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MNI BRIEF: Daly Says Could Be More Work To Do On Fed Goals

FED'S DALY SAYS TOO EARLY TO DECLARE VICTORY ON GOALS

CANADA AUG JOBS +39.9K VS FORECAST +17.5K, PRIOR -6.4K

MNI DATA TABLE: China CPI Sub-indexes by Category (Aug 2023)

CHINA AUG FOOD PRICES -1.7% Y/Y VS -1.7% Y/Y JUL

MNI BRIEF: Highlights From BOC Governor Macklem Speech

MNI BRIEF: Finance Minister Calls BOC Pause 'Welcome Relief'

MNI BRIEF: China Will Look To Belt & Road Amid Trade Tensions

Global Data Calendar 

--Rating: *** most market sensitive, * least market sensitive
Date   GMT /Local                                             Prior  Est.
-------------------------------------------------------------------------------
07-Jan     -     *** Dec    CN FX Reserves                    10.06    -- b USD
07-Jan     -     *** Dec    CN FX Reserves ytd                3.119    -- t USD
08-Jan 2230/0930 **  Dec    AU AI Grp/HIA construction index   57.5    --
08-Jan 0700/0800 **  Nov    DE manufacturing orders m/m         0.5    --   %
08-Jan 0700/0800 **  Nov    DE manufacturing orders  y/y wda    6.9    --   %
08-Jan 0815/0915 *** Dec    CH CPI m/m                         -0.1    --   %
08-Jan 0815/0915 *** Dec    CH CPI y/y                          0.8    --   %
08-Jan 0830/0830 *   Dec    UK Halifax house prices 3m y/y      3.9    --   %
08-Jan 1000/1100 **  Jan    EU Economic Sentiment Indicator   114.6    --
08-Jan 1000/1100 **  Nov    EU retail sales m/m                -1.1    --   %
08-Jan 1000/1100 **  Nov    EU retail sales y/y wda             0.4    --   %
08-Jan 1000/1100 *   Jan    EU Consumer Confidence              0.1    --
08-Jan 1000/1100 *   Jan    EU Industrial Sentiment             8.2    --
08-Jan 1000/1100 *   Jan    EU Business Climate Indicator      1.49    --
08-Jan 1500/1000 *   Dec    US ETI                            135.88   --
08-Jan 1600/1100 **  Jan    US NY Fed expectations survey        --    --
08-Jan 2000/1500 *   Nov    US consumer credit                 20.5  18.3 b USD
08-Jan 2000/1500 *   Dec    US Treasury Allotments (final)       --    -- b USD
09-Jan 0000/0900 **  Nov    JP Total wages y/y                 +0.2    --   %
09-Jan 0000/0900 **  Nov    JP Base wages y/y                  +0.3    --   %
09-Jan 0000/0900 **  Nov    JP Real wages y/y                  -0.1    --   %
09-Jan 0001/0001 *   Dec    UK BRC like for like sales y/y       --    --   %
09-Jan 0001/0001 *   Dec    UK BRC total sales y/y               --    --   %
09-Jan 0030/1130 *** Dec    AU Dwelling approvals m/m          +0.9    --   %
09-Jan 0101/0101 **  Dec    UK Markit/REC  permanent places      --    --
09-Jan 0645/0745 **  Dec    CH unemployment rate                3.0    --   %
09-Jan 0645/0745 **  Dec    CH unemployment m/m                 1.9    --   %
09-Jan 0645/0745 **  Dec    CH unemployment y/y                -8.0    --   %
09-Jan 0700/0800 **  Nov    DE industrial production m/m       -1.4    --   %
09-Jan 0700/0800 **  Nov    DE industrial production wda y/y    2.7    --   %
09-Jan 0700/0800 **  Nov    DE trade balance m/m               19.9    -- b E
09-Jan 0700/0800 **  Nov    DE trade balance exports m/m       -0.4    --   %
09-Jan 0700/0800 **  Nov    DE trade balance imports m/m        1.8    --   %
09-Jan 0745/0845 *   Nov    FR current account                 -2.2    -- b E
09-Jan 0745/0845 *   Nov    FR foreign trade                     -5    -- b E
09-Jan 0815/0915 **  Nov    CH retail sales m/m                -1.5    --   %
09-Jan 0815/0915 **  Nov    CH retail sales wda y/y            -3.0    --   %
09-Jan 1000/1100 **  Dec    EU unemployment m/m                 8.8    --   %
09-Jan 1100/0600 **  Dec    US NFIB Small Business Index      107.5    --
09-Jan 1315/0815 **  Dec    CA CMHC housing starts            252.2    -- k 
09-Jan 1355/0855 **  06-Jan US Redbook retail sales m/m         0.3    --   %
09-Jan 1500/1000 **  Jan    US IBD/TIPP Optimism Index         51.9    --
09-Jan 1500/1000 **  Nov    US JOLTS job openings level        5996    -- k 
09-Jan 1500/1000 **  Nov    US JOLTS quits rate                 2.2    --   %
10-Jan     -     *** Dec    CN M2 ytd y/y (date tba)            9.1   9.0   %
10-Jan     -     *** Dec    CN new loans (date tba)            1.12  0.99 t CNY
10-Jan     -     *** Dec    CN social financing (date tba)     1.60  1.50 t CNY
10-Jan 0030/1130 *   Qtrly  AU Job vacancies q/q               +6.0    --   %
10-Jan 0130/0930 *** Dec    CN CPI y/y                          1.7   1.9   %
10-Jan 0130/0930 *** Dec    CN PPI y/y                          5.8   4.8   %
