Summary of key data from overnight - ANZ
|Analysts at ANZ Bank New Zealand Limited ("ANZ") gave a summary of the key data events from overnight sessions.
"US industrial production undershot expectations, rising 0.1% m/m in July, mirroring the easing seen in the PMI and ISM surveys. But this follows an upwardly-revised 1% m/m increase in June. The NAHB housing index continued to edge lower, coming in at 67 in August from 68 in July."
"UK July CPI data was in line with expectations, with headline CPI ticking up from 2.4% y/y to 2.5%. Core inflation was unchanged at 1.9% y/y, suggesting underlying inflation pressures are running around target. The BoE will be keeping an eye on sterling's slide; transport and food prices pushed headline CPI up slightly and are sensitive to movements in sterling. But with underlying inflation near target and Brexit uncertainty lingering, there is no need for further monetary tightening anytime soon."
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