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South Korea Money Supply Growth Accelerates In June




South Korea's money supply growth accelerated in June after easing in the previous month, preliminary figures from Bank of Korea showed Tuesday.


M2, a broad measure of money supply climbed 6.1 percent year-over-year in June, faster than May's 5.7 percent increase.


On a monthly basis, M2 money supply rose at a steady rate of 0.5 percent in June.


The annual growth in liquidity quickened to 6.6 percent in June from 6.1 percent in the previous month.


Liquidity of financial institutions grew at a slightly faster rate of 6.7 percent yearly in June, following a 6.6 percent rise a month ago.


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Australia Wage Prices Rise 0.6% In Q2





Wage prices in Australia were up a seasonally adjusted 0.6 percent on quarter in the second three months of 2018, the Australian Bureau of Statistics said on Wednesday.


That was in line with expectations and up from 0.5 percent in the three months prior.


On a yearly basis, wage prices advanced 2.1 percent - matching forecasts and unchanged from the previous three months.


Western Australia and the Northern Territory both had the lowest annual wage growth of 1.5 percent, while Victoria and Tasmania were the highest at 2.5 percent.


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Japan Has Y231.2 Billion Trade Deficit





Japan had a merchandise trade deficit of 231.2 billion yen in July, the Ministry of Finance said on Thursday.


That was shy of expectations for a shortfall of 41.2 billion yen following the downwardly revised 720.8 billion yen surplus in June (originally 721.4 billion yen).


Exports were up 3.9 percent on year, missing expectations for a gain of 6.3 percent and down from 6.7 percent in the previous month.


Imports surged an annual 14.6 percent versus forecasts for 14.2 percent following the upwardly revised 2.6 percent gain a month earlier (originally 2.5 percent).


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An alarming bell for pound buyers


Risk assets recovered slightly against the US dollar, but the market continues to be in a bearish trend in general.


The situation around Turkey shows that the Turkish lira and the deby growth of Turkish banks makes all investors refrain also from new investments in risky assets.


Today, one can observe the continuation of a slight strengthening of the Turkish lira against the US dollar, however this harm indicates its stabilization after falling to a record low. Most likely, investors harbor some optimism from the press conference of the Minister of Finance of Turkey, which is due today, and on which Berat Albayrak will present an approximate plan for overcoming the crisis.


The growth of the Turkish currency was approximately 2.5% in line with the closing level of yesterday, and just a week the lira rose against the dollar by 9.9%. Many associate such growth with the promise of Qatar to invest 15 billion dollars in the Turkish economy.


As mentioned above, the press conference of the Turkish finance minister can support the lira, but it can lead to a resumption of its decline if Berat Albayrak does not talk about key issues that worry many investors.


A number of experts are waiting for more resolute measures from the authorities of Turkey. It is expected that in the near future, the Central Bank of the country will raise rates to curb inflation and the government will prepare reforms aimed at a serious decline in the share of borrowed funds in the private sector. It is also expected that Turkey can apply for financial assistance to its partners, which will allow executing short-term debt obligations of banks.


The British pound only strengthened slightly against the US dollar, and then declined again after the release of UK retail sales data, which in July this year resumed their growth. This is a very bad "call" for traders who expect a corrective pair growth in the near future.


As noted in the report, the increase in sales was provided by food and beverages during the World Cup. According to the National Bureau of Statistics, retail sales in the UK increased by 0.7% compared with June, and higher than increased by 3.5% compared to July last year. Economists had expected sales growth of 0.2%.


As for the technical picture of the GBP/USD pair, demand for the pound will remain as long as the trade is above the 1.2660 support, but a return to the intermediate resistance 1.2735 is required to increase the upward correction, the breakthrough will open the direct course to the weekly highs of 1.2825 and 1.2890. While the breakthrough to 1.2660 will hit the pound towards the lows of 1.2570 and 1.2500.





* The presented market analysis is informative and does not constitute a guide to the transaction.




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Malaysia's GDP Growth Slows In Q2



Malaysia's economic growth slowed to the weakest in more than a year in the second quarter, data from the Department of Statistics showed Friday.


