1 minute ago | September 2nd, 2014 01:53:39 GMT

Japan data – a closer look: Japanese wages up most since 1997


Japanese wages unexpectedly up 2.6% from a year ago in July (data here: Japan – July Labor Cash Earnings: +2.6% (vs. expected +0.9%)

  • Climbed by their most since 1997,
  • Should be a  boost for consumer confidence and household spending
  • Details of the report are slightly less encouraging than the headline, but still optimistic:
  • Regular earnings grew 0.7% y/y (June was +0.2%) for the most since March 2000
  • Wages for overtime hours rose 1.9% (3.9% in June)

More at FastFT (gated)


12 minutes ago | September 2nd, 2014 01:43:15 GMT

USD surging in Asia


No particular news to point the finger at, but the USD is surging.

GBP, EUR, yen, AUD, NZD, and CAD all suffering.

The CHF has lost only a little ground, but relatively it’s doing OK


25 minutes ago | September 2nd, 2014 01:30:18 GMT

Australia – Q2 BoP Current Account balance: -13.7bn (vs. expected -14.0bn)


Quarterly BoP Current Account balance, for Q2, -13.7bn

  • expected -14.0bn, prior was -5.7bn

The ‘net exports as a % of GDP’ for Q2, -0.90

  • expected was -0.7%
  • prior was 1.40%


Weak data will detract from the Q2 GDP (for release tomorrow, but the RBA will have it for today’s meeting)

This data will subtract about 0.9pp from June quarter GDP


40 minutes ago | September 2nd, 2014 01:14:39 GMT

AUD/USD & NZD/USD orders


AUD/USD – it’s a big day for data and the RBA so take extra care …

  • Sellers 0.9375, more 0.9390/0.9410 … stops mingled in above 75
  • Buyers 0.9300/10/15
  • Buyers 0.9280, 0.9250/60

Current 0.9329



  • Sellers 0.8410/ through 35 and more ahead of and at 0.8450 – some stops mingled above the figure and again above 30
  • Buyers 0.8330/35/40 then 0.8300/10/20

Current 0.8374


47 minutes ago | September 2nd, 2014 01:08:20 GMT

New Zealand – ANZ comments on August Commodity Price Index results


ANZ Commodity Price Index (measures the change in the selling price of exported commodities) for August, -3.3% m/m, the second-largest decline of the past 6 months

  • prior was -2.4%
  • Index falls to a 6-month low
  • Milk powder and butter prices ‘double-digit declines’, dairy sub-index falls 11.8% m/m to a 23-month low
  • Beef prices up 13% m/m (setting a new record high)
  • Aluminium prices increased 4% to an 18-month high
  • Wool prices recovered 2% from a dip last month
  • Commodity prices down 7.2% y/y
  • After converting to New Zealand dollars, prices dropped 0.4% m/m and 12.5% y/y


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