Daily Alert: Tuesday 16th August 2016

Mark NugentAug 2016, Daily Alert

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Economic Calendar

Yesterday, Japanese GDP q/q came in at a disappointing 0.0% vs expectation of 0.2%. RBA meeting minutes show that wage costs are being constrained and there is ongoing concern at the strength of the AUD hindering a return to inflation target. Inflation seen as remaining around 1.5% this year and moving to 1.5% to 2.0% by the end of the forecast period.

Market Reaction

Monday saw reasonable risk-on appetite in equities with the three major stock markets in the US closing at all-time highs for the second week in a row.

Media

Nothing of note.

Forex Indexes

Ther Euro rises and is currently at near-term resistance. The GBP plumbs new depths. The CAD leaves the consolidation triangle to the upside.

Today

We have the first of the post-Brexit economic data from the UK today – CPI y/y. Later today we have US Core CPI and NZ Global Dairy.

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