Australia will on Thursday release October numbers for trade balance and retail sales, highlighting a modest day for Asia-Pacific economic activity.
The trade balance is expected to show a surplus of A$6.50 billion, down from A$7.180 billion in September. Retail sales are called higher by 0.3 percent, up from 0.2 percent in the previous month.
New Zealand will provide Q3 numbers for the volume of all building, with forecasts suggested to show an increase of 1.0 percent on quarter following the 1.5 percent contraction in the three months prior. South Korea will see October results for current account; in September, the surplus was $66.89 billion.
The Philippines will release November numbers for consumer prices and Q3 data for unemployment. In October, inflation was up 0.2 percent on month and 0.8 percent on year, while core CPI was up 2.6 percent on year. The jobless rate in Q2 was 5.4 percent, with a participation rate of 62.1 percent.
Finally, the markets in Thailand are closed on Thursday in observance of late king Bhumibol's birthday and will re-open on Friday.
Residential property prices in Australia were up 2.4 percent on quarter in the third quarter of 2019, the Australian Bureau of Statistics said on Tuesday.
That beat expectations for an increase of 1.5 percent following the 0.7 percent decline in the second quarter.
On a yearly basis, house prices fell 3.7 percent - again topping forecasts for a decline of 4.6 percent following the 7.4 percent tumble in the three months prior.
House prices were up in Sydney (+3.6 percent), Melbourne (+3.6 percent), Brisbane (+0.7 percent) and Hobart