Global Economic – The global economy is the worldwide system of trade, production, and finance that connects countries. It involves the exchange of goods, services, and money across borders, driven by businesses, governments, and consumers. This system shapes jobs, wealth, and growth everywhere.
China’s consumer inflation accelerated to a four-month high, as consumers paid more for food and fuel, official data showed Thursday.
The consumer price index increased 2.1% in July from a year earlier, compared with a 1.9% gain in June, the National Bureau of Statistics said.
Gold Silver Reports (GSR) – It seems that the Bloomberg story here implies that the UK wants to aim for a later deadline in Brexit talks in hopes that the EU will be so preoccupied with the prospect of Trump disrupting the G-20 summit that they will want to a Brexit deal wrapped up.
✅ RBA board sees no strong case for near-term rate move
✅ Says next rate move likely to be up if economy evolves as expected
✅ Timing of move depends on unemployment, inflation moving to middle of target range
✅ Says natural for rates to eventually return to more “normal” levels
Overview: Words
✅ The Pound declines further after more Brexit “no deal” political commentary
✅ Higher CNY fix yesterday sees AUD back below 0.74
✅ Still a healthy serving of geopolitics being served up with side orders of words; not only US/China, but Italy’s budget and new US Iran sanctions announced (not oil yet)
✅ RBA today; to hold to their outlook but issues clouding the outlook
Gold Silver Reports (GSR) – The theme this year is on “Changing Market Structure and Implications for Monetary Policy”
✅ It will be attended by the elite of the global central banking world and various other big wigs (I think my invitation might have got lost in the mail)
✅ Usually the head of the Fed, the ECB and BOJ attend, along with BoE and so forth.
Gold Silver Reports (GSR) – The Reserve Bank of Australia (RBA) and the Reserve Bank of New Zealand (RBNZ) both meet this week
✅ RBA on Tuesday 6 August 2018 (statement at 0130GMT)
✅ RBNZ on Thursday 9 August (statement on Wednesday 8 August at 2100GMT)
June exports were $213.8 billion, $1.5 billion less than May exports. June imports were $260.2 billion, $1.6 billion more than May imports.
The June increase in the goods and services deficit reflected an increase in the goods deficit
of $3.1 billion to $68.8 billion and a decrease in the services surplus of less than $0.1 billion to $22.5 billion.