Busy Data Session

Narrow ranges once again being observed so far in Asia, data released so far has failed to catalyse any significant moves though a number of releases remain on the docket.

• In Australia data just released from ANZ Roy Morgan showed weekly consumer confidence rose slightly to 101.8 from 101.6. Looking ahead to the rest of today's session, the release of the latest round of Q2 GDP partials, in the form of net exports and BoP current a/c data, will be bolstered by building approvals and private sector credit data.
• In New Zealand July home building approvals rose 2.1% M/M. Focus remains on the domestic COVID-19 situation, as a reminder PM Ardern announced Monday that Auckland will remain at alert level 4 at least for another two weeks, while areas south of New Zealand's largest city will move to level 3 at midnight today.
• In Japan the July jobless rate fell to 2.8% from 2.9%, industrial production fell less than expected at -1.5% compared to consensus -2.5%. Elsewhere Japanese media suggested that PM Suga considers a plan to hold the general election on Oct 17, without dissolving the House of Representatives.
• Looking ahead China will release the official PMI survey for August, while the aforementioned Australian data is also due during the Asia-Pac session. In the European session participants can look forward to a busy docket including French CPI, PPI and GDP.