In this Issue - sinayo.co.zasinayo.co.za/wp-content/uploads/2016/06/Week-Ahead-15-19-August.pdfof a...
Transcript of In this Issue - sinayo.co.zasinayo.co.za/wp-content/uploads/2016/06/Week-Ahead-15-19-August.pdfof a...
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The concept of quantitative easing and other heterodox
policy tools had their purpose early on in the crisis, but the
continued use of these tools has decreased significantly
their benefits and are now proving to be damaging for
global financial stability. Gerardo Rodriguez, Emerging Market Allocation Fund at
Blackrock
In this Issue Weekly Wrap Up……………………………… 1
Local Company Events…..………………… 1
In the News Local Company’s…………….. 2
Offshore Company Events…………………. 4
In the news Offshore Companies…………. 4
World Economic Events……………………... 5
Conclusion…………………………………….. 14
This Week’s Highlights RBA Meeting Minutes (Tuesday)
FOMC minutes (Wednesday)
Fed Bullard Speech (Wednesday)
Fed Williams Speech Thursday)
Japanese Balance of Trade (Thursday)
Week Ahead Issue 09 15 August – 19 August
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Weekly Market Wrap up
Below is a brief synopsis of what happened in the markets in case you missed out on some key
stories and events that moved the market. The stronger than expected US job reports continued to
reverrate still during the beginning of the week. The dollar continued to weaken despite indications
of a strong economy. Crude oil followed also weekend on increases in inventories and supply.
Monday began with markets still looking to fully
discount the stronger than anticipated US non-
farm pay roll numbers. Steinhoff also announced
its acquisition of US Mattress firm for $ 2.4
Billion. Steinhoff offered $64 a share in cash,
more than double last week Friday’s $29.74
closing price. Tuesday saw a pause in the oil rally
as OPEC members are scheduled to meet next
month. BP has announced that it is looking to
sell its 50% stake in SECCO a Chinese
petrochemical Joint Venture. Gap posted smaller
than expected decline in sales. On Wednesday
Turkey and Russia amend ties that were broken
in November after the bombing of a Russian
airplane, UK and Iran were also on talks to repair
relations. Disney’s earnings topped estimates.
Thursday opened up with crude oil retreating 2%
overnight following the record high inventories
in the US at 523.6 million and Saudi Arabia
output reaching 10.67million barrels per day.
Chinese data was released on Friday.
.
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Local Company Events
This week’s company events are comparatively a bit more exciting with 39 companies reported
to release results this week. Companies
Company Name Company Ticker Date Date Type Time Type Period
JSE Ltd JSE SJ 2016/08/15 C 09:00 EC S1 2016
AngloGold Ashanti Ltd ANG SJ 2016/08/15 Confirmed 09:30 EC C2 2016
Mpact Ltd MPT SJ 2016/08/15 C 12:00 EC C2 2016
Aspen Pharmacare Holdings Ltd APN SJ 2016/08/15 14:00 SM Y 2016
AngloGold Ashanti Ltd ANG SJ 2016/08/15 C 15:00 EC S1 2016
Interwaste Holdings Ltd IWE SJ 2016/08/15 E ER S1 2016
JSE Ltd JSE SJ 2016/08/15 C ER S1 2016
AngloGold Ashanti Ltd ANG SJ 2016/08/15 C ER S1 2016
Group Five Ltd/South Africa GRF SJ 2016/08/15 C ER Y 2016
Randgold & Exploration Co Ltd RNG SJ 2016/08/15 E ER S1 2016
Bid Corp Ltd BID SJ 2016/08/15 E ER Y 2016
Curro Holdings Ltd COH SJ 2016/08/16 C ER S1 2016
Harmony Gold Mining Co Ltd HAR SJ 2016/08/17 C 07:05 ER Y 2016
Harmony Gold Mining Co Ltd HAR SJ 2016/08/17 C 07:50 EC C4 2016
Anchor Group Ltd ACG SJ 2016/08/17 C ER S1 2016
Clientele Ltd CLI SJ 2016/08/17 E ER Y 2016
Metair Investments Ltd MTA SJ 2016/08/17 C ER S1 2016
Distell Group Ltd DST SJ 2016/08/17 E ER Y 2016
Metair Investments Ltd MTA SJ 2016/08/18 C 10:00 EC S1 2016
Standard Bank Group Ltd SBK SJ 2016/08/18 C 10:00 EC S1 2016