Gross domestic product advanced 4.5 percent year-on-year, slower than the 5.4 percent expansion seen in the first quarter. A similar weaker growth was last seen in the fourth quarter of 2016.


On a quarterly basis, GDP climbed 0.3 percent versus 1.4 percent growth a quarter ago.


The production-side breakdown of GDP showed that service sector sustained 6.5 percent annual growth. Manufacturing grew moderately by 4.9 percent. At the same time, the expansion in construction slowed to 4.7 percent.


For the first half of 2018, Malaysia's GDP grew 4.9 percent from the same period of last year.


Another report from statistical office showed that Malaysia's current account surplus narrowed to MYR 3.9 billion from MYR 15.0 billion in the previous quarter.


This was the lowest since the second quarter of 2016. The lower surplus was largely attributable to the lower net exports of goods.


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Thailand GDP On Tap For Monday





Thailand will on Monday release Q2 numbers for gross domestic product, highlighting a light day for Asia-Pacific economic activity.


GDP is expected to gain 1.0 percent on quarter and 4.5 percent on year, slowing from 2.0 percent on quarter and 4.8 percent on year in the three months prior.


Singapore will see Q2 figures for wholesale sales; in the first quarter, sales were up 5.7 percent on quarter and 6.6 percent on year.


Japan will provide July data for convenience store sales; in June, sales advanced 1.1 percent on year.


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Japan All Industry Activity Falls As Expected In June





Japan's all industry activity decreased in June, in line with expectations, data from the Ministry of Economy, Trade and Industry showed Wednesday.


The all industry activity index dropped 0.8 percent month-over-month in June, reversing a 0.1 percent increase in May.


Industrial production contracted 1.8 percent over the month and construction activity index slid by 2.5 percent. The tertiary activity registered a fall of 0.5 percent.


On a yearly basis, all industry activity growth slowed notably to 0.2 percent in June from 1.6 percent in the prior month.


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Japan Manufacturing Sector Picks Up Steam In August - Nikkei



The manufacturing sector in Japan continued to expand in August, and at a faster rate, the latest survey from Nikkei revealed on Thursday with a manufacturing PMI score of 52.5.


That's up from 52.3 in July, and it moves farther above the boom-or-bust line of 50 that separates expansion from contraction.


Individually, input and output price inflation climbed to multi-year highs, while overall demand improved - although export orders failed to rise for a third straight month.


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New Zealand Trade Deficit Biggest Since 2009





New Zealand logged its biggest annual trade deficit in nine years on higher imports, data from Statistics New Zealand showed Friday.


The annual trade deficit for the year ended July 2018 was NZ$4.4 billion, the widest annual deficit since March 2009.


Annual imports rose NZ$6.9 billion or 13 percent from last year to NZ$60.7 billion. At the same time, annual exports totaled NZ$56.2 billion, up NZ$5.7 billion or 11 percent on a year earlier.


"The rise in imports in the past year reflect large rises in both imports of petroleum and products, and in mechanical machinery and equipment," international statistics manager Tehseen Islam said. "Exports of dairy and meat products led the exports rise."


In July alone, the trade balance showed a deficit of NZ$143 million compared to a surplus of NZ$92 million a year ago.


Imports advanced 21 percent annually to NZ$5.5 billion, this was the second highest imports value ever. Exports rose 16 percent to NZ$5.3 billion.


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South Korea Consumer Confidence Weakens Further



South Korea's consumer confidence weakened for the third straight month in August, survey data from Bank of Korea showed Tuesday.


The consumer sentiment index dropped to 99.2 in August from 101.0 in July.


Consumer sentiment regarding current living standards was 2.0 points down from the preceding month at 89, while that concerning their future outlook was unchanged at 97.


Consumer sentiment as to future household income was 1.0 point lower than in the month before at 98, and that concerning their future spending one point higher at 106.


The index measuring current domestic economic conditions slid to 70 from 77 and that regarding future domestic economic conditions weakened from 87 to 82.


The expected inflation rate over the following year was 2.7 percent.


The survey was conducted among 2,200 households between August 13 and 20.


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