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The day ahead and further key events - Rabobank

FXStreet (Guatemala) - Analysts at Rabobank explained the key events coming up.

Key Quotes:

“We’ve just had the Aussie services PMI (sub-50, but with the AUD where it is no surprise). Next up it is the Chinese services PMI (official version), which was 54.2 in July: then we get the HSBC version of the same, which was 50 in July. Bulls and bears can take their pick which one they like best, which is nice of China. We then get the solitary Japan services PMI, also only just over 50 in July. India also has its services PMI today”.

“We then have Q2 Aussie GDP (already partly served to us julienne fashion), which is seen at +0.4% QoQ and +3.0% YoY – but it all looks downhill in H2 from there. RBA Governor Stevens then speaks in Adelaide: will we get any more colour on the last statement, which suggested the same?”

“In Europe we get a slew of final services PMIs (today is basically a case of “Are you being served?”) ahead of Eurozone retail sales for July, seen -0.3% MoM and 0.9% YoY (not figures supporting China’s recent export surge to the bloc: are R&D spending included in export data too now?)”.

“The US has factory orders, which are seen up a phenomenal 11.0% MoM after the recent durable goods leap. It’s all planes, as we already know, but it still means strong growth near-term anyway”.

“We also get the Fed’s Beige Book, where we get to ascertain just how strong this upswing in US activity is recorded as being by the regional Feds”.

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