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From Australia, yesterday, NAB Business Confidence data was published. The October reading for NAB’s monthly business survey has the business conditions index rising to an all-time high of +21. That’s a jump of 7 points from September, and marks the highest ever reading since the monthly series began in 1997. The increase is particularly impressive given that business conditions were already trending strongly, with readings in recent months consistently around three times higher than the long-term average.

 

From China, Industrial Production figures were released. In October, the real growth of the total value added of the industrial enterprises above designated size was 6.2 percent compared with a year ago, 0.4 percentage point slower than last month, or 0.1 percentage point faster than the same month last year. An analysis by types of ownership showed that the value added of the state holding enterprises went up by 6.6 percent year on year; collective enterprises up by 3.6 percent; share-holding enterprises up by 6.1 percent; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan up by 6.5 percent.

 

In the US session PPI data was published. The Producer Price Index for final demand increased 0.4 percent in October, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 0.4 percent in September and 0.2 percent in August. On an unadjusted basis, the final demand index increased 2.8 percent for the 12 months ended in October, the largest rise since an advance  of 2.8 percent for the 12 months ended February 2012. Within final demand in October, prices for final demand services rose 0.5 percent, and the index for final demand goods moved up 0.3 percent.  

 

From Australia, tomorrow, Wage Price Index figures will be published. Analysts expect 0.7% increase. In the US session CPI, Retail Sales and Empire State Manufacturing Index figures will be released. CPI is expected to rose by 0.1%, while Retail Sales should remain unchanged. Empire State Manufacturing Index should decline to 25.5.

 

Figures to watch:

 

Wage Price Index (Wednesday 1:30)

CPI (Wednesday 14:30)

Retail Sales (Wednesday 14:30)

Empire State Manufacturing Index (Wednesday 14:30)

Last modified on Wednesday, 15 November 2017

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