Asia Morning Bites
The worldwide perspective on economic conditions and financial markets
The global stock markets had a positive week, with US stocks performing better than Chinese stocks. The US stock market will be closed tomorrow for the 4th of July holiday, so trading may be slower. US Treasury yields increased slightly on Friday. The Euro to USD exchange rate rose on Friday and remains above 1.09 currently. The Australian dollar and British pound have also gained value. The Japanese yen briefly rose but then dropped due to concerns about government intervention. Other Asian currencies also made gains against the US dollar. In the US, personal spending was lower than expected, and inflation rates were slightly softer than predicted. This week, there will be the US Manufacturing ISM survey, which is expected to show a less negative reading. In China, the Caixin PMI data will be released, which is expected to show manufacturing slowing down. In Japan, the Tankan survey showed the economy is recovering and expected to accelerate in the third quarter. In South Korea, the trade balance had a surplus due to falling global commodity prices, but manufacturing surveys show a less promising outlook. In Indonesia, inflation is expected to decrease, and the central bank may keep interest rates steady to support the currency.
The Tankan survey and Jibun PMI in Japan (on the 3rd of July)
Regional Purchasing Managers' Index reports (3 July)
Three July Australian construction licenses
China's Caixin PMI for manufacturing on 3rd July
Indonesia's Consumer Price Index (CPI) inflation data released on 3 July
US Institute for Supply Management manufacturing index (3 July)
South Korea Consumer Price Index (CPI) inflation (4th July)
Australia's Reserve Bank meeting will take place on July 4th.
Japan's own PMI services for the month of July, published on the 5th.
The inflation of consumer prices in the Philippines (as of 5th July)
China's Caixin Purchasing Managers' Index (PMI) for the services sector, published on 5 July, Note: "free English" typically means simplified language, so I have rewritten the sentence accordingly.
On 5th July, the Consumer Price Index (CPI) inflation in Thailand rose.
Sales in retail sector in Singapore (5th July)
The latest report on factory orders and durable goods in the United States (released on July 5th)
Summary of the Federal Open Market Committee meeting held on July 6th.
Australia's commerce (6 July)
The gathering of Malaysia's central bank, Bank Negara Malaysia, on 6 July
Taiwan's Consumer Price Index (CPI) inflation, as of 6th July,
Employment stats from the ADP in the United States, alongside the number of people filing initial jobless claims, trade balance, and the ISM services report (dated 6th July).
South Korea's balance of payments (BOP) on 7th July
Taiwan's commercial exchanges (7th of July)
US Nonfarm Payrolls (7th of July)
