FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Japan GDP Beats Estimates

FOREX

The greenback is slightly higher in early trade after finishing the day with losses on Friday, there were some comments from Fed's Kashkari earlier, the known dove said wants 'few more' strong job reports before taper. The fall of Afghanistan to insurgents doesn't appear to be negatively impacting risk sentiment so far.

  • AUD/USD is down 4 pips. There is a distinct lack of local calendar risk on Monday, which will leave the local COVID situation (with another record number of daily cases outlined in Sydney on Saturday, resulting in tighter restrictions/monitoring).
  • NZD/USD is down 4 pips, data earlier showed New Zealand July performance of services index at 57.9 from 58.4. Elsewhere, the RBNZ shadow board called for tightening at the August meeting.
  • USD/JPY is down 7 pips. Data showed Q2 GDP rose 0.1% compared to forecasts of a 0.3% decline. The local press suggest that the Japanese government will start to consider the expansion of its state of emergency at some point this week.
  • Offshore yuan is slightly weaker, markets await the monthly economic indicator data dump later in the session. Elsewhere there were reports in state media that the PBOC could boost liquidity injections via OMOs this week.
  • Looking ahead highlights on Monday will be the monthly Chinese economic activity indicators while further afield the RBNZ will hold the August meeting this week.
Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.