EUROPEAN INFLATION: Final German July Data Sees Lower Airfares, Insurance [1/2]

Aug-13 13:18

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German final July HICP was unrevised from the flash readings at 1.8% Y/Y (2.0% prior) and 0.4% M/M. ...

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CANADA DATA: May Wholesales Unexpectedly Rise +0.1% On Household Goods & Autos

Jul-14 13:14
  • Wholesale sales ex-petroleum and grains +0.1% MOM in May, above StatsCan's advance estimate -0.4%.
  • Gains in five of seven sectors. Personal and household goods +3.5% after three prior declines, autos +2.2%.
  • Special survey found: "The share of respondents indicating that the ongoing trade issues had an impact on their businesses fell from 43.6% in April to 36.9% in May."
  • Inventories +0.8% after -0.2% in prior month.
  • Wholesales +1.8% YOY.
  • Report follows Friday's big job gain that pushed down the odds the BOC will cut rates at the July 30 meeting.

OIL: London Morning Rally Fading

Jul-14 13:10

Our commodities team notes that the earlier move higher in oil has almost completely reversed having lacked any real clear driver. The market still awaits any news from U.S. President Trump about potential Russia sanctions as speculation grows around his “major announcement”.

SONIA OPTIONS: 0NU5 96.80/97.10 1x1.5 Call Spread Lifted

Jul-14 13:08

0NU5 96.80/97.10 1x1.5 call spread paper paid 4 on 10K.