Economic calendar due from Asia today – Japan and Australia capex, China, BOJ

A very active data
and news flow agenda coming up in the Asian timezone today

2100 GMT — New Zealand — ANZ Job Ads for February

  • January was +3.1%
  • Done, dusted: New Zealand — ANZ Job Ads for February: -1.2% m/m (prior was +3.1%)

2145 GMT — New Zealand — Q4 terms of trade

  • expected +0.5% q/q, prior +0.7% q/q (to a new all time high on better export commodity prices and lower prices for imports … win-win!)

2200 GMT —
Australia manufacturing PMI for February — the CBA / Markit
Manufacturing PMI

  • prior 55.4

2230 GMT — Another
Australian manufacturing PMI for February — the Australian Industry
Group performance of Manufacturing Index

  • prior was 58.7

2300 GMT —
Australia — CoreLogic house prices for February

  • prior -0.5% m/m

2350 — Japan —
International securities flows for the week ended February 23

2350 — Japan —
Q4 Capex

  • Capital Spending y/y for Q4, expected is +3.0%, prior was +4.2%
  • Capital Spending excluding software y/y for Q4, expected is +2.7%, prior was +4.3%
  • Company profits for Q4, prior was +5.5%
  • Company sales for
    Q4, prior was +4.8%

There are expectations of higher business investment particularly in
service industries to address labour shortages, while strong exports
argue for better capex at manufacturers too. The data today is for
the October — December quarter, prior to the big surge in the yen,
this may be a negative for capex in Q1 of 2018 but not in today’s
data … we’ll see.

0030 GMT —
Australia — Q4 capex 

  • The Private Capital
    Expenditure survey from the Australian Bureau of Statistics
    for the
    October — December quarter.

I posted a preview
of this yesterday, here: 

  • Thursday — Q4 capex preview

and will have more
to come on this separately

0030 GMT — Japan —
Markit / Nikkei Manufacturing PMI for February (final)

  • The flash result is here from last week, it showed a slowing, coming in at 54.0 from January’s 54.8.
  • Output and new
    orders both grew, but at their slowest pace since October 2017, while
    employment growth accelerated to an 11-year high.

0130 GMT — Bank of Japan policy board member Goushi Kataoka
(at a meeting with business leaders in Okayama). Kataoka
has been a dissenter at BOJ meetings, calling for even more easing
efforts to accelerate movement towards the bank’s 2% inflation

0145 GMT — China
(private survey) manufacturing PMI

Caixin / Markit
Manufacturing PMI

  • expected 51.3, prior

Yesterday we got the
official PMIs:

  • China Feb. PMI: Manufacturing 50.3 (expected 55.1)
  • China (Feb.) Services PMI: 54.4 (expected 55.0)I

Note the surveys for
the official PMIs are different surveys to this private PMI. The
Caixin/Markit Manufacturing PMI tends to focus more on small and
mid-sized Chinese firms while the official PMIs include more larger,
state-backed firms.

There is some data
due later in the session from Japan — consumer confidence, vehicle
sales and such.

And that, ladies and
gentlemen is that for the first day of the month here in Asia. 

Article Source

Добавить комментарий