Economic data due from Asia: Japan, Australia capex; BOJ, Fed; China - big day coming

It"s a big day on the economic calendar in Asia today, along with central bank activity

2245GMT - New Zealand - Terms of Trade Index for Q1

• expected +3.9% q/q, prior +5.7%

2330GMT - Australia manufacturing PMI

• The Australian Industry Group Performance of Manufacturing Index for May


• the prior was 59.2 for its seventh consecutive month of expansion & the strongest monthly result since February (before that since May 2002)

2350GMT - Japan - capex for Q1

• Capital Spending y/y for Q1, expected is +4.0%, prior was +3.8%


• Capital Spending excluding software y/y for Q1, expected is +4.1%, prior was +3.3%


• Company profits Q1, prior was +16.9%


• Company sales Q1, prior was +2.0%

Also at 2350GMT,

• International Transactions in Securities data from Japan"s Ministry of Finance, for the week ended May 26

0000GMT - Australia - CoreLogic house prices for May

0010GMT - Federal Reserve San Francisco head John Williams is speaking in Seoul, with a news conference following

 

0030GMT - Japan - Nikkei / Markit Manufacturing PMI for May (final)

• the "flash" for May was 52.0 , with the prior at 52.7


• If confirmed May will be 6 month low


• Noteworthy detail in the flash report was that the Output Index showed its slowest growth for six months and that job creation was at its weakest since November of 2016

0130GMT - Australia - Private New Capital Expenditure and Expected Expenditure, for the March quarter of 2017

AKA, the Q1 Capex report

• The "headline" is expected to be +0.5%, previous was -2.1%


• While the headline is an immediate focus, of equal of not more) important are the figures for investment in "Machinery, plant and equipment" and the "second estimate" for 2017/18 investment


• Ill have more on this in a preview of this report separately

0130GMT - Australia - Retail sales for April. The capex data is a focus, but this is of at least equal importance and focus.

• expected +0.3% m/m


• prior -0.1%


• Yesterday we got the private sector (NAB) survey for retail, more detail here, but in brief if its any guide to today"s retail sales its not gonna be strong!

0130GMT - Bank of Japan monetary policy board member Yutaka Harada is speaking, at a meeting with business leaders in Gifu

0145GMT - China - Caixin / Markit Manufacturing PMI for May

• expected 50.1


• prior 50.3


• This is a privately conducted survey


• Yesterday we got the official PMis, manufacturing, services. Both were a bit more positive than had been expected from earlier indications

Bank of Japan monetary policy board member Yutaka Harada, speaking at 0130GMT. No tie? Maybe he wants to be Greek PM? 

Economic data due from Asia: Japan, Australia capex; BOJ, Fed; China - big day coming
Economic data due from Asia: Japan, Australia capex; BOJ, Fed; China - big day coming
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