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Monday, September 2, 2024

Asia Market Movers | Recapping the two China Manufacturing PMIs for August - mixed signals

Recapping the two China Manufacturing PMIs for August - mixed signals

Over the weekend we had the official PMIs showing manufacturing contracting: China August Manufacturing PMI 49.1 (expected 49.5), Services 50.3 (expected 50.0) ICYMI - China's official August manufact... 

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Japan Q2 capex recap fuels optimism for a domestic recovery, and case for more BOJ hikes

Japanese corporate spending on plant and equipment surged in the second quarter: Japan Q2 business capex +7.4% y/y (vs. expected +9.9%, prior +6.8%) Analyst takes I'm seeing are noting the data is fue... 

China Caixin Manufacturing PMI August 2024: 50.4 (expected 50.0, prior 49.8)

Over the weekend we had the official PMIs: China August Manufacturing PMI 49.1 (expected 49.5), Services 50.3 (expected 50.0) More detail: ICYMI - China's official August manufacturing PMI fell to its... 

HSBC with two reasons the USD should strengthen

HSBC is looking for a bounce for the USD, saying that: 1. The dollar looks to have weakened excessively relative to dovish expectation for Fed rate cuts 2. Says the economy in the US does not warrant... 

Australian job ads down 2.1% m/m in August (prior -2.7%)

ANZ-Indeed Job Ads fell for the 7th consecutive month in August to be down 15.3% so far in 2024. Earlier: Australian data - Q2 Business Inventories +0.1% (expected -0.1%, prior +1.3%) Australian July... 

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September seasonals: The worst month on the calendar for the S&P 500

August was a wild ride. It's typically a quiet, summer month but it was anything but that this year as markets melted down early in the month only to post a full recovery in a remarkable turn. That's... 

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