Recap 8-9-12

Main Items:

  • US Initial Jobless Claims declined to 361k last week vs 370k exp and 365k prev
  • BoJ kept policy rates unchanged at 0.1% as exp
  • ECB’s Noyer: "Our operations will be of sufficient size to have a strong impact on the markets. We should be ready to intervene very soon, prioritizing short-term debt markets.”

Overseas:

  • China July Data:
  1. CPI declined to 1.8% YoY vs 1.7% exp and 2.2% prev
  2. IP declined to 9.2% yoY vs 9.7% exp and 9.5% prev
  3. Retail Sales declined to 13.1% vs 13.5% exp and 13.7% prev

Australia Employment increased 14k in July vs 10k exp and -27k prev. Unemployment was stable at 5.2% vs 5.3% exp.

BoK kept policy rates unchanged as exp

Upcoming Data:

  • Fri: UK PPI, Canada Employment, USDA Crop report
  • Mon: RICS House Prices Balance, BoJ Minutes, Australia NAB Business Confidence
  • Tues: UK CPI, EU 2Q GDP, German Zew, US PPI, Retail Sales

Commentary & Links:

None

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