EXECUTIVE SUMMARY:
UK (MNI): Truss Odds-On Favourite As Voting Starts In Conservative Leadership Contest
Betting markets continue to show Foreign Secretary Liz Truss as the odds-on favourite to win the Conservative leadership contest and become the next UK PM. Data from Smarkets gives Truss a 90.9% implied probability of winning the contest, with former Chancellor Rishi Sunak sitting on an implied probability of just 9.1%.
US-CHINA (MNI): Singapore PM-US Should Strive For 'Stable' Relations w/China
Singaporean Foreign Ministry issues presser stating that at a meeting between Speaker of the US House of Representatives Nancy Pelosi (D-CA) and Singaporean Prime Minister Lee Hsien Loong, the latter "highlighted the importance of stable US-China relations for regional peace and security".
With the first leg of the Congressional Delegation (CODEL) trip led by Pelosi underway, it remains unclear whether the group will visit Taiwan. This would be the first visit to Taiwan by a House speaker since then-Speaker Newt Gingrich's brief visit in 1997.
US-CHINA (MNI): China has warned of a 'military response' should the visit go ahead
Liu Tin-ting at Taiwan's TVBS tweets "From my sources, Speaker Pelosi is arriving in Taipei tomorrow night." In a phone call last week, Chinese President Xi Jinping warned US President Joe Biden on any US interference in Taiwan, with the Chinese Foreign Ministry quoting Xi as saying that "Those who play with fire will perish by it...It is hoped that the U.S. will be clear-eyed about this."
RBA (MNI): Lower Inflation Print Could Limit RBA Hike
The Reserve Bank of Australia board meets this week with expectations of a fourth interest rate rise in as many months, although lower than expected inflation data last week could see the central bank stop short of a bigger 75 basis point hike.
RATINGS (MNI): Sovereign rating reviews of note from after-hours on Friday include:
GLOBAL TRADE: The first ship to export Ukrainian grain since an agreement was reached for the safe transit of vessels may depart as soon as Monday, a Turkish official said. More than a week after a deal was reached that aimed at releasing millions of tons of Ukrainian grain through three Black Sea ports, no ships have sailed. (BBG)
GERMANY JUN SA RETAIL SALES -1.6% M/M, -8.8% Y/Y
Date | GMT/Local | Impact | Flag | Country | Event |
01/08/2022 | 1345/0945 | *** | ![]() | US | IHS Markit Manufacturing Index (final) |
01/08/2022 | 1400/1000 | *** | ![]() | US | ISM Manufacturing Index |
01/08/2022 | 1400/1000 | * | ![]() | US | Construction Spending |
01/08/2022 | 1530/1130 | * | ![]() | US | US Treasury Auction Result for 13 Week Bill |
01/08/2022 | 1530/1130 | * | ![]() | US | US Treasury Auction Result for 26 Week Bill |
01/08/2022 | 1900/1500 | ![]() | US | Treasury Marketable Borrowing Estimates | |
02/08/2022 | 0130/1130 | * | ![]() | AU | Building Approvals |
02/08/2022 | 0130/1130 | ** | ![]() | AU | Lending Finance Details |
02/08/2022 | 0430/1430 | *** | ![]() | AU | RBA Rate Decision |
02/08/2022 | 0600/0700 | * | ![]() | UK | Nationwide House Price Index |
02/08/2022 | 0900/1000 | ** | ![]() | UK | Gilt Outright Auction Result |
02/08/2022 | - | *** | ![]() | US | Domestic-Made Vehicle Sales |
02/08/2022 | 1255/0855 | ** | ![]() | US | Redbook Retail Sales Index |
02/08/2022 | 1400/1000 | ![]() | US | Chicago Fed's Charles Evans | |
02/08/2022 | 1400/1000 | ** | ![]() | US | housing vacancies |
02/08/2022 | 1400/1000 | ** | ![]() | US | JOLTS jobs opening level |
02/08/2022 | 1400/1000 | ** | ![]() | US | JOLTS quits Rate |
02/08/2022 | 1700/1300 | ![]() | US | Cleveland Fed's Loretta Mester | |
02/08/2022 | 2245/1845 | ![]() | US | St. Louis Fed's James Bullard |