NZD: NZD/USD - Slips Lower Testing RBNZ Lows As The USD Correction Extends
Oct-09 21:15
The NZD/USD had a range overnight of 0.5734 - 0.5797, Asia is trading around 0.5750. US equities aga...
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ASIA: Coming Up In Asia Pac Markets On Wednesday
Sep-09 20:58
| 2345BST | 0645HKT | 0845AEST | New Zealand July Net Migration |
| 0000BST | 0700HKT | 0900AEST | South Korea August Unemployment Rate |
| 0200BST | 0900HKT | 1100AEST | Australia 2031 Bond Sale |
| 0230BST | 0930HKT | 1130AEST | China August Inflation |
| 0400BST | 1100HKT | 1300AEST | South Korea August Bank Lending To Households |
| 0435BST | 1135HKT | 1335AEST | Japan 5yr Debt Sale |
Source: Bloomberg Finance L.P/MNI
TARIFFS: US Supreme Court To Hear Tariffs Case Starting In November
Sep-09 20:49
Wires reporting that the US Supreme Court will hear arguments as soon as early November on the legality of the Trump administration's tariffs imposed this year which were defeated in lower courts. This unusually quick schedule could mean a decision is reached by year-end.
- Per Bloomberg: "The US Supreme Court said it will decide whether the bulk of President Donald Trump’s tariffs are legal, agreeing to quickly review a challenge to his signature economic policy in a case with worldwide financial and political implications. Heeding calls from both sides, the justices said in an order on Tuesday that they will hear arguments in early November, an unusually aggressive schedule that suggests the court will try to resolve the case quickly. The tariffs remain in place for now, even though a federal appeals court ruled that Trump exceeded his authority by imposing them."
- Per WSJ: "The court in a brief order said it would hear the case in early November, a schedule that could put it on course to deliver a ruling before the end of the year."
US INFLATION: MNI US CPI Preview: Data To Shape Fed's Tone On Rate Cuts
Sep-09 20:43
We've just published our inflation preview for this week's CPI and PPI data - Download Full Report Here
- August inflation data lands this week, with PPI out first on Wednesday September 10 at 0830ET, followed 24 hours later by the CPI report. Consensus (Bloomberg median) is for core CPI to come in at 0.3% M/M rounded in August, same as July, with the MNI unrounded median looking for 0.32% with a slight lean in the risks toward a rounding-up to 0.4%.
- For PPI, current Bloomberg consensus is for a cooling after July’s hot print, with M/M final demand PPI at 0.3% (0.9% prior) and “core” (ex-food/energy/trade) also at 0.3% (0.6% prior).