Gold Fields Ltd GFI SJ 2016/08/18 C 16:00 EC S1 2016
Standard Bank Group Ltd SBK SJ 2016/08/18 C ER S1 2016
AdaptIT Holdings Ltd ADI SJ 2016/08/18 T ER Y 2016
Vunani Ltd VUN SJ 2016/08/18 E ER S1 2016
Exxaro Resources Ltd EXX SJ 2016/08/18 C ER S1 2016
Gold Fields Ltd GFI SJ 2016/08/18 C ER S1 2016
Truworths International Ltd TRU SJ 2016/08/19 E ER Y 2016
Ascension Properties Ltd AIA SJ 2016/08/18 E ER Y 2016
Emira Property Fund Ltd EMI SJ 2016/08/19 E ER Y 2016
Table Code EC = Earnings Call SM = Shareholders Meeting ER = Earnings Release
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In case you missed a few announcement and events or need a brief recap, below are some of the
announcement and events that have taken place in the past few weeks in relation to some of the
companies that are releasing their earnings results this coming week from August 15 to August 19
2016. This week some of the big mining companies are releasing their results and it should be of
great interest to analysts and investors alike.
AngloGold Ashanti Ltd
The globally diversified gold mining company is
releasing its results today. The gold mining sector
has shown signs of recovery this year with the
gold price rising by 26%. Major factors that
investors will be looking out for is when
company will start paying its dividend, another
important issue will be the unrest in its Obuasi
mine in Ghana. There was a significant
improvement in its cash flow which increased to
a staggering amount of $ 108 million representing
a threefold increase from the previous year’s
reporting period. Headline earnings were also
up to $159 million compared with $61 million in
the previous year.
Harmony Gold Ltd
A key issue for Harmony will be financing it’s
Golpu copper/gold project in Papua New
Guinea (one of the world’s premier new gold
regions) remains a concern for investors. The
share price closed 1.82% lower on Friday at
R60.35 per share following a release of its trading
statement. Headline Earnings per share are
expected to be within the range of 202 cents and
240 cents per share which would be 391 and 429
cents above the previous comparable period
where a 189 cents per share headline loss was
reported.
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Offshore Company Events
Earnings season in the US continues and below is a list of some of the companies that are
releasing results this week.
Company Name Company Ticker Date Date Type Type Period
JPMorgan Chase & Co JPM US 2016/08/15 Confirmed OT Cred-Card Charge Offs
Discover Financial Services DFS US 2016/08/15 Confirmed OT Cred-Card Charge Offs
Capital One Financial Corp COF US 2016/08/15 Confirmed OT Cred-Card Charge Offs
Bank of America Corp BAC US 2016/08/15 Confirmed OT Cred-Card Charge Offs
American Express Co AXP US 2016/08/15 Confirmed OT Cred-Card Charge Offs
Citigroup Inc C US 2016/08/15 Confirmed OT Cred-Card Charge Offs
Wal-Mart Stores Inc WMT US 2016/08/18 Confirmed ER Q2 2017
Wal-Mart Stores Inc WMT US 2016/08/18 Confirmed EC Q2 2017
Estee Lauder Cos Inc/The EL US 2016/08/19 Confirmed ER Q4 2016
Estee Lauder Cos Inc/The EL US 2016/08/19 Confirmed EC Q4 2016
In the news- Offshore Companies
In case you missed a few announcement and events or need a brief recap, below are some of the
announcement and events that have taken place in the past few weeks in relation to some of the
offshore companies that are releasing their earnings results this coming week from August 08 to
August 12 2016.
Credit-Card charge offs and
Delinquencies
This week we have US major banks releasing
their credit card charge offs and delinquencies.
Charge-offs are the value of loans and leases
removed from the books and charged against
loss reserves. Delinquent loans and leases are
those past due thirty days or more and still
accruing interest as well as those in nonaccrual
status.
