has been having some disagreements with her coalition partner,…
Mmmm yeah, I bet they are! – China’s Commerce ministry says will carefully monitor US policies on inbound investments – Says does not support using national security grounds to restrict investments
ING look at Eurozone / US economic growth differential as a euro driver Most of the dynamics for EUR/USD over the past 12 months can be captured by the simplicity of relative Eurozone versus US economic growth outlooks
The upper house in Australia’s parliament will not be voting on the business tax cuts until they come back after their winter break Which effectively delays any corporate tax cuts
Japan retail sales data for may has come in at +0.6% y/y – expected 1.6%, prior 1.5% And -1.7% m/m – expected -0.8%, prior -0.4% As you can see, little impact on the yen. But, Japanese data ….. more often than not there is little immediate impact.
I’m posting this more from the geo-political angle than the civil engineering angle, K? 😀 Yonhap (South Korean media): Yesterday was this: So, I guess its not all good just yet. Still, some progress at least.
A snippet from Barclays survey of Japanese bond investors on the currency:
The first look at durable goods orders for April 2018 – was -1.6% – Ex transportation -0.3% vs +0.5% expected – Prior ex transportation +0.9% – Prior cap goods orders nondefense ex air +1.0% This report is a tricky one to read. Core orders look weak at first blush but there is a huge upward revision…