its a light day coming up from Asia after a busy post-FOMC statement period.
Here is what's on the data calendar:
2350GMT - Japan - International securities flows for the week
0130GMT - Australia - Q2 Import and Export Price Indexes
- Imports, expected +0.7% q/q, prior +1.2%
- Exports expected -5.5% q/q, prior +9.4%
0130GMT - China - Industrial profits for June
- prior +16.7% y/y
- If you are waiting around for this data, be patient - it came out a bit after scheduled time last month.
- As an early potential heads up to today's data, China's State-owned enterprises (SOEs) posted profit growth (for the January-June period) of up 24.3% y/y (Ministry of Finance data) - coal, petroleum and petrochemical, and transport sectors were strong performers.
- A focus on this data will be on operating costs - these have been moving higher for 3 consecutive months
- AUD traders watch China data closely, if this shows continued stabilisation of the economy there it should be a supportive factor for China proxies such as the AUD.
