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Singapore Inflation Data Due On Monday





Singapore is on Monday scheduled to release October figures for consumer prices, highlighting a light day for Asia-Pacific economic activity.


In September, consumer prices were flat on month and up 0.5 percent on year.


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New Zealand Retail Sales Data Due On Tuesday





New Zealand will on Tuesday release Q3 numbers for retail sales, setting the pace for a modest day in Asia-Pacific economic activity. Sales are expected to add 0.5 percent on quarter after rising 0.2 percent in the three months prior.


Japan will see October figures for producer prices, with forecasts suggesting an increase of 1.8 percent on year - up from 0.5 percent in September.


Hong Kong will release October numbers for imports, exports and trade balance. In September, imports were worth HKD379.33 billion and exports were at HKD347.69 billion for a trade deficit of HKD31.64 billion.


Singapore will provide October figures for industrial production; in September, production was up 3.7 percent on month and 0.1 percent on year.


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New Zealand Has NZ$1.0 Billion Trade Deficit In October





New Zealand had a merchandise trade deficit of NZ$1.0 billion in October, Statistics New Zealand said on Wednesday.


That was in line with expectations following the NZ$1.242 billion shortfall in September.


Imports were down 1.4 percent on year to NZ$6.0 billion - again matching forecasts after showing NZ$5.71 billion in the previous month.


Exports climbed an annual 4.3 percent to NZ$5.0 billion, in line with expectations and up from NZ$4.47 billion a month earlier.


The annual trade deficit was NZ$5.0 billion in October 2019, down from NZ$5.8 billion in the year ended October 2018.


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Australia Capex Slips 0.2% In Q3





Private capital expenditure in Australia was down a seasonally adjusted 0.2 percent on quarter in the third quarter of 2019, the Australian Bureau of Statistics said on Thursday - worth A$29.413 billion.


That missed expectations for a flat reading following the 0.6 percent drop in the three months prior.


On a yearly basis, capex sank 1.3 percent.


Capex for buildings and structures rose 2.7 percent on quarter and fell 0.3 percent on year to A$15.853 billion, while capex for equipment, plant and machinery sank 3.5 percent on quarter and 2.4 percent on year to A$13.560 billion.


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UK GfK Consumer Confidence Remains Stable In November





UK consumer sentiment remained unchanged in November, survey results from the market research group GfK showed Friday.


The consumer sentiment index held steady at -14. The score matched economists' expectations.


"In the face of Brexit and election uncertainty, consumers are clearly in a 'wait-and-see' mode," Joe Staton, client strategy director at GfK, said.


"The general election is potentially an opportunity to move us out of the doldrums - but for this to happen there must be a clear result," Staton added. "A hung parliament could be very damaging for consumer confidence and would surely deepen the obvious malaise that we see month after month."


Among sub-indices, the index measuring changes in personal finances over the last twelve months decreased one point to zero. The forecast for personal finances was unchanged at +1 in November.


The measure for the past general economic situation of the country fell one point to -34. Expectations for the general economic situation over the next 12 months gained three points to -34.


The major purchase index dropped one point to zero in November. Likewise, the savings index decreased three points to +18.


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Ireland Manufacturing Sector Deteriorates In November





Ireland's manufacturing sector contracted in November, survey data from IHS Markit showed on Monday.


The seasonally adjusted AIB factory Purchasing Managers' Index, or PMI, fell to 49.7 in November from 50.7 in October. However, any reading below 50 indicates contraction in the sector.


Inflows of total new business increased in November but the rate of expansion eased slightly from the previous month, while export sales declined further.


Employment fell for the first time since September 2016 and stocks of finished goods increased for the sixth month in a row.


Purchasing activity fell in November for the sixth time in the past seven months amid a decline in per-production inventories.


Backlogs decreased further in November, with the rate of backlog depletion quickened from October.


Input price inflation was the sharpest in seven months, while the rate of output charge inflation eased in November.


Sentiment among manufacturers improved to the highest level in five months in November, the survey showed.

Australia Rate Decision On Tap For Tuesday





The Reserve Bank of Australia will on Tuesday wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The central bank is widely expected to keep its benchmark lending rate unchanged at the record low 0.75 percent.


Australia also will see Q3 numbers for current account; in the three months prior, the current account surplus was A$5.9 billion.


Japan will provide November numbers for monetary base; in October, the base was up 3.1 percent on year.


Thailand will release November numbers for consumer and producer prices. In October, overall consumer prices were down 0.16 percent on month and up 0.7 percent on year, while core CPI rose 0.04 percent on month and 0.4 percent on year. Producer prices fell 0.4 percent on month and 2.5 percent on year.


