Japanese and Australian data the focus on the calendar in Asia today
2301GMT - UK - BRC like for like sales results for July
- expected +0.9% y/y, prior +1.2% y/y
2330GMT - Australia - weekly consumer sentiment from ANZ / Roy Morgan
- prior a big jump to 118.4
2350GMT - Japan
BoP Current Account Balance for June:
- expected ¥ 860.5B, prior ¥ 1653.9B
BoP Current Account Adjusted:
- expected ¥ 1502.9B, prior ¥ 1400.9B
Trade Balance BoP Basis:
- expected ¥ 571.5B, prior ¥ -115.1B
Bank Lending excluding trusts July, y/y: (This data is for outstanding loans & outstanding commercial paper at Japan's four main categories of banks including the credit union shinkins)
- expected 3.3%, prior 3.3%
Bank Lending including trusts y/y:
- prior 3.3%
0130GMT - Australia - National Australia Bank Business Survey for July
- National Australia Bank business confidence, prior was 9
- National Australia Bank business conditions, prior was 15
This will be a focus today in Australia. The survey for June showed the continuing divergence between the household and business sectors. Business doing better. Having said this though:
- There have been some signs of improvement for retail (better than expected retail sales)
- & employment growth
Still weighing on consumers:
- Ongoing slack in the labour market (keeping wages growth subdued)
- Still record levels of household debt
June's business conditions was the highest since the GFC and it seems these lofty levels will be sustained. Something to watch for today.
