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The week ahead, w/c 8 April 2019

Chris Scicluna
Emily Nicol
Mantas Vanagas

Despite a supportive US labour market report on Friday, most Asian equity markets slipped back today while the Japanese dataflow brought several downbeat economic sentiment surveys. Looking ahead, the key day is Wednesday, with a number of top-tier data releases, the altest ECB policy announcement and another all-important EU Summit on Brexit. 

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Morning comment: Japanese spending & wages, German IP & Brexit flextension

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • With market sentiment supported by US-China trade hopes, Japanese equities overlooked some disappointing wage and spending data. In Europe, the mood might also be lifted somewhat by a better German IP report, as well as reports that EU President Tusk is set to propose a Brexit 'flextension'. 

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Morning comment: German orders, ECB account & UK car registrations

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • Whiile Chinese equities were again supported by positive trade deal headlines, European equities started the day on the backfoot after a disappoitning German orders release. Attention later today will turn to the ECB's account, while Brexit talks will be the focus in the UK. 

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Morning comment: BoJ OG, Aussie retail sales & May's U-turn

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • Market sentiment has received a boost from May's Brexit U-turn and further reports of progress on the US-China trade front. While the latest Aussie retail and trade data were upbeat too, the Chinese and Japanese services PMIs were a mixed bag, although the BoJ's updated output gap estimate supported its policy narrative.

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Morning comment: Brexit shambles, Tankan prices & RBA policy

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • After last night's further Brexit fiasco in the House of Commons, the news from the Asia-Pacific was more prosaic, with the BoJ Tankan of firms' price expectations predictably suggesting a slight softening, while the RBA tweaked slightly its policy statement to give itself some wriggle room ahead as the economic data evolve. 

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