Macro Data Sept 13 - 17 Inflation, Retail Sales and signs of slowing in focus.


13 Sep

This and previous notes can be found at  SubStack ( Asian Market Sense )
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Inflation data in focus this week with the US the main focus but also from Eurozone, France and the UK. Retail sales data important too for a gauge of consumer sentiment both in the US, China and the UK
China data in focus too watching for signs of a slowdown.

Overall a light week for data but with the covid delta variant and now the mu variant too that will remain a concern.
Investors will also be watching for more clarification on what Dual Circulation and Common Prosperity are going to mean for investments in China.
US/China policy also in focus with talk that the US is reconsidering tariffs on China. Also in the US there will also be focus on the Infrastructure bill, whilst in China the concern over Evergrande and the property sector. As I wrote in my article on Dual Circulation I think Property for the Chinese authorities is less important and the ideology, and moving up the advanced manufacturing ladder is more important than growth. Happy to discuss let me know if you would like a call.

Monday 13 Sept 
AUSTRALIA  Consumer Inflation Expectations
JAPAN 
BSI Large Manufacturing data, PPI Aug
S KOREA First 10 day Import and Export numbers
TAIWAN No data due  
CHINA No data due, could get FDI (YTD) at any point.  
HONG KONG No data due
EUROZONE No data due
GERMANY Wholesale Prices
FRANCE No data due  
UK No data due  
US Consumer Inflation expectations and Monthly Budget Statement.
Earnings from Oracle
 
Tuesday 14 Sept
AUSTRALIA  
Business Confidence, House Price Index
JAPAN Industrial Production and Capacity Utilisation.
S KOREA Export and Import Prices  
TAIWAN No data due  
CHINA No data due  
HONG KONG No data due  
EUROZONE No data due  
GERMANY No data due
FRANCE IEA Oil Market Report
UK Claimant Count, Employment Change, Ave Earnings, Unemployment Rate.
US NFIB Business Optimism Index, Inflation Rate, Core Inflation, Redbook, API Crude Oil Stock Change

Wednesday 15 Sept
AUSTRALIA  
New Home Sales, Consumer Confidence Index & Change.
JAPAN Tankan Index, Machinery Orders, Tertiary Industrial index
S KOREA 
Unemployment Rate
TAIWAN No data due  
CHINA 
House Price Index, Fixed Asset Investment (YTD), Industrial Production, Retail Sales and Unemployment.
HONG KONG 
No data due  
EUROZONE 
Industrial Production, Labout Cost Index, Wage Growth.
GERMANY 
No data due  
FRANCE 
Inflation Rate
UK 
Inflation Rate, Core Inflation, Retail Price Index, PPI (Input, Output, Core Output)
US MBA Mortgage Applications and 30 yr Mortgage Rate, Export  & Import  Prices, NY Empire State Manufacturing Index, Industrial & Manufacturing Production, Capacity Utilisation, EIA Oil Report

Thursday 16 Sept
AUSTRALIA  
Employment Data (Part Time, Unemployment, Employment Change,  Full Time Employment Change, Participation  Rate)  RBA Bulletin
JAPAN Foreign Stock & Bond Investment, Balance of Trade, Exports, Imports.
S KOREA No data due
TAIWAN 
No data due
CHINA No data due  
HONG KONG 
No data due
EUROZONE 
No data due
GERMANY No data due  
FRANCE 
No data due
UK No data due
US Retail Sales, Philadelphia Fed Manufactruing Index, Business Inventories, Initial Claims, 4 week Average Claims, Continuing Claims, EIA Natural Gas Report, Foreign Bond Investment, Overall Net Capital Flows, Net Long Term Tic Flows,  

Friday 17 Sept
AUSTRALIA  
No data due
JAPAN No data due
S KOREA No data due  
TAIWAN 
No data due
CHINA No data due  
HONG KONG 
No data due
EUROZONE Current Account, Construction Output, Core Inflation, Inflation
GERMANY 
No data due
FRANCE 
No data due
UK 
Retail Sales,
US Michigan Data Prelim Sept (Consumer Expectations, 5year Inflation Expectations, Consumer Sentiment, Inflation Expectations, Current Conditions) Baker Hughes Rig Count.

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