Monday, September 1, 2014

Main points of the day

•     Dollar firm on good US indicators, Ukraine tensions
–    Personal income and spending disappointed, but Chicago PMI and consumer confidence rose more than expected
–    Ukraine tensions worsen; impossible to ignore the likely impact on Eurozone economy
•     NZD firms as terms of trade unexpectedly rise
•     RUB leads Eastern European currencies lower as Ukraine worsens
•     China August PMIs slow, but remain over 50
–    AUD gains steadily, but remains below Friday’s opening levels
•     Today:
–    Eurozone: Final August manufacturing PMIs from Germany, France, Eurozone; other Eurozone countries announce their PMIs
–    UK:  manufacturing PMI, July mortgage approvals expected to decline
–    US and Canada on holiday
•     Six G10 central banks to hold meetings this week!
–    RBA (Tue), Bank of Canada (Wed), BoJ ECB, Bank of England and Riksbank (Thu)
•     Non farm payrolls out Fri; +209k expected, down from 220k in July

–    Remaining above 200k would show continued solid growth

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