10-Jan 0745/0845 *   Nov    FR industrial production m/m        1.9    --   %
10-Jan 0745/0845 *   Nov    FR industrial production y/y        5.5    --   %
10-Jan 0900/1000 *   Dec    DE VDMA machine orders y/y          9.0    --   %
10-Jan 0930/0930 **  Nov    UK construction output m/m           --    --   %
10-Jan 0930/0930 **  Nov    UK construction output y/y           --    --   %
10-Jan 1200/0700 **  05-Jan US MBA Mortgage Applications       -2.8    --   %
10-Jan 1300/1300     Jan    UK NIESR GDP 3m/3m                  0.5    --   %
10-Jan 1330/0830 *   Nov    CA Building permits                +3.5    --   %
10-Jan 1330/0830 **  Dec    US imports price index              0.5   0.3   %
10-Jan 1330/0830 **  Dec    US exports price index              0.7    --   %
10-Jan 1500/1000 **  Nov    US wholesale inventories           -0.5    --   %
10-Jan 1500/1000 **  Nov    US wholesale sales                  0.7    --   %
10-Jan 1500/1000 **  Jan    US Atlanta Fed inflation            2.1    --   %
10-Jan 1530/1030 **  05-Jan US crude oil stocks ex. SPR w/w   -7.42    -- m bbl
10-Jan 1600/1100 **  Dec    US Kansas City Fed LMCI              --    --
11-Jan     -     *** Dec    CN M2 ytd y/y (date tba)            9.1   9.0   %
11-Jan     -     *** Dec    CN new loans (date tba)            1.12  0.99 t CNY
11-Jan     -     *** Dec    CN social financing (date tba)     1.60  1.50 t CNY
11-Jan 0030/1130 *** Nov    AU Retail trade m/m                +0.5    --   %
11-Jan 0730/0830 **  Dec    FR BOF Manufacturing Sentiment    106.0    --
                                 Index
11-Jan 0730/0830 **  Dec    FR BOF Services Sentiment Index   102.0    --
11-Jan 0800/0900 **  Nov    ES industrial production y/y        4.2    --   %
11-Jan 0900/1000 *   Nov    IT retail sales m/m                -1.0    --   %
11-Jan 0900/1000 *   Nov    IT retail sales y/y nsa            -2.1    --   %
11-Jan 1000/1100 **  Nov    EU industrial production m/m        0.2    --   %
11-Jan 1000/1100 **  Nov    EU industrial production y/y wda    3.7    --   %
11-Jan 1330/0830 *   Nov    CA New Housing Price Index y/y     +3.5    --   %
11-Jan 1330/0830 **  06-Jan US jobless claims                   250   247 k 
11-Jan 1330/0830 *** Dec    US Final Demand PPI                 0.4   0.2   %
11-Jan 1330/0830 *** Dec    US PPI ex. food and energy          0.3   0.2   %
11-Jan 1330/0830 *** Dec    US PPI ex. food, energy, trade      0.4    --   %
11-Jan 1445/0945 *   07-Jan US Bloomberg comfort index           --    --
11-Jan 1530/1030 **  05-Jan US natural gas stocks w/w          -206    --   Bcf
11-Jan 1900/1400 **  Dec    US Treasury budget balance        -138.5-54.0 b USD
11-Jan 2130/1630 **  10-Jan US Fed weekly securities holdings    --    -- t USD
12-Jan     -     *** Dec    CN M2 ytd y/y (date tba)            9.1   9.0   %
12-Jan     -     *** Dec    CN new loans (date tba)            1.12  0.99 t CNY
12-Jan     -     *** Dec    CN social financing (date tba)     1.60  1.50 t CNY
12-Jan     -     *** Dec    CN exports y/y                     12.3  10.0   %
12-Jan     -     *** Dec    CN trade balance                  40.21  38.0 b USD
12-Jan     -     *** Dec    CN imports y/y                     17.7  15.0   %
12-Jan 2145/1045 *   Nov    NZ Building consents m/m             --    --   %
12-Jan 0745/0845 *** Dec    FR HICP (f) m/m                     0.4    --   %
12-Jan 0745/0845 *** Dec    FR HICP (f) y/y                     1.3    --   %
12-Jan 0800/0900 *** Dec    ES HICP (f) m/m                     0.1    --   %
12-Jan 0800/0900 *** Dec    ES HICP (f) y/y                     1.3    --   %
12-Jan 0900/1000 *   Nov    IT industrial production m/m        0.5    --   %
12-Jan 0900/1000 *   Nov    IT industrial production y/y wda    3.1    --   %
12-Jan 1330/0830 *** Dec    US CPI                              0.4   0.1   %
12-Jan 1330/0830 *** Dec    US CPI Ex Food and Energy           0.1   0.2   %
12-Jan 1330/0830 *** Dec    US retail sales                     0.8   0.5   %
12-Jan 1330/0830 *** Dec    US retail sales ex. motor vehicle   1.0   0.4   %
12-Jan 1330/0830 *** Dec    US retail sales ex. mtr veh, gas    0.8    --   %
12-Jan 1500/1000 *   Nov    US business inventories            -0.1   0.3   %
12-Jan 1600/1100 **  Q1     US St. Louis Fed Real GDP Nowcast    --    --   %
12-Jan 1615/1115 **  Q1     US NY Fed GDP Nowcast               4.0    --   %
--MNI Washington Bureau; +1 202-371-2121; email: holly.stokes@marketnews.com
[TOPICS: MTABLE]
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