Citizens have no control over when a debt is
charged off. That is determined by law and the
lender. Even if one has every intention of
repaying the loan, it may still be charged off. A
credit card account is usually charged off when
the customer fails to make minimum payments
for 6 months.
Given that major banks in the US will be
releasing these figures it will be interesting to see
how many citizens are behind in paying their debt
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Source: Fred Economic Research
even if they have every intention of paying their
debts. The results of this will put the FED in the
limelight yet again, with many FED speakers
speaking this week it will be interesting to see
what comments are made regarding the financial
situation of debt payers in the US.
Walmart
This week Walmart releases its 2nd quarter
results and the consensus is to beat expectations
when it reports its fiscal second-quarter 2017
results on Aug 18, earnings are expected to be in
a range of 95 cents to $1.08 per share, compared
with the prior-year quarter’s earnings of $1.08 per
share.
Last quarter, Walmart posted a positive earnings
surprise of +11.36%. One must also note that
the company has posted positive earnings
surprises 3 out of the last 4 quarters and a
negative surprise in the remaining quarter,
translating to an average positive surprise of
4.01%.
The company has not updated its fiscal 2017
guidance but stated at the annual investor day
that fiscal 2017 sales will remain flat due to the
stronger-than-anticipated negative impact of the
dollar and store closures globally. Excluding the
impact of currency and store closures, the
company expects net sales growth in a range of
3% to 4%. Currency is expected to hurt sales by
+-$12billion.
Further, Wal-Mart expects its earnings in a range
of $4.00 to $4.30 per share for the year, compared
with $4.57 per share posted in fiscal 2016. The
decline in year-over-year growth is due to higher
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wages and increased spending on e-commerce
activities. Higher wages and training costs are
expected to negatively impact earnings by $0.30
per share, while currency is expected to impact
earnings by $0.10 per share.
Though the company is making efforts to boost
its sales and regain investors’ confidence, it still
faces many headwinds, which will reduce
earnings in the near term due to large capital
intensive investments. Higher expenses, lower
margins at Wal-Mart U.S. and currency
headwinds are also expected to negatively impact
results.
World Economic Events
The table below shows the weekly calendar of economic events taking place the whole of this
week. This week the major events will be the FOMC minutes on Wednesday and the speeches
coming out of the US Federal Reserve. Figures coming out of the UK post Brexit will also be quite
directional for markets, with the slowdown in the UK expected to reverberate through into Europe.