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Hong Kong PMI Continues To Tumble - IHH





Hong Kong's private sector continued to contract in November, and at a faster pace, the latest survey from IHH revealed on Wednesday with a 16-year low PMI score of 38.5.


That's down from 39.3 in October and it moves further beneath the boom-or-bust line that separates expansion from contraction.


The November reading saw the sharpest decline in business activity in survey history, while the fall in new business was the sharpest since 2008. Business confidence remained close to a record low.


Political unrest continued to disrupt the functioning of businesses, according to survey respondents.


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Australia Trade Balance Data Due On Thursday





Australia will on Thursday release October numbers for trade balance and retail sales, highlighting a modest day for Asia-Pacific economic activity.


The trade balance is expected to show a surplus of A$6.50 billion, down from A$7.180 billion in September. Retail sales are called higher by 0.3 percent, up from 0.2 percent in the previous month.


New Zealand will provide Q3 numbers for the volume of all building, with forecasts suggested to show an increase of 1.0 percent on quarter following the 1.5 percent contraction in the three months prior. South Korea will see October results for current account; in September, the surplus was $66.89 billion.


The Philippines will release November numbers for consumer prices and Q3 data for unemployment. In October, inflation was up 0.2 percent on month and 0.8 percent on year, while core CPI was up 2.6 percent on year. The jobless rate in Q2 was 5.4 percent, with a participation rate of 62.1 percent.


Finally, the markets in Thailand are closed on Thursday in observance of late king Bhumibol's birthday and will re-open on Friday.


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Dollar Exhibits Weakness Against Most Rivals





The U.S. dollar was mostly subdued against major currencies on Thursday, amid a slew of economic data from across the globe and as traders awaited the outcome of the OPEC meet in Vienna.


Conflicting reports on U.S.-China trade front weighed as well on the U.S. currency.


Data from the Commerce Department showed U.S. trade deficit narrowed to $47.2 billion in October from a revised $51.1 billion in September. Economists had expected the trade deficit to narrow to $48.7 billion from the $52.5 billion originally reported for the previous month.


The lower deficit was due to a 1.7% drop in imports at $254.3 billion. Exports were down 0.2% to $207.1 billion in October.


Another report from the Commerce Department said new orders for U.S. manufactured goods increased in line with economist estimates in the month of October, rising by 0.3% after falling by a revised 0.8% in September.


Economists had expected orders to rise by 0.3% compared to the 0.6% drop originally reported for the previous month.


Orders for durable goods climbed by 0.5% compared to the previously reported 0.6% increase, while orders for non-durable goods came in unchanged.


Data from the Labor Department showed initial jobless claims slipped to 203,000 in the week ended November 30th, a decrease of 10,000 from the previous week's unrevised level of 213,000. The drop came as a surprise to economists, who had expected jobless claims to inch up to 215,000.


The dollar index opened at 97.59 and eased to a low of 97.36 a little past noon. It edged up to 97.44 subsequently but dropped to 97.39 later on, losing about 0.28%.


Against the Euro, the dollar was down at $1.1106, retreating from $1.1078.


The Eurozone economy grew as initially estimated in the third quarter, revised data from Eurostat showed. Gross domestic product grew 0.2% from the second quarter, when the economy expanded at the same rate.


On a yearly basis, GDP growth came in at 1.2%, in line with the previous estimate and the second quarter growth.


The pound sterling was stronger by more than 0.4% with a unit of sterling fetching $1.3163, as against $1.3098 earlier in the session.


Against the Japanese Yen, the dollar was stronger at 108.79, compared to previous close of 108.65 yen a dollar.


The loonie was up notably with the dollar-loonie pair at 1.3175. Canada's trade deficit narrowed to C$1.08 billion in October 2019 from an upwardly revised C$ 1.23 billion in September. Economists had expected a trade deficit of C$1.37 billion.


Against the Aussie, the dollar was gaining in strength with the pair trading at 0.6835.


The Swiss franc was up 0.1% against the dollar, with the dollar-franc pair at 0.9875.


Traders were also reacting to news that House Speaker Nancy Pelosi, D-Calif., has asked the chairmen of the House committees investigating President Donald Trump to proceed with articles of impeachment.


Pelosi accused Trump of abusing his power for his own benefit by withholding military aid from Ukraine in exchange for an announcement of an investigation into his political rival, former Vice President Joe Biden.


On the trade front, a Wall Street Journal report indicates the U.S. and China are at odds over the size of Chinese agricultural purchases.




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