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GBPUSD TECHS

Bearish Threat Still Present

EURUSD TECHS

Gains Considered Corrective

EQUITIES

Mixed

ASIA RATES

China Adds Liquidity First Time Since March

EUROSTOXX50 TECHS

(U1) Monitoring The Bearish Engulfing Candle

US: Recap of Economic Indicators

                             Jul-18   Jun-18   May-18   Apr-18   Mar-18   Feb-18
--------------------------------------------------------------------------------
UI Claims/4wk avg
wk 1                        215/223  222/226  211/216  233/230  230/225  223/228
wk 2                        208/221  221/225  223/214  233/232  226/223  234/230
wk 3                        217/218  218/221  234/220  209/229  227/225  218/227
wk 4                                 228/222  223/223  211/222  218/225  217/223
wk 5                                 232/225                    242/228
Nonfarm Payrolls                       +213k    +244k    +175k    +155k    +324k
Private Payrolls                       +202k    +239k    +174k    +153k    +321k
Mfg Payroll                             +36k     +19k     +28k     +21k     +31k
Unemployment                            4.0%     3.8%     3.9%     4.1%     4.1%
Avg Wkly Hours                          34.5     34.5     34.5     34.5     34.5
Avg Hours - Mfg                         40.9     40.8     41.0     40.9     41.0
Aggr Hours Index                       +0.2%    +0.2%    +0.1%    +0.2%    +0.6%
Aggr Hrs Index - Mfg                   +0.4%    -0.3%    +0.5%    -0.1%    +1.0%
Avg Hourly Earnings                    +0.2%    +0.3%    +0.2%    +0.2%    +0.1%
Final Demand PPI                       +0.3%    +0.5%    +0.1%    +0.3%    +0.2%
excl food & energy                     +0.3%    +0.3%    +0.2%    +0.3%    +0.2%
excl food, energy, trade               +0.3%    +0.1%    +0.1%    +0.4%    +0.4%
CPI                                    +0.1%    +0.2%    +0.2%    -0.1%    +0.2%
excl food & energy                     +0.2%    +0.2%    +0.1%    +0.2%    +0.2%
Import Prices                          -0.4%    +0.6%    +0.6%    -0.2%    +0.2%
non-petro import prices                -0.3%    +0.1%    +0.1%     Flat    +0.4%
ISM Mfg Prices Pd Index        73.2     76.8     79.5     79.3     78.1     74.2
PCE Price Index M/M                    +0.1%    +0.2%    +0.2%    +0.1%    +0.1%
PCE Price Index Y/Y                    +2.2%    +2.2%    +2.0%    +2.1%    +1.9%
Core PCE Price Index M/M               +0.1%    +0.2%    +0.1%    +0.2%    +0.2%
Core PCE Price Index Y/Y               +1.9%    +1.9%    +1.9%    +2.0%    +1.7%
Treasury Budget (bn)                   -74.9  -$146.8  +$214.3  -$208.7  -$215.2
Consumer Credit (bn)                           +$24.5   +$10.2    +$8.7   +$11.9
CB Consumer Confidence        127.4    126.4    128.8    125.6    127.0    130.0
Consumer Sentiment                      99.3     98.0     98.8    101.4     99.7
Car Sales (Ex GM), saar
(mn)                            3.0      3.1      3.0      3.1      3.2      3.3
Truck Sales (Ex GM), Saar
(mn)                            6.9      7.2      6.9      6.9      7.0      6.7
Total (Ex GM), saar (mn)        9.9     10.3      9.9     10.0     10.2     10.0
Retail Sales                           +0.5%    +0.8%    +0.4%    +0.7%    +0.1%
excl motor vehicles                    +0.4%    +0.9%    +0.4%    +0.4%    +0.4%
Personal Income                        +0.4%    +0.4%    +0.3%    +0.4%    +0.3%
Personal Spending                      +0.4%    +0.5%    +0.6%    +0.6%    -0.1%
ISM Mfg Index                  58.1     60.2     58.7     57.3     59.3     60.8
ISM Nonmfg NMI                          59.1     58.6     56.8     58.8     59.5