Monday August 15 2016
Time Country Event Actual Previous Consensus Forecast
01:50 AM JP GDP Private Consumption QoQ Prel Q2 0.20% 0.7% ® 0.20%
01:50 AM JP GDP Price Index YoY Prel Q2 0.80% 0.9%
01:50 AM JP GDP Growth Rate QoQ Prel Q2 0.00% 0.5% 0.20% 0.50%
01:50 AM JP GDP Growth Annualized Prel Q2 0.20% 2.0% ® 0.70% 2%
01:50 AM JP GDP Capital Expenditure QoQ Prel Q2 -0.40% -0.7% -0.10%
01:50 AM JP GDP External Demand QoQ Prel Q2 -0.30% 0.1% ® 0.00%
04:30 AM TH GDP Growth Rate QoQ Q2 0.80% 1.0% ® 0.50% 0.30%
04:30 AM TH GDP Growth Rate YoY Q2 3.50% 3.2% 3.20% 3.00%
06:00 AM ID Balance of Trade JUL $0.59B $0.89B ® $0.8B $1.3B
06:00 AM ID Exports YoY JUL -17.02% -4.42% 0.97% 1.40%
06:00 AM ID Imports YoY JUL -11.56% -7.41% 6.18% 3.00%
06:30 AM JP Capacity Utilization MoM JUN 1.50% -2.4%
06:30 AM JP Industrial Production YoY Final JUN -1.50% -1.9% ® -1.90% -1.90%
06:30 AM JP Industrial Production MoM Final JUN 2.30% 1.9% ® 1.90% 1.90%
07:00 AM SG Retail Sales MoM JUN 1.4% -1.30%
07:00 AM SG Retail Sales YoY JUN 3.0% 1.10%
08:00 AM FI Current Account JUN €78M € 86.4M
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08:00 AM FI Inflation Rate YoY JUL 0.4% 0.30%
08:00 AM FI Inflation Rate MoM JUL 0% 0.20%
09:00 AM TR Unemployment Rate MAY 9.3% 9.20%
09:15 AM CH Producer & Import Prices MoM JUL 0.1% 0.30%
09:15 AM CH Producer & Import Prices YoY JUL -1% -1%
10:00 AM NO Balance of Trade JUL NOK7.0B NOK 8.9B
12:00 PM DE Bundesbank Monthly Report
12:00 PM IE Balance of Trade JUN €4.0B € 4.1B
12:45 PM SA Inflation Rate YoY JUL 4.1% 4.20%
02:30 PM US NY Empire State Manufacturing Index AUG 0.55 2 3.7
03:00 PM RU Industrial Production YoY JUL 1.7% 0.80% 1.30%
04:00 PM US NAHB Housing Market Index AUG 59 60 58
05:30 PM IL Inflation Rate YoY JUL -0.8% -1.00%
05:30 PM IL Inflation Rate MoM JUL 0.3% -0.10%
05:30 PM US 3-Month Bill Auction 0.285%
05:30 PM US 6-Month Bill Auction 0.395%
10:00 PM US Overall Net Capital Flows JUN $-11.0B $-59.0B
10:00 PM US Foreign Bond Investment JUN $-18.3B $-17.2B
10:00 PM US Net Long-term Tic Flows JUN $41.1B $ 39.9B
ID Car Sales YoY JUL 11.4% 23%
Tuesday August 16 2016
Time Country Event Actual Previous Consensus Forecast
03:30 AM AU RBA Meeting Minutes
03:30 AM AU New Motor Vehicle Sales MoM JUL 3.1%
03:30 AM AU New Motor Vehicle Sales YoY JUL 2.1%
08:30 AM IN WPI Inflation YoY JUL 1.62% 2.55% 1.94%
08:30 AM IN WPI Food YoY JUL 8.18%
08:30 AM IN WPI Fuel YoY JUL -3.62%
08:30 AM IN WPI Manufacturing YoY JUL 1.17%
10:30 AM GB Core Inflation Rate YoY JUL 1.4% 1.30% 1.50%
10:30 AM GB Retail Price Index MoM JUL 0.4% -0.10% 0.20%
10:30 AM GB Retail Price Index YoY JUL 1.6% 1.70% 1.70%
10:30 AM GB PPI Input MoM JUL 1.8% 1% 0.60%
10:30 AM GB PPI Input YoY JUL -0.5% 2% 0.50%
10:30 AM GB PPI Output MoM JUL 0.2% 0.20% 0.30%
10:30 AM GB Inflation Rate YoY JUL 0.5% 0.50% 0.60%
10:30 AM GB Inflation Rate MoM JUL 0.2% -0.10% 0.20%
