MACRO DATA IMPACTING ASIA Dec 7 - 11


06 Dec

Overview

Rising covid cases last week had little impact on the markets continued rise and there is little reason to think it will be different this week.

Asian markets have the overhang of deteriorating US/China relations and concerns about more possible sanctions before Trump leaves office. Most markets in Asia continue to grind higher with a positive outlook for exports especially chips and tech. Trade and inflation data for China and Taiwan will be watched closely. For Japan GDP Growth and Household Spending and for S Korea Futures & Options Expiry could be key.

Brexit overhangs the European markets with Johnson and EU President Ursula von der Leyen agreeing to try and reach a deal.  The ECB rate decision and comments on the Euro’s recent strength will be a focus too. Along with  German Industrial Production and Trade Data will also be closely watched.
In the US stimulus talks and covid cases are likely to be the main focus. With many seeing Mitch McConnell’s input being crucial to any deal being achieved. Congress also needs to agree spending resolutions to fund the government, which includes being able to pay unemployment benefits. Bond yields will be closely watched along with other indicators of potential inflation. On Thursday the FDA advisory committee meets to discuss the emergency use authorisation for the Pfizer/BioNTech vaccine which will be important for investor confidence.

Monday Dec 7 
JAPAN Foreign Exchange Reserves, Leading Economic Indicators, Coincident Index
S KOREA No data due
TAIWAN Balance of Trade, Exports, Imports,
CHINA Balance of Trade, Exports, Imports, Foreign Exchange Reserves
HONG KONG Foreign Exchange Reserves
EUROZONE No data due
GERMANY Industrial Production
FRANCE No data due
UK Halifax House Price Index
US Consumer Credit

Tuesday Dec 8
JAPAN Tankan Index, Household Spending, Average Cash Earnings, Current Account, GDP Growth (Rate, Annualised, External Demand, Private Consumption, Capital Expenditure), Bank Lending, EcoWatchers Current and Outlook.
S KOREA No data due
TAIWAN Wholesale Prices, Inflation Rate
CHINA No data due
HONG KONG No data due
EUROZONE Employment Change, GDP Growth Rate, ZEW Economic Sentiment Index
GERMANY ZEW Economic Sentiment Index and Current Conditions.
FRANCE No data due
UK No data due
US NFIB Business Optimism, Non Farm Productivity, Unit Labour Costs, Redbook, API Crude Oil Stock Change

Wednesday Dec 9
JAPAN Machinery Orders, Machine Tool Orders
S KOREA No data due
TAIWAN No data due
CHINA Inflation Rate
HONG KONG No data due
EUROZONE No data due
GERMANY Balance of Trade, Exports, Imports, Current Account.
FRANCE No data due
UK BoE FPC Record & Financial Stability Report
US MBA 30 Year Rate & New Applications, Wholesale Inventories, JOLTs Job Openings, EIA Oil report.

Thursday Dec 10
JAPAN BSI Large Manufacturing, Foreign Bond and Stock Investment, PPI
S KOREA No data due
TAIWAN No data due
CHINA No data due
HONG KONG No data due
EUROZONE ECB Interest Rate Decision and EU Council Meeting.
GERMANY No data due
FRANCE Industrial Production
UK Balance of Trade, Construction Output, Industrial Production, Manufacturing Production, GDP 3 mth Average, GDP, Goods Trade Balance, NIESR Monthly GDP Tracker.
US Core Inflation Rate, Inflation Rate, Initial Claims, 4 week Ave Claims, Continuing Claims, EIA Natural Gas Report, WASDE Report, Monthly Budget Statement.

Friday Dec 11
JAPAN No data due
S KOREA
 No data due
TAIWAN
 No data due
CHINA
 No data due
HONG KONG
 No data due
EUROZONE
 No data due
GERMANY 
Inflation Rate
FRANCE No data due
UK
 No data due
US 
PPI, Core PPI, Michigan Data Prelim (Current Conditions, Inflation Expectations, 5yr Inflation Expectations, Consumer Sentiment, Consumer Expectations), Baker Hughes Total Oil Rig Count.

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