Two focal points today, Bank of Japan Governor Ueda speaking and another PMI from China.
The December (18-19) Bank of Japan meeting is very much ‘live’, a rate hike potential is there:
- investingLive Asia-Pacific FX news wrap: Upbeat data from Japan, sticky inflation too
- Tokyo inflation stays hot as yen weakens, pushing BOJ closer to a rate hike
- BOJ board member Asahi Noguchi is not yet convinced
Bank of Japan Governor Ueda is speaking today in Japan. Its billed as speaking with business leaders. There will be Q&A following. Stay tuned!
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Also, we get a PMI from China. The private survey manufacturing PMI from Rating Dog. Definitely the best named PMI out there!
The RatingDog China General Manufacturing PMI, compiled by S&P Global
Over the weekend we had the official PMIs from China. Disappointing:
- China’s factory and service PMIs contract again as holiday boost fades, recovery softens
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I’ve posted on this before, but ICYMI. China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Rating Dog China PMI published by Markit / S&P Global.
- The official PMI survey covers large and state-owned companies, while the Rating Dog PMI survey covers more small and medium-sized enterprises. As a result, the Rating Dog PMI is considered to be a more reliable indicator of the performance of China’s private sector.
- Another difference between the two surveys is their methodology. The Rating Dog PMI survey uses a broader sample of companies than the official survey. Despite these differences, the two surveys often provide similar readings on China’s manufacturing sector.
This snapshot from the investingLive economic data calendar.
- The times in the left-most column are GMT.
- The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
- I’ve noted data for New Zealand and Australia with text as the similarity of the little flags can sometimes be confusing.
This article was written by Eamonn Sheridan at investinglive.com.
