First place finance - Weekly markets review
The Italian coalition-government led by Lega Nord and Five Star Movement (M5S) is expected not to last a very long time. Matteo Salvini who is the leader of the Lega Nord is likely to prove in election as the the issues between the coalition partners is growing wider.
The British pound could mark greater volatility as the deadline for the latest Brexit is approaching. The sterling versus the USD slipped and entered into a consolidation above the 1.3000 handle.
Last week, President Donald Trump reported that his administration would impose a 10% tariff on further $300 billion in Chinese goods as of Sept. 1. As a matter of fact, last year, the U.S. levied a total of $250 billion in tariffs.
The JPY has seriously dropped versus the USD. In reality, USD/JPY sunk to its 2019 bottom. The currency has been supported by a range of economic issues.
EUROPE:
Today, the Turkish Inflation Rate YoY was reported to 16.65 % from 15.72%. Also, today, the Swiss CHF Retail Sales Real (YoY) (JUN) came to 0.7% from -1.1%. Moreover, EUR Markit Germany Services PMI (JUL F) slipped to 54.5 from 55.4.
Tomorrow, EUR Markit Germany Construction PMI (JUL) will be reported from 50.0. Also, is due EUR German Factory Orders n.s.a. (YoY) (JUN) with a last mark of -8.6%.
On Wednesday, the EUR German Industrial Production n.s.a. and w.d.a. (YoY) (JUN) is anticipated with an estimate of -3.1% from -3.7%.
On Thursday, at 8:00 a.m. is due the EUR ECB Publishes Economic Bulletin.
On Friday, EUR German Trade Balance (JUN) is coming out with a forecast of 19.8b from a last close of 20.6b.
U.S.:
Today, at 2p.m. USD ISM Non-Manufacturing/Services Composite (JUL) will be announced from a mark of 55.1. Additionally, at 5.30 p.m. USD Fed's Brainard will speak on the Payment System.
Tomorrow, at 2 p.m. USD JOLTS Job Openings (JUN) will be stated. Additionally, at 4 p.m. USD Fed's Bullard will speak on U.S. Economy in Washington.
On Wednesday, at 7 p.m. USD Consumer Credit (JUN) is expected to come to $16.500b from $17.086b. Moreover, at 11 a.m. USD MBA Mortgage Applications (AUG 2) from -1.4% is due.
On Thursday at noon, USD Initial Jobless Claims (AUG 3) will be announced with a forecast of 215k.
On Friday, at 5p.m. USD Baker Hughes U.S. Rig Count (AUG 9) will be reported from 942.
ASIA:
Today, the New Zealand Employment Change (YoY) (2Q) is expected with a mark of 1.2% from 1.5%. At 11.30 the Japanese Overall Household Spending (YoY) (JUN) is due with a forecast of 1.2% from 4.0%.
Tomorrow, the Australian RBA Cash Rate Target will be announced with a previous mark of 1%. Furthermore, the Australian AiG Performance of Construction Index (JUL) will come out from 43.
On Wednesday, at 3 p.m. the New Zealand RBNZ Governor News Conference After OCR Decision will take place. Additionally, JPY Trade Balance - BOP Basis (Yen) (JUN) is predicted to mark ¥708.0b from -¥650.9b.
On Thursday at 11:50 p.m., the Japanese Gross Domestic Product Annualized s.a. (QoQ) (2Q P) will be announced.
On Friday, the Chinese New Yuan Loans CNY (JUL) is due with an estimate of 1300.0b from 1660.0b. Moreover, at 1.30 p.m. the Chinese Consumer Price Index (YoY) (JUL) will be announced with an expectation of 2.7%.