10:30 AM GB PPI Output YoY JUL -0.4% 0% -0.10%
11:00 AM EA Balance of Trade JUN €24.6B €21.1B
11:00 AM EA ZEW Economic Sentiment Index AUG -14.7 -9.4
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11:00 AM DE ZEW Current Conditions AUG 49.8 50 50.8
11:00 AM DE ZEW Economic Sentiment Index AUG -6.8 2 1.7
11:00 AM ES 12-Month Letras Auction -0.187%
11:00 AM ES 6-Month Letras Auction -0.246%
12:00 PM IL GDP Growth Rate QoQ 1st Est Q2 0.4% 0.20%
12:00 PM IL GDP Growth Annualized 1st Est Q2 1.7% 1.50%
02:30 PM CA Manufacturing Sales MoM JUN -1% 0.90% 0.50%
02:30 PM US Building Permits JUL 1153K 1160K 1145K
02:30 PM US Building Permits MoM JUL 1.5% -0.50%
02:30 PM US Core Inflation Rate MoM JUL 0.2% 0.20% 0.40%
02:30 PM US Core Inflation Rate YoY JUL 2.3% 2.30% 2%
02:30 PM US Housing Starts JUL 1189K 1180K 1168K
02:30 PM US Housing Starts MoM JUL 4.8% -2%
02:30 PM US Inflation Rate YoY JUL 1% 1% 1%
02:30 PM US Inflation Rate MoM JUL 0.2% 0.10% 0.30%
02:55 PM US Redbook YoY 13/AUG 0.5%
02:55 PM US Redbook MoM 13/AUG -0.2%
03:00 PM FR 3-Month BTF Auction -0.583%
03:00 PM FR 12-Month BTF Auction -0.574%
03:00 PM FR 6-Month BTF Auction -0.587%
03:15 PM US Capacity Utilization JUL 75.4% 75.60% 75.50%
03:15 PM US Industrial Production YoY JUL -0.7% -0.60%
03:15 PM US Industrial Production MoM JUL 0.6% 0.20% 0.20%
03:15 PM US Manufacturing Production YoY JUL 0.4% 0.70%
04:00 PM BR Business Confidence AUG 47.3 49.34
04:00 PM MX Foreign Exchange Reserves JUN $179.35B $ 179.6B
05:30 PM US 4-Week Bill Auction 0.270%
05:30 PM US 52-Week Bill Auction 0.550%
07:30 PM US Fed Lockhart Speech
10:00 PM CO Industrial Production YoY JUN 4.5% 4.36%
10:00 PM CO Retail Sales YoY JUN -0.5% 0.88%
Wednesday August 17 2016
Time Country Event Actual Previous Consensus Forecast
02:30 AM AU Westpac Leading Index MoM JUL -0.2%
02:30 AM SG Balance of Trade JUL $5.2B $5.9B
02:30 AM SG Non-Oil Exports YoY JUL -2.3%
02:30 AM SG Non-Oil Exports MoM JUL -12.9%
03:30 AM AU Wage Price Index YoY Q2 2.1% 2% 2%
03:30 AM AU Wage Price Index QoQ Q2 0.4% 0.50%
10:30 AM GB Claimant Count Change JUL 0.4K 10K 5.5K
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10:30 AM GB Unemployment Rate JUN 4.9% 4.90% 4.90%
10:30 AM GB Average Earnings excl. Bonus JUN 2.2% 2.30% 2.20%
10:30 AM GB Average Earnings incl. Bonus JUN 2.3% 2.40% 2.20%
11:00 AM CH ZEW Economic Sentiment Index AUG 5.9 7.4
01:00 PM ZA Retail Sales MoM JUN 3.4% 0.40%
01:00 PM ZA Retail Sales YoY JUN 4.5% 3.80% 4.10%
01:00 PM US MBA Mortgage Applications 12/AUG 7.1% -0.40%
01:00 PM US MBA 30-Year Mortgage Rate 12/AUG 3.65% 3.66%
02:00 PM PL Employment Growth YoY JUL 3.1% 3.20% 3.10%
02:00 PM PL Corporate Sector Wages YoY JUL 5.3% 4.50% 4.60%
03:00 PM RU PPI MoM JUL 2.7% -0.20%
03:00 PM RU PPI YoY JUL 5.1% 5.00%
03:00 PM RU Retail Sales YoY JUL -5.9% -5.70% -5.50%
03:00 PM RU Unemployment Rate JUL 5.4% 5.40% 5.30%
03:00 PM RU Real Wage Growth YoY JUL 1.4% 1.50% 0.60%
