ASIAN MACRO DATA Impacting Asia 6 - 10 July

13 Jul

ASIAN MACRO DATA Impacting Asia 6 - 10 July

The rising number of Covid-19 cases is likely to be the most closely watched data; especially in the US, although there will be time lag between the July 4 celebrations and new cases. In Europe there will be concerns about ‘second waves’ as lockdowns ease; especially as school holidays start. Rising cases in Africa and S America also likely to make the news. All as Dr Fauci warns covid-19 may have mutated and become more infectious and the WHO reports that new cases hit an all-time high on Saturday. It warned that some countries that are easing lockdown measures may have to tighten them again.

That means that much of the data for May/June is of less consequence due to most recent covid-19 outbreaks.

Another key overhang for markets will be the China tensions over US trade relations and HK sanctions, India, EU and other countries in response to the new Hong Kong law. Key for Hong Kong is the response by the US to the new security law.

For Asia most of the data is loaded in the start of the week.
Key for China this week will be Inflation and PPI data. We also get Foreign Exchange reserves.
For Japan Household spending, Bank Lending, Machinery Orders and PPI (Friday)
S Korea on Current Account data this week, Taiwan Balance of Trade data together with Inflation data and Wholesale Prices (Tuesday).

In Europe Construction PMI and Retail Sales along with German and French Industrial Production and Balance of Trade Data. In the UK we also get the Halifax House Price Index.

For the US Services and Composite PMI data, ISM Non Manufacturing Data, JOLT’s job openings, Consumer Credit, Wholesale Inventories and PPI will be closely watched. We also have a number of Fed speakers whose words will no doubt be closely watched

JAPAN No data due
S KOREA No data due
TAIWAN Foreign Exchange Reserves
CHINA No data due
HONG KONG No data due
EUROZONE Construction PMI, Retail Sales
GERMANY Factory Orders, Construction PMI
FRANCE Construction PMI, Retail Sales
UK New Car Sales, Construction PMI
USA Services and Composite PMI, ISM Non Manufacturing Data (Business Activity, Prices, New Orders, Employment and PMI)

JAPAN Household Spending, Ave Cash Earnings, Foreign Exchange Reserves, Prelim Coincident Index and Leading Economic Index
S KOREA Current Account
TAIWAN Balance of Trade, Exports, Imports, Inflation Rate, Wholesale Prices
CHINA Foreign Exchange Reserves
HONG KONG Foreign Exchange Reserves
EUROZONE No data due
GERMANY Industrial Production
FRANCE Balance of Trade, Current Account
UK Labour Productivity, Halifax House Price Index
USA Redbook, IBD/TIPP Economic Optimism, JOLT’s Job Openings, API Crude Oil Stock Changes

JAPAN Current Account, Bank Lending, Eco Watchers Survey Outlook and Current
S KOREA No data due
TAIWAN No data due
CHINA No data due
HONG KONG No data due
EUROZONE EU Commission Forecasts
GERMANY No data due
FRANCE No data due UK No data due
USA MBA Mortgage Applications and 30 yr Mortgage Rate, EIA Oil report, Consumer Credit Change

JAPAN Machinery Orders, Foreign Bond and Stock Investments, Machine Tool Orders
S KOREA No data due
TAIWAN No data due
CHINA Inflation Rate, PPI
HONG KONG No data due
EUROZONE No data due, EU Group Meeting
GERMANY Balance fo Trade, Exports and Imports
FRANCE No data due UK No data due
USA Initial Claims, Initial Claims 4 week Ave, Continuing Claims, Wholesale Inventories, EIA Natural Gas Stocks Change

FRIDAY 10 July
S  KOREA No data due
TAIWAN No data due
CHINA No data due
HONG KONG No data due
EUROZONE No data due EcoFin Conference Call
GERMANY No data due
FRANCE Industrial Production, IEA Oil Report
UK No data due
USA PPI, Core PPI, WASDE Report, Baker Hughes Total Oil Rig Count.

Source Trading Economics

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