Morning Brew -03 August 2021

Morning Brew -03 August 2021

Erik
Erik Schafhauser

Senior Relationship Manager

Good Morning

Markets are fairly quiet and still looking for direction, US Indexes closed a little lower yesterday but could recover the losses over night. Volumes were well below the recent average. US 10 year yield fall to below 1.20 and the USD Index remains below 92.10. Bitcoin cannot hold above the 40k to trade at 38.300. Gold and Silver lose to 1811 and 27.30.

The Australian central bank upheld it’s decision to taper it`s asset purchase program despite the delta corona variant on the rise, the AUD rises to the upper end of the range neat 0.74.

According to a Reuters report, China issued guidelines that require up to 100% local content on hundreds of items, erecting fresh barriers for foreign suppliers. Chinese state media called online video games "spiritual opium", sending shares of Tencent down 8% on worries of looming regulation.

Chinas interventions in the market seem to be continuing and it will be interesting to see what may come next.

Standard Chartered can raise profits despite falling revenues and announced a share buyback.

Today there are few key economic events, US Factory Orders are significant and progress on the US Infrastructure plan could be positive.

This week’s earnings include: Alibaba, Eli Lilly, BP, ConocoPhillips, Toyota, Sony, General Motors, Uber, Siemens, Merck, Square, Llumina, Novo Nordisk, Moderna, Berkshire Hathaway Allianz, Adidas

 

Local Start Date

Local Time

Country/Region

Indicator Name

Period

Reuters Poll

Unit

3 Aug 2021

09:00

Turkey

CPI MM

Jul

1.54%

Percent

3 Aug 2021

14:00

Brazil

Industrial Output MM

Jun

0.0%

Percent

3 Aug 2021

14:00

Brazil

Industrial Output YY

Jun

11.8%

Percent

3 Aug 2021

14:00

New Zealand

Milk Auctions

3 Aug, w/e

USD

3 Aug 2021

15:30

Canada

Markit Mfg PMI SA

Jul

Index (diffusion)

3 Aug 2021

16:00

United States

Factory Orders MM

Jun

1.0%

Percent

4 Aug 2021

00:45

New Zealand

HLFS Unemployment Rate

Q2

4.5%

Percent

4 Aug 2021

00:45

New Zealand

Labour Cost Index - QQ

Q2

0.7%

Percent

4 Aug 2021

00:45

New Zealand

Labour Cost Index - YY

Q2

2.1%

Percent

4 Aug 2021

02:30

Japan

Services PMI

Jul

Index (diffusion)

4 Aug 2021

03:30

Australia

Retail Sales MM Final

Jun

-1.8%

Percent

4 Aug 2021

03:30

Australia

Retail Trade

Q2

0.9%

Percent

4 Aug 2021

03:45

China (Mainland)

Caixin Services PMI

Jul

Index (diffusion)

4 Aug 2021

08:00

United Kingdom

Reserve Assets Total

Jul

USD

4 Aug 2021

09:50

France

Markit Serv PMI

Jul

57.0

Index (diffusion)

4 Aug 2021

09:50

France

Markit Comp PMI

Jul

Index (diffusion)

4 Aug 2021

09:55

Germany

Markit Services PMI

Jul

62.2

Index (diffusion)

4 Aug 2021

09:55

Germany

Markit Comp Final PMI

Jul

Index (diffusion)

4 Aug 2021

10:00

Euro Zone

Markit Serv Final PMI

Jul

60.4

Index (diffusion)

4 Aug 2021

10:00

Euro Zone

Markit Comp Final PMI

Jul

60.6

Index (diffusion)

4 Aug 2021

15:00

Brazil

Markit Services PMI

Jul

Index (diffusion)

4 Aug 2021

15:00

Brazil

Markit Composite PMI

Jul

Index (diffusion)

4 Aug 2021

15:45

United States

Markit Comp Final PMI

Jul

Index (diffusion)

4 Aug 2021

15:45

United States

Markit Svcs PMI Final

Jul

Index (diffusion)

4 Aug 2021

16:00

United States

ISM N-Mfg PMI

Jul

60.4

Index

4 Aug 2021

23:00

Brazil

Selic Interest Rate

4 Aug

5.25%

Percent

5 Aug 2021

03:30

Australia

Trade Balance G&S (A$)

Jun

10,450M

AUD

5 Aug 2021

08:00

Germany

Industrial Orders MM

Jun

1.5%

Percent

5 Aug 2021

13:00

United Kingdom

BOE Bank Rate

Aug

0.10%

Percent

5 Aug 2021

13:00

United Kingdom

GB BOE QE Corp

Aug

20B

GBP

5 Aug 2021

14:30

United States

International Trade $

Jun

-73.9B

USD

5 Aug 2021

14:30

United States

Initial Jobless Clm

31 Jul, w/e

380k

Person

5 Aug 2021

14:30

Canada

Trade Balance C$

Jun

-0.80B

CAD

6 Aug 2021

05:00

New Zealand

Reserve Assets Total

Jul

NZD

6 Aug 2021

08:00

Germany

Industrial Output MM

Jun

0.5%

Percent

6 Aug 2021

08:00

United Kingdom

Halifax House Prices MM

Jul

Percent

6 Aug 2021

08:00

Norway

Reserve Assets Total

Jul

NOK

6 Aug 2021

08:45

France

Reserve Assets Total

Jul

EUR

6 Aug 2021

09:00

Switzerland

Forex Reserves CHF

Jul

CHF

6 Aug 2021

14:30

United States

Non-Farm Payrolls

Jul

900k

Person

6 Aug 2021

14:30

United States

Unemployment Rate

Jul

5.7%

Percent

6 Aug 2021

14:30

United States

Average Earnings YY

Jul

3.9%

Percent

6 Aug 2021

14:30

Canada

Employment Change

Jul

150.0k

Person

6 Aug 2021

14:30

Canada

Unemployment Rate

Jul

7.4%

Percent

7 Aug 2021

China (Mainland)

Exports YY

Jul

Percent

7 Aug 2021

China (Mainland)

Imports YY

Jul

Percent

7 Aug 2021

China (Mainland)

Trade Balance USD

Jul

USD

9 Aug 2021

03:30

China (Mainland)

PPI YY

Jul

Percent

9 Aug 2021

03:30

China (Mainland)

CPI YY

Jul

Percent

(Refinitiv)

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