As if we haven't got enough on the plate today with bat**** Chinese stocks, NZ and Aussie data

  • Keep an eye on Chinese stock markets today, and headlines pre-open

  • Economic data due from New Zealand and Australia today

... here is more to come:

2350GMT - Japan - Preliminary Industrial Production numbers for October

  • For the m/m expected is +1.8%, prior was +1.1%
  • y/y, expected is -0.9%, prior was -0.8%
  • This has been a disappointing data set for the Bank of Japan, they'd like to see better improvement. Still, it appears to me the BOJ is 'on hold' for a while to come yet. Bank of Japan Governor Kuroda is speaking today (see below) so we we'll likely get more of a clue from him.

Also at 2350GMT - Japan - October retail sales

  • m/m, expected is +0.3%, prior +0.8%
  • y/y, expected is +0.9%, prior -0.1%

Due at 0100GMT, Bank of Japan (BOJ) Governor Kuroda speaks at a meeting with business leaders in Nagoya. While Kuroda often sounds like a broken record (if you're a you're a young person who doesn't know what a record is, or maybe even a CD, ask me in the comments WTF I am talking about) its worth listening to him for any potential change in communication. At present it seems to me (and the market on the overwhelming whole) that there is no further BOJ easing on the horizon (for the next few months at least) and also no stomach for a weaker yen (what Japanese authorities want for the currency is not always what they get ... but in this case they are not jawboning it lower at present).

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Much later in the day ...

  • 0400GMT October vehicle production, prior was -2.6% y/y
  • 0500GMT October Housing starts, expected is +2.6% y/y, prior was also +2.6% y/y
  • 0500GMT October annualized housing starts, expected is +908,000, prior was +900,000
  • 0500GMT Construction orders for October, prior was +6.7% y/y