Australia Balance of Payments Current Account for Q1: AUD -10.5bn – expected AUD -9.9bn, prior AUD -14.7bn, revised from -14.0bn Net exports 0.3% (as a % of GDP)
Notable option expiry for the 10am NY time cut today EUR/USD – 1.1675 EUR amount 688m – 1.1700 775m – 1.1725 1.1bn – 1.1750 2.0bn USD/JPY – 108.90 USD 450m GBP/USD
We have had a couple of Japanese data items already today: – (shrank for the 3rd consecutive month running in April) Neither of these argue for a strengthening yen.
Key points highlighted by Markit: – Backlogs of work fall amid new order growth slowdown – Firms continue to expand workforce numbers – Output price inflation eases, despite quicker rise in costs Joe Hayes, Economist at IHS Markit, which compiles the survey:
Barclaycard (the credit and debit card division of Barclays): data – Its measure of consumer spending +5.1 y/y in May – Biggest increase in 13 months – Barclaycard said +4.6% for non-essential spending growth was the strongest in 14 months Citing
ArticleBody British Retail Consortium (BRC) data for May 2018, Like for like sales +2.8% y/y – prior -4.2% Total retail sales values jumped+4.1y/y – vs. -3.1% in April Reuters with more:
What moved markets Monday Monday was a nice day for the Australian and New Zealand dollars, with the commodity currencies outperforming on the back of ongoing demand for risk assets, despite a strong US jobs report that had many US dollar favorable components and despite this latest global trade war scare.
UK government to sell part of its RBS stake There aren’t any real explanations for the drop in cable in the past hour. This RBS headline and the comments from May aren’t a great reason to be selling. It looks like flows in the context of a bounce in the US dollar.
Spain and Portugal lead the way The European major stock indices – with the exception of the Italian FTSE MIB – are ending with gains today: – German Dax rose 0.44% In the 10 year notes, yields changes are ending mixed:
Comments from a spokesman for Theresa May – Underlined the need to recognize open and fair trade across the world and to safeguard jobs – PM and President had constructive conversation