Data impacting Asia next week May 27 - 31
Fed favourite US Core PCE, China PMI's and Tokyo CPI and Japanese retail sales.
Asia
A relatively quiet week in terms of the amount of data but we do get some key data points; in the US Core PCE Price Index, a Fed favourite and hopefully showing a continued gradual fall. Also this week GDP and more housing data. In Japan Tokyo CPI and Retail Sale. In China we get the official PMI data for May.
US markets will be closed on Monday so expect lighter trading with many taking holidays for an extended weekend.
In Italy, G7 finance chiefs started a two-day meeting Friday, with the trade standoff between China and the West high on the agenda. So watch for their closing statement.
On Sunday; South Korea hosts a two-day trilateral summit with China and Japan; covering a wide range of topics from Trade to geopolitics.
Tuesday Cava
Wednesday Abercrombie & Fitch, Dick’s Sporting Goods, Salesforce, HP and Toast.
Thursday Dollar General, Burlington Store, Best Buy, Foot Locker, Kohl’s, Cracker Barrel, Gap, Marvell Technology, Ulta, Dell, Costco and Cloudflare
Investors will be watching the HP and Dell results to see the impact of AI and that could provide a boost to Lenovo in HK and Huawei in China.
A number of companies will be presenting at the UBS Asian Investment Conference; so watch for soundbites.
This week the World Health Assembly meets this week in Geneva; so healthcare stocks are likely to see more interest.
Taiwan in focus with China’s punishment exercises taking place and raising tensions. It is also interesting to see that the US’s Pentagon Chief is meeting with Cambodia’s Prime Minister Hun Manet in an effort to improve relationships.
Housekeeping
I’ll be on RTHK’s Money talk on Monday; so if you have any topics you’d like discussed please let me know.
For leading independent research, check out http://ERI-C.com a platform for vendors of interesting research and trading analysis. ERI-C is free to access, you can browse different independent research providers, most offer free trials so take a look.
Russell Napier just released his latest Solid Ground Newsletter “More USD Liquidity & Plan B For The Bank of Japan?”
There is a lot more on the platform and you can try before you buy; so take a look or drop me a line and I’ll go through it with you.
If you are interested in AI, I recommend Sean Maher of ENTEXT Economics & Research; He has a lot of excellent insights into how to invest in the AI sector; well beyond the chip names. He recently gave a webinar which I wrote up last week; let me know if you would like more details
There are lots more contributors on the ERIC platform; many with free trails so let know if you have interest.
For macro assets allocation checkout Mark Tinker’s Market Thinking
https://www.market-thinking.com His latest blog "Solid Silver at Sohn"
DATA week 27 - 31 May
New Zealand
Monday No data due
Tuesday No data due
Wednesday Business Confidence
Thursday Building Permits
Friday No data due
Australia
Monday No data due
Tuesday Retail Sales
Wednesday Leading Index, Construction Work Done, Monthly CPI Indicator
Thursday RBA’s Hunter speaks, Building Permits & Capital Expenditures, Plant & Machinery Capital Expenditures, Private Capital Expenditures and Private House Approvals
Friday Housing Credit, Private Sector Credit, Commodity Prices. Could get Dwelling Prices.
Japan
Monday Coincident & Leading Economic Index
Tuesday No data due
Wednesday Consumer Confidence
Thursday Foreign Bond and Stock Investment, 2 yr JGB Auction
Friday Unemployment Rate, Jobs/Applications Ratio, Tokyo CPI, Core and Ex Food & Energy, Industrial Production, Retail Sales, 3 mth Bill. Auction, Housing Starts and Construction Orders
S Korea
Monday No data due
Tuesday No data due
Wednesday No data due
Thursday No data due
Friday Industrial Production and Retail Sales
Saturday Balance of Trade, Exports & Imports
Taiwan
Monday Consumer Confidence
Tuesday No data due
Wednesday No data due
Thursday Growth Rate Final
Friday No data due
China
Monday Industrial Profits
Tuesday No data due
Wednesday No data due
Thursday No data due
Friday Manufacturing, Non Manufacturing and General PMI,
Hong Kong
Monday Balance of Trade, Exports, Imports
Tuesday No data due
Wednesday No data due
Thursday No data due
Friday Retail Sales
Singapore
Monday No data due
Tuesday MAS 12 & 4 week Bill Auction
Wednesday Export & Import Prices, PPI, 2 yr Bond Auction.
Thursday Bank Lending
Friday No data due
India
Monday No data due
Tuesday No data due
Wednesday M3 Money Supply
Thursday No data due
Friday Govt Budget Value, Bank Loan Growth, Deposit Growth, Foreign Exchange Reserves, Infrastructure Output, GDP Growth Rate, Fiscal Year GDP 3rd Est.
Europe
Eurozone
Monday EU Bonds Auction
Tuesday No data due
Wednesday Loans to Companies & Households, M3 Money Supply
Thursday Sentiment (Economic, Industrial & Services), Unemployment Rate, Consumer Confidence Final, Consumer Inflation Expectations.
Friday Flash Inflation Rate & Core, Flash CPI
Germany
Monday Ifo Business & Current Conditions and Expectations
Tuesday Wholesale Prices, 10 yr Bund/g Auction
Wednesday GfK Consumer Confidence, CPI (Regional), 15 yr Bund Auction, Inflation Rate & Harmonised
Thursday No data due
Friday Retail Sales, Import Prices
France
Monday 3, 6 & 12 month BTF Auction
Tuesday Unemployment Benefit Claims, Jobseekers Total
Wednesday Consumer Confidence
Thursday No data due
Friday Non Farm Payrolls & Private Non Farm Payrolls, Inflation Rate, GDP Growth Rate Final, PPI
United Kingdom
Monday No data due
Tuesday CBI Distributive Trades
Wednesday 15 yr Index Linked Treasury Gilt Auction
Thursday Car Production
Friday BoE Consumer Credit, Mortgage Approvals, Mortgage Lending, M4 Money Supply, Net Lending to Indivduals. Could get Nationwide Housing Prices.
United States
Monday No data due Markets closed for Memorial Day.
Tuesday Fed’s Mester speaks in Asian time. Case-Shiller Home Price, House Price Index, Fed’s Kashkari speaks, Consumer Confidence, Dallas Fed Manufacturing Index, 3 & 6 mth Bill Auction, 2 & 5 yr Bill Auction, Money Supply.
Wednesday MBA (Mortgage Applications, 30 yr Mortgage Rate, Market Index, Reference Index, Purchase Index), Redbook, Richmond Fed Index (Manufacturing, Shipping and Services), Dallas Fed Services & Services Revenues Index, 17 week Bill Auction, 2 yr FRN Auction, 7 yr Note Auction, Feds Williams speaks, Beige Book, API Crude Oil Stock Change.
Thursday GDP 2nd Est. (Growth Rate, Price Index, Sales) Corporate Profits, Initial Claims, 4 week Average Claims, Continuing Claims, Retail Inventories (Adv) and Ex Auto, Wholesale Inventories (Adv), PCE Prices 2nd Est. and Core, Real Consumer Spending, Pending Home Sales, EIA Oil Report, 4 & 8 week Bill Auction, 15 & 30 year Mortgage Rate, Fed’s Williams Speaks.
Friday Core and PCE Price Index, Personal Income & Spending, Chicago PMI, Baker Hughes Rig Count, Feds Bostic Speaks.