Japan’s Q2 GDP beat forecasts, lifting the yen and the Nikkei, while Chinese July data showed fresh weakness in home prices, industrial output, retail sales, and investment. Major FX moves were otherwise muted, with only small gains for GBP, CHF, EUR, and CAD against the USD.
- Reports that China has suspended car trade in subsidies in multiple regions
- Financial Times reports that China warns foreign companies against stockpiling rare earths
- China July home prices fall, even as Beijing eases suburban purchase restrictions
- China’s exports face pressure due to external uncertainties, firms face more difficulties
- China July factory output, retail sales miss forecasts, highlight growth challenges
- China July data: Retail sales +3.7% y/y (exp +4.6). Industrial prod +5.7% y/y (exp 5.9%)
- Japan finance minister Kato says monetary policy jurisdiction if BOJs
- Japan economy minister Akazawa: Govt, BOJ both striving to achieve 2% inflation
- China July China home prices show continued falls both m/m and y/y
- Crude oil markets are focused on Friday’s meeting between Trump and Putin in Alaska
- Japan Eco Minister Akazawa on GDP: Latest data confirm the economy is recovering modestly.
- PBOC sets USD/ CNY reference rate for today at 7.1371 (vs. estimate at 7.1852)
- Japan preliminary Q2 GDP +0.3% q/q (expected +0.1%)
- ICYMI – Trump administration to discuss US taking stake in Intel. Intel surged.
- Standard Chartered sees Ethereum hitting $25K on rising corporate demand
- New Zealand Food Price Index +0.7% m/m (prior +1.2%)
- New Zealand July manufacturing PMI 52.8 (up from prior 48.8)
- Soros Fund Management bought Nvidia shares in April – June, increased holding by 1600%
- Buffett buys into UnitedHealth, Nucor and homebuilders, trims Apple and BofA stakes
- investingLive Americas FX news wrap 14 Aug.PPI surges by 0.9% stoking some fears of tariff
- Confirmed – Federal Reserve Chair Powell to speak at 1000 US Eastern time on August 22
- RBNZ tipped to cut cash rate to 3% as inflation cools and jobless rate hits 4-year high
- US stocks close little changed but the S&P does close at a new record
- US Treasury Secretary Scott Bessant says exploring options to acquire additional Bitcoin
The session’s main focus was preliminary Q2 GDP data from Japan and a fresh batch of Chinese economic indicators.
Japan’s Q2 GDP rose 0.3% q/q (est 0.1%; prev 0.0%) and 1.0% annualised (est 0.4%; prev –0.2%), marking a fifth straight quarterly expansion, with both consumption and capital spending rising in each of those quarters. The yen firmed and the Nikkei advanced on the stronger-than-expected figures.
From China, July new home prices fell again both m/m and y/y, though annual declines narrowed modestly across all city tiers. Economic activity data then showed industrial output up 5.7% y/y (est 5.9%; prev 6.8%) and retail sales up 3.7% y/y (est 4.6%; prev 4.8%). Fixed asset investment rose 1.6% in Jan–Jul versus a forecast 2.7% and 2.8% in H1.
Outside of yen strength on the Japanese data, major FX moves were limited. GBP, CHF, EUR, and CAD were all marginally higher against the USD.
Asia-Pac
stocks:
- Australia
(S&P/ASX 200) +0.45% - Hong
Kong (Hang Seng) -1.25% - Shanghai
Composite +0.26% - Japan
(Nikkei 225) +1.01%
This article was written by Eamonn Sheridan at investinglive.com.