China has released a number of economic data points over the weekend. On Saturday night they reported that consumer prices rose 0.6 percent higher during August and 2.0 percent year-over-year. In contrast producer prices fell -0.5 percent during August and -3.5 percent on an annual basis. This means higher profit margins for Chinese retailers. Producers are also enjoyed improved margins with raw and production materials prices down -4.1 and -4.6 percent, respectively.
I don’t think this data will have much impact on the stock market this week as it remains firmly focused on whether central banks are going to blow more air into the bubble. In my view they will not as it makes no sense but unless they make an explicit statement to that effect the market will find a way to make it a yes.
All times US Eastern Standard Time.
|Today’s Global Economic Calendar|
|01:30 AM||China: Industrial Production||Up 0.69% MoM & 8.9% YoY|
|01:30 AM||China: Retail Sales||Up 1.28% MoM & 13.2% YoY|
|07:50 PM||Japan: Gross Domestic Product (GDP)||Up 0.2% QoQ & 0.7% Annualized|
|09:30 PM||Australia: Home Loans|
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