Quick Overview

• US Initial Jobless Claims out at 319K versus 315K expected.
  

• The U.S. department of Commerce, announced that total June exports of $120.7 billion and imports of $185.5 billion resulted in a goods and services deficit of $64.8 billion, $0.2 billion less than the $65.0 billion in May. This is the fifth largest deficit on record.
  
  

• China's producer price index rose 3.6% YoY in July
  
  

• MoM Australia's unemployment rate fell to 4.8% in July.
  
  

• Canada's trade surplus grew by 14.6% in June to 4.7 bln cd, compared with 4.1 bln in May.
  
  

• South Korea today unexpectedly raised its benchmark rate by 25 bp to a 5-year high of 4.5% in response to inflation fear.
  
  

• China's July trade surplus rose to another record high of $14.6 billion, exports up +22.6% YoY and imports up +19.7% YoY.
  
  

• Japan's July producer price index rose 3.4% YoY -- the strongest gain in 25 years.
  
  

• YoY Peru's trade surplus widened to $767 million in June from $479.
  
  

• The unemployment rate in New Zealand improved from 3.9% to a record low 3.6% in the second quarter.
  

• The DoE said that underground supplies of natural gas were down 12 billion cubic feet to 2.763 trillion cubic feet. YoY supplies are up 12%.