04:00 PM BE Balance of Trade JUN €2041M € 1693.6M
04:00 PM CO Consumer Confidence JUL -11.3 -12.93
04:30 PM US EIA Crude Oil Stocks Change 12/AUG 1.055M -0.9M
04:30 PM US EIA Gasoline Stocks Change 12/AUG -2807K -1425.9K
08:00 PM US FOMC Minutes
08:00 PM US Fed Bullard Speech
IR Inflation Rate YoY JUL 6.8% 7.00%
Thursday August 18 2016
Time Country Event Actual Previous Consensus Forecast
01:50 AM JP Balance of Trade JUL ¥693B ¥283.7B ¥ 466.3B
01:50 AM JP Exports YoY JUL -7.4% -14%
01:50 AM JP Foreign Bond Investment 13/AUG ¥891.8B ¥512B
01:50 AM JP Stock Investment by Foreigners 13/AUG ¥-492.2B ¥-195B
01:50 AM JP Imports YoY JUL -18.8% -20.60%
03:30 AM AU Employment Change JUL 7.9K 11K -5K
03:30 AM AU Full Time Employment Chg JUL 38.4K -6.7K
03:30 AM AU Participation Rate JUL 64.9% 64.90% 64.85%
03:30 AM AU Part Time Employment Chg JUL -30.6K 21K
03:30 AM AU Unemployment Rate JUL 5.8% 5.80% 5.90%
03:30 AM CN House Price Index YoY JUL 7.3% 6%
04:00 AM PH GDP Growth Rate QoQ Q2 1.1% 0.90%
04:00 AM PH GDP Growth Rate YoY Q2 6.9% 6.70%
05:00 AM PH Budget Balance JUN PHP-45.2B -29.6B
06:30 AM NL Consumer Confidence AUG 1 5
06:30 AM NL Household Consumption YoY JUN 1.4% 2%
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07:30 AM FR Unemployment Rate Q2 10.2% 10.10%
07:30 AM NL Unemployment Rate JUL 6.1% 6%
09:00 AM AT Inflation Rate YoY JUL 0.6% 0.70%
09:00 AM AT Inflation Rate MoM JUL 0.1% 0.20%
10:00 AM EA Current Account JUN €15.4B € 34B
10:30 AM HK Unemployment Rate JUL 3.4% 3.50%
10:30 AM GB Retail Sales ex Fuel MoM JUL -0.9% 0.40% 0.40%
10:30 AM GB Retail Sales ex Fuel YoY JUL 3.9% 3.90% 3.60%
10:30 AM GB Retail Sales MoM JUL -0.9% 0.10% 0.30%
10:30 AM GB Retail Sales YoY JUL 4.3% 4.20% 4.00%
11:00 AM EA Construction Output YoY JUN -0.8% -0.50%
11:00 AM EA Core Inflation Rate YoY Final JUL 0.9% 0.90% 0.90%
11:00 AM EA Inflation Rate YoY Final JUL 0.1% 0.20% 0.20%
11:00 AM EA Inflation Rate MoM JUL 0.2% -0.50% -0.20%
11:10 AM ES 3-Year Bonos Auction -0.061%
11:10 AM ES 5-Year Bonos Auction 0.168%
11:10 AM ES 10-Year Obligacion Auction 1.061%
12:00 PM IL Industrial Production YoY JUN 3.8% -0.70%
12:00 PM IL Industrial Production MoM JUN -0.8% -0.51%
12:00 PM PT PPI MoM JUL 1.3% 0.40%
12:00 PM PT PPI YoY JUL -3.2% -2.90%
12:30 PM PT Current Account JUN €-939M €-561.2M
01:30 PM CL GDP Growth Rate QoQ Q2 1.3% 0.60%
01:30 PM CL GDP Growth Rate YoY Q2 2% 1.70%
01:30 PM EA ECB Monetary Policy Meeting Accounts
02:00 PM IL Money Supply M1 YoY JUL 23.8% 23%
02:00 PM NG Food Inflation YoY JUL 15.3% 15.90%
02:00 PM NG Inflation Rate YoY JUL 16.5% 17.15% 17%
02:00 PM PL Industrial Production YoY JUL 6% 1.30% 6.50%
02:00 PM PL PPI YoY JUL -0.7% -0.40% -0.60%
02:00 PM PL Retail Sales YoY JUL 4.6% 4.20% 5.10%
02:30 PM CA Foreign Securities Purchases JUN C$14.73B C$ 6.9B
02:30 PM CA Foreign Securities Purchases by Canadians JUN C$5.05B
02:30 PM US Continuing Jobless Claims AUG/06 2155K 2151K
