FX Update
Key Points:
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.