MNI Chicago Report             65.5     64.1     62.7     57.6     57.4     61.9
Phila Fed Mfg Index            25.7     19.9     34.4     23.2     22.3     25.8
Phila Fed Nonmfg Index         44.3     39.1     45.3     27.6     30.1     31.0
Empire State Index             22.6     25.0     20.1     15.8     22.5     13.1
KC Fed Mfg Index                 23       28       29       26       17       17
Richmond Fed Mfg Index           20       21       16       -3       15       28
Dallas Fed Mfg Index           32.3     36.5     26.8     21.8     22.8     38.4
Markit Mfg Index               55.3     55.4     56.4     56.5     55.6     55.3
Markit Services Index          56.2     56.5     56.8     54.6     54.0     55.9
Ind Production                         +0.6%    -0.5%    +1.1%    +0.5%    +0.4%
Capacity Util                            78%    77.7%    78.2%    77.5%    77.2%
Factory Orders                                  +0.4%    -0.4%    +1.7%    +2.0%
Factory Orders ex
transport                                       +0.7%    +0.9%    +0.5%    +0.3%
Durables                               +1.0%    -0.4%    -1.0%    +2.7%    +4.5%
Durables ex transport                  +0.4%     Flat    +1.9%    +0.5%    +1.3%
Nondurables                                     +1.1%    +0.3%    +0.6%    -0.3%
Mfg Shipments                                   +0.6%    +0.1%    +0.7%    +0.3%
Business Inventories                            +0.4%    +0.3%    -0.1%    +0.6%
Factory                                         +0.2%    +0.4%    +0.2%    +0.3%
Retail                                          +0.4%    +0.4%    -0.7%      +.6
Wholesale                                       +0.6%    +0.1%    +0.2%    +0.8%
Housing Starts (mn)                    1.173    1.337    1.276    1.327     1.29
Building Permits (mn)                  1.292    1.301    1.364    1.377    1.323
NAHB Index                       68       68       70       68       70       71
New Home Sales (k)                       631      666      641      672      663
Existing Homes (mn)                     5.38     5.41     5.45     5.60     5.54
Pending Home Sales Index               106.9    105.9    106.4    107.6    107.2
Construct Spending                     -1.1%    +1.3%    +1.7%    -0.9%    +2.3%
Private Residential                    -0.5%    +1.3%     3.1%    -2.4%    +3.4%
Trade Balance (bn)                             -$43.1   -$46.1   -$47.2   -$55.5
Exports (bn)                                  +$215.3  +$211.2  +$210.7  +$206.1
Imports (bn)                                  +$258.3  +$257.3  +$257.9  +$261.6
Goods Only, BOP (bn)                           -$65.7   -$68.3   -$69.3   -$76.7
Leading Index                                   +0.2%    +0.4%    +0.4%    +0.7%
                                                Q2-18    Q1-18    Q4-17    Q3-17
GDP (chain-wt)                                  +4.1%    +2.2%    +2.3%    +2.8%
Final Sales                                     +5.1%    +1.9%    +3.2%    +1.8%
Chain prices                                    +3.0%    +2.0%    +2.5%    +2.2%
Current-dollar                                  +7.4%    +4.3%    +5.1%    +4.8%
                                                         Q1-18    Q4-17    Q3-17
Nonfarm Productivity                                     +0.4%    +0.3%    +2.6%
Nonfarm Unit Labor Costs                                 +2.9%    +2.1%    +1.0%
                                                         Q1-18    Q4-17    Q3-17
ECI (q/q)                                                +0.8%    +0.6%    +0.7%
(a) advance report
--MNI Washington Bureau; +1 202-372-2121; email: shikha.dave@marketnews.com
[TOPICS: MTABLE,MAUDT$,M$U$$$]