• Australian Manufacturing in July 49.6 vs 48.2 expected, with pressures over the past few months easing.
• NZ Building Permits for June +3.5% m/m prior -2.2% which is positive, however the number is still down 20% from the June 22 figure.
• Chinese media are taking pot shots at Australia again warning of tight ties with the US after the two countries expand military operations together.
• US earnings season continues this week with Apple, Amazon and Uber up this week.
• German Retail Sales -0.8% vs 0.2% expected in June highlighting poor consumer spending.
• July Chinese manufacturing data index (49.3) remains in contraction- the 4th straight month.
• The Japanese Yen (JPY) is the strongest performer over the month of July with the US Dollar (USD) the worst performer.
Major Announcements last week:
German and French manufacturing print below expectations
Australian CPI y/y 6.0% ending June quarter
ECB hike 25% points to 4.25%
Canadian GDP m/m 0.3%
US advanced GDP second quarter 2.4% vs 1.8% expected.