02:30 PM US Initial Jobless Claims AUG/13 266K 265K 262K
02:30 PM US Philadelphia Fed Manufacturing IndexAUG -2.9 1.5 -0.75
04:00 PM US CB Leading Index MoM JUL 0.3% 0.20% 0.20%
04:30 PM US EIA Natural Gas Stocks Change 12/AUG 29Bcf 17Bcf
05:50 PM CL Current Account Q2 $515M $ -961.3M
![Page 12: In this Issue - sinayo.co.zasinayo.co.za/wp-content/uploads/2016/06/Week-Ahead-15-19-August.pdfof a strong economy. Crude oil followed also weekend on increases in inventories and](https://reader033.fdocuments.in/reader033/viewer/2022041421/5e1f867399742d4efb55e277/html5/thumbnails/12.jpg)
2
11:00 PM KR PPI MoM JUL 0.2% -0.50%
11:00 PM KR PPI YoY JUL -2.7% -2.90%
11:00 PM US Fed Williams Speech
Friday August 19 2016
Time Country Event Actual Previous Consensus Forecast
01:00 AM JP Reuters Tankan Index AUG 3
06:30 AM JP All Industry Activity Index MoM JUN -1%
08:00 AM DE PPI MoM JUL 0.4% 0.10% 0.20%
08:00 AM DE PPI YoY JUL -2.2% -2.10% -2%
09:30 AM SE Capacity Utilization QoQ Q2 0.9% 0.40%
10:00 AM GR Current Account JUN €-0.412B € -1B
10:00 AM ES Balance of Trade JUN €-0.94B € -2.6B
10:10 AM TW Current Account Q2 $20.72B $ 18.7B
10:30 AM GB Public Sector Net Borrowing JUL £-7.31B £ -3.3B
11:00 AM ID Deposit Facility Rate AUG 4.5% 4.50%
11:00 AM ID Interest Rate Decision 6.5% 6.50%
11:00 AM ID Lending Facility Rate AUG 7% 7%
11:00 AM IT Current Account JUN €3189.1M € 3412M
12:00 PM AE Loan Growth YoY JUL 6.7%
12:00 PM AE M3 Money Supply YoY JUL 2%
01:30 PM IN Foreign Reserves 12/AUG $365.75B $ 365.4B
01:30 PM IN Deposit Growth YoY 5/AUG 9.5%
01:30 PM IN Bank Loan Growth 5/AUG 9.7%
02:30 PM CA Core Inflation Rate YoY JUL 2.1% 2.10% 2.10%
02:30 PM CA Inflation Rate YoY JUL 1.5% 1.50% 1.40%
02:30 PM CA Inflation Rate MoM JUL 0.2% 0% 0.10%
02:30 PM CA Retail Sales MoM JUN 0.2% 0.50% 0.40%
02:30 PM CA Retail Sales YoY JUN 3.6% 3.70%
02:30 PM CA Retail Sales Ex Autos MoM JUN 0.9% 0.40% 0.20%
03:00 PM BE Consumer Confidence AUG -4 -5
04:00 PM MX Current Account Q2 $-6991M $ -7137M
07:30 PM BR Federal Tax Revenues JUL BRL98.1B BRL110.3B
10:00 PM CO Balance of Trade JUN $-0.9B $ -1.1B
10:00 PM CO Imports YoY JUN -19.3% -12.30%
Conclusion
![Page 13: In this Issue - sinayo.co.zasinayo.co.za/wp-content/uploads/2016/06/Week-Ahead-15-19-August.pdfof a strong economy. Crude oil followed also weekend on increases in inventories and](https://reader033.fdocuments.in/reader033/viewer/2022041421/5e1f867399742d4efb55e277/html5/thumbnails/13.jpg)
The Japanese data has kicked off this week’s
trading with data coming out less than forecast at
0.2 % annualized versus a consensus estimate of
0.7% annualized. Chinese data also came out
Friday last week, which should set the tone for
this week.
On the local front this week the rand has been
recovering from its lows seen on the 24 of June.
This will be good for importers, and for inflation
expectations.
Have a fantastic week ahead!
.