0030GMT - TD Securities/Melbourne Institute (MI) Inflation Gauge for August,
- prior was 0.2% m/m and 1.6% y/y.
- The 'trimmed mean' for July was +0.1% m/m & +1.5% y/y
Inflation on this measure is not a concern for the RBA
Due from Japan today
2350GMT - Preliminary Industrial production for July
- For the m/m, expected is +0.1%, prior was +1.1%
- For the y/y, expected is +0.8%, prior was +2.3%
0400GMT - Vehicle production for July, prior was -5.3% y/y
Xinhua News Agency reports on preparations for the big parade in Beijing on Thursday
- Temporary controls to last from August 28 to September 4
- More than 10,000 factories reducing or stopping production
I hope everyone had a great weekend. If its still the weekend where you are - squeeze more fun out of it, Monday is on the way!
This is me this morning
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Ryan posted up the summary of the pertinent comments fro Jackson Hold over the weekend.
I found a couple of snippets that I thought were relevant from some of thecentral bankers not so much in the spotlight:
A quick and early preview of the latest from the RBA (announcement due at0430GMT on Tuesday).
- Polls of economists show a unanimous view that there will be NO change on the cash rate
Views from around the place ...
China's PM Li Keqiang quoted from an official statement issued Saturday, said there was no basis for a continued depreciation of the yuan
- Said yuan can remain "basically" stable on a "reasonable and equilibrium level"
From Morgan Stanley FX research:
USD: USD Strong against EM. Bullish.
We see scope for USD strength to continue. However, we distinguish between
the performance of USD against low yielding funding currencies, where we see
less scope for depreciation, and against commodity currencies and EM, where we
expect strength to be focused. Even the risks of a more dovish Fed are unlikely
to drive USD to depreciate against this latter group of currencies, as growth
prospects in the rest of the world remain below those of the US.
Swiss National Bank Chairman Thomas Jordan, in an interview with Swiss NZZ am Sontag on the weekend
- Swiss interest rates will stay negative "for some time"
On moves towards policy normalization in other coutnries:
A paper presented at the Jackson Hole symposium this weekend argued against strict rule-based monetary policy
- Presented by Johns Hopkins University economics professor Jon Faust (who served as a special adviser to the Fed's board of governors until September 2014)
Berkshire Hathaway disclosed a $4.5 billion stake in a Houston-based oil refiner according to a regulatory filing issued Friday
- Buffett's company now holds more than 10% percent of the total outstanding shares in Phillips 66
Says Cliff Gallant, an analyst at Nomura Holdings
With the Greek crisis off the market's top concern list, just a catch up on a couple of headlines this weekend:
There is a national election next month
- Former Greek PM Tsipras's Syriza party is leading the conservative opposition
Christine Lagarde, head of the International
Monetary Fund, speaking with Swiss newspaper Le temps ():
There's nothing major out of the Hole this time around so here's the latest
BOE's Mark Carney was pretty run of the mill and all but kept prior MPC language
- BOE can look through temporary disinflationary effect
Fed's Stanley Fischer had a bit to say and it was a lot like his comments yesterday but just said differently