Reply To: Traders Market Weekly: The Fed, Weed and Guns


Japan’s Prime Minister Kishida will reportedly reshuffle his cabinet in early September.
South Korea’s POSCO Holdings will reportedly lower stainless steel prices in August due to a lower cost of nickel. South Korea’s exports through the first 20 days of July were up 14.5% yr/yr with chip exports increasing 13.2%.
Local governments in China are expected to help developers resume projects that have been delayed.
The Bank of Japan made no changes to its policy stance. The central bank lowered its forecast for Japan’s 2022 GDP growth to 2.4% from 2.9% while the inflation forecast was raised to 1.3% from 0.9%.
Japan’s June trade deficit JPY1.38 trln (expected deficit of JPY1.51 trln; last deficit of JPY2.39 trln). June Imports 46.1% yr/yr (expected 45.7%; last 48.9%) and Exports 19.4% yr/yr (expected 17.5%; last 15.8%)
Hong Kong’s June CPI 1.8% yr/yr (expected 1.6%; last 1.2%)
Australia’s NAB Quarterly Business Confidence 5 (last 15). June HIA New Home Sales 1.9% m/m (last -1.2%)
New Zealand’s June trade deficit NZD701 mln (last surplus of NZD195 mln)