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.
For Thursday’s FX options expiry, I posted here earlier: ✅ Forex options expiries Thursday 2 August 2018 I know some like an early heads up to the chunky ones, thse for Friday August 3 ✅ EUR/USD 1.1800 EUR 1.7bn ✅ USD/JPY 112.00 USD 1.7bn ✅ USD/CAD 1.2900 USD 1.0bn
BoE Monetary Policy Committee (MPC) meeting is Thursday 2 August 2018
✅ Preview of the Bank of England meeting (Super) Thursday 2 August 2018
✅ Are you ready for Super Thursday from the UK? BoE preview (RBC) (MS, Nomura)
✅ Early heads up preview for the Bank of England meeting (TD, Barclays, BNP Paribas)
✅ expected surplus 900m AUD
✅ previous was 827m AUD surplus
✅ Exports +3.0% m/m (prior +4.0%)
✅ Imports -1.0%m/m (prior +3.0%)