Morning Brew August 2 2021

Erik Schafhauser

Senior Relationship Manager

Good Morning

Good Morning and an great start into August where initially progress in the US Infrastructure Bill outweighs a disappointing Chinese PMI – it came at  50.4, while the expectation was 50.8.

A bipartisan group of senators finished  a plan that would add USD 550 bio to the already decided USD 450 bio.

International Index Futures gain around 0.5% over the weekend, after giving up a similar percentage on Friday.  FX was fairly quiet with the USD Index at 92.10, EURUSD at 1.1872, GBPUSD at 1.3907 and God and Silver at 1811 and 25.50. Chinese shares can revover off last weeks selloff 2,3% higher. 

Friday, Amazon dropped 7.6% on disappointing results, Square is looking to buy Afterpay in a 29 Bio transaction, HSBC reports better than expected earnings, doubling its earnings despite a decline in revenue.

This week, earnings, the US infrastructure bill, international PMIs and the Nonfarm Payroll will be in focus. The US seems to be investigating regulation of crypto currencies. Even as Fed`s Brainard calls for a Fed driven digital currency. Also any hint of tapering or a delay thereof will be heeded. 

This week’s earnings include: Mitsubishi, Amgen, 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

2 Aug 2021

02:30

Japan

Jibun Bank Mfg PMI

Jul

Index (diffusion)

2 Aug 2021

02:30

South Korea

IHS Markit Mfg PMI

Jul

Index (diffusion)

2 Aug 2021

03:45

China (Mainland)

Caixin Mfg PMI Final

Jul

51.0

Index (diffusion)

2 Aug 2021

09:00

Turkey

Manufacturing PMI

Jul

Index (diffusion)

2 Aug 2021

09:45

Italy

Markit/IHS Mfg PMI

Jul

61.5

Index (diffusion)

2 Aug 2021

09:50

France

Markit Mfg PMI

Jul

58.1

Index (diffusion)

2 Aug 2021

09:55

Germany

Markit/BME Mfg PMI

Jul

65.6

Index (diffusion)

2 Aug 2021

10:00

Euro Zone

Markit Mfg Final PMI

Jul

62.6

Index (diffusion)

2 Aug 2021

10:30

United Kingdom

Markit/CIPS Mfg PMI Final

Jul

60.4

Index (diffusion)

2 Aug 2021

15:00

Brazil

Markit Mfg PMI

Jul

Index (diffusion)

2 Aug 2021

15:45

United States

Markit Mfg PMI Final

Jul

Index (diffusion)

2 Aug 2021

16:00

United States

ISM Manufacturing PMI

Jul

60.9

Index

3 Aug 2021

01:30

Japan

CPI Tokyo Ex fresh food YY

Jul

0.0%

Percent

3 Aug 2021

01:30

Japan

CPI, Overall Tokyo

Jul

Percent

3 Aug 2021

03:30

Australia

Building Approvals

Jun

-4.5%

Percent

3 Aug 2021

06:30

Australia

RBA Cash Rate

Aug

0.10%

Percent

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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