Commentary:
None
Notable:
- NZ Trade Balance
- US Core Capital Goods Orders declined -0.5% vs +0.2% exp. However, the previous print was revised up to 5.4% vs 1.4% prev. The headline figure jumped 22.6% vs 8% exp as a result of aircraft orders, but the revision was also strong, rising to 2.7% vs 0.7% prev
- House Prices: FHFA index rose 0.4% MoM while the Case Shiller measure fell -0.2% MoM. The two series seems to be converging to a ~6% YoY figure.
- Consumer Confidence rose to 92.4 vs 89 exp and 90.9 prev.
- Impact of Russian Food bans – According to Statista, the price of potatoes has gone up 72.7 percent since Jan. 1. Chicken and pork prices have increased 25.8 percent and 23.5 percent, respectively.
Upcoming:
- Wed: Italy Consumer Confidence, Australia New Home Sales, 2Q Private Cap Ex
- Thu: German CPI, US Jobless Claims, NZ Building Permits, UK GfK Consumer Confidence, Japan Unemployment, CPI
- Fri: Month End, UK House Prices, EU Unemployment, CPI, CanadaGDP, US Core PCE, Chicago PMI
- Mon: US holiday, AU Mfg PMI, Japan CapEx, China PMI, Japan PMI, EU PMI, Australia BoP, Building Approvals
- Tue: RBA, EU PPI, US Markit PMI, ISM, Australia GDP, Japan Services PMI
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