Good Morning ,
- Aussie was the ''main mover'' (1.0553-1.0615) after stronger than expected employment data. Overall the other ''risk-currencies'' are also firmer ahead of the European opening.
- Stocks; Nikkei +1.08 %, Hang Seng +1.00 %, Shanghai Composite +0.53 %, Dow Jones +0.05 %, S+P500 +0.06 %
- French Finance Minister Pierre Moscovici said European Central Bank President Mario Draghi's pledge that the euro is irreversible represents "real progress" in the effort to contain the euro crisis.
- China's annual consumer inflation fell to a 30-month low in July, suggesting that the central bank has scope to ease policy further after rate cuts in June and July to keep the economy on track to meet an official 2012 growth target of 7.5 percent.
- China may set new property controls as early as this month after the central government's inspection team returns to Beijing, the official China Securities Journal reported. The government has some room to issue more policies, including raising the transaction tax on existing homes and expanding a property tax trial, the newspaper reported, without saying where it got the information. The policies will be based on inspection results and likely be this month as the government may want to avoid the traditional property sales season in September and October, it said.
- The Bank of Japan kept monetary policy steady on Thursday but cut its assessment on exports and output as companies feel the pinch from slowing global growth, signalling its readiness to expand stimulus again if risks to the outlook grow. The central bank kept its benchmark interest rate between zero and 0.1 percent and monthly bond purchases at 1.8 trillion yen.
- Reserve Bank of Australia Assistant Governor Guy Debelle comments in testimony to Senate committee in Sydney.
* Australia not immune to developments in Europe, but having Asia and China as larger trading partners better than a lot of the alternatives
* Says Europe situation is "delicate," some countries there in better shape than others
* Debelle: Banks' responses to interest-rate moves are factored into future policy decisions
- New Zealand's currency is vulnerable to carry trade-related capital flows from nations that have cut interest rates to zero, making it more difficult to set policy, according to central bank Governor Alan Bollard. "As a small open economy, New Zealand has often seen the effects of carry trades on the exchange rate," Bollard said in notes of a speech to be delivered in Canberra later today. "This can be distortionary and problematic, because an economy relies on its exchange rate as a signaling price."
- South Korea's central bank kept interest rates steady on Thursday, as expected, to assess the impact of last month's surprise cut, but investors continue to price in another reduction soon to shore up Asia's fourth-largest economy.
- Bank of Canada Governor Mark Carney said his country is in a "very different place" than economies such as the U.K.'s that are in crisis, and may require higher borrowing costs. "We had been growing above trend, and the extent to which we continue to grow above trend, we may withdraw some of that monetary policy stimulus," Carney said in an interview with the British Broadcasting Corp. "We have a financial system that's firing on all cylinders and so we will have to adjust, we will adjust if it's appropriate. That said, the world's a very dangerous place at the moment."
- 14:30 US Trade Balance June
- 14:30 US Initial Claims
- 16:00 US Wholesale Inventories June
- 10:00 ECB Monthly Report
- 10:00 Italy Trade Balance June
- 10:30 UK Trade Balance June
- 14:15 Canada Housing Starts July
- 14:30 Canada New Housing Price Index June
- 14:30 Canada Intl. Merchandise Trade June
- 09:30 Sweden Average House Price June (CET)
Have a nice day !
- Aussie was the ''main mover'' (1.0553-1.0615) after stronger than expected employment data. Overall the other ''risk-currencies'' are also firmer ahead of the European opening.
- Stocks; Nikkei +1.08 %, Hang Seng +1.00 %, Shanghai Composite +0.53 %, Dow Jones +0.05 %, S+P500 +0.06 %
- French Finance Minister Pierre Moscovici said European Central Bank President Mario Draghi's pledge that the euro is irreversible represents "real progress" in the effort to contain the euro crisis.
- China's annual consumer inflation fell to a 30-month low in July, suggesting that the central bank has scope to ease policy further after rate cuts in June and July to keep the economy on track to meet an official 2012 growth target of 7.5 percent.
- China may set new property controls as early as this month after the central government's inspection team returns to Beijing, the official China Securities Journal reported. The government has some room to issue more policies, including raising the transaction tax on existing homes and expanding a property tax trial, the newspaper reported, without saying where it got the information. The policies will be based on inspection results and likely be this month as the government may want to avoid the traditional property sales season in September and October, it said.
- The Bank of Japan kept monetary policy steady on Thursday but cut its assessment on exports and output as companies feel the pinch from slowing global growth, signalling its readiness to expand stimulus again if risks to the outlook grow. The central bank kept its benchmark interest rate between zero and 0.1 percent and monthly bond purchases at 1.8 trillion yen.
- Reserve Bank of Australia Assistant Governor Guy Debelle comments in testimony to Senate committee in Sydney.
* Australia not immune to developments in Europe, but having Asia and China as larger trading partners better than a lot of the alternatives
* Says Europe situation is "delicate," some countries there in better shape than others
* Debelle: Banks' responses to interest-rate moves are factored into future policy decisions
- New Zealand's currency is vulnerable to carry trade-related capital flows from nations that have cut interest rates to zero, making it more difficult to set policy, according to central bank Governor Alan Bollard. "As a small open economy, New Zealand has often seen the effects of carry trades on the exchange rate," Bollard said in notes of a speech to be delivered in Canberra later today. "This can be distortionary and problematic, because an economy relies on its exchange rate as a signaling price."
- South Korea's central bank kept interest rates steady on Thursday, as expected, to assess the impact of last month's surprise cut, but investors continue to price in another reduction soon to shore up Asia's fourth-largest economy.
- Bank of Canada Governor Mark Carney said his country is in a "very different place" than economies such as the U.K.'s that are in crisis, and may require higher borrowing costs. "We had been growing above trend, and the extent to which we continue to grow above trend, we may withdraw some of that monetary policy stimulus," Carney said in an interview with the British Broadcasting Corp. "We have a financial system that's firing on all cylinders and so we will have to adjust, we will adjust if it's appropriate. That said, the world's a very dangerous place at the moment."
- 14:30 US Trade Balance June
- 14:30 US Initial Claims
- 16:00 US Wholesale Inventories June
- 10:00 ECB Monthly Report
- 10:00 Italy Trade Balance June
- 10:30 UK Trade Balance June
- 14:15 Canada Housing Starts July
- 14:30 Canada New Housing Price Index June
- 14:30 Canada Intl. Merchandise Trade June
- 09:30 Sweden Average House Price June (CET)
Have a nice day !
