Morning Memo: Friday, August 9, 2013

"Morning Memo" begins below this "NOTE for  NEWCOMERS" to "Morning Memo"...... Each morning, we post a short bullet-point list of noteworthy events, data, etc that find their way into the assessment of global markets.  It's far from complete and is not meant to be an exhaustive reconciliation of all things that could possibly impact stocks, bonds, currencies and commodities!  Rather, it's best viewed as a cryptic memo of "highlights", noteworthy items that took place in Asia, European and US hours.....and color-coded 'Red' for seemingly negative impact on equity markets, 'Green' for positive.
This will also serve as a useful review mechanism, as scrolling through the series of "Morning Memo" posts over time ought to summarily highlight what generally drove price action.  
We hope you find this useful and informative....and as always, that you'll share feedback!!
  8:10 a.m. ET.....

• China...CPI better than expected @ 2.7%, same as last mth and lower than forecasts.  PPI dropped 2.3% following June's 2.7% decline.
• China..Industrial Production stronger than expected.
• Asia....Markets rally on China data.  Opens room for more stimulus.
• Australia...gov't lowers GDP forecast.
• Asia markets this past week:  Nikkei down 5.9%, Australia and Hong Kong down betw 1-2%.
• European stocks rally on China data.
• UK trade deficit narrows.
• Oil..IEA warns of declining supplies from Libya and Iraq  And boosts demand estimates!  US demand, for example, is at fastest pace since '11.  Non-Opec supply, however, is expected to continue to grow.
• USD....testing support @ 81, has seen selling since mid-July, down close to 5% since then.
•  more later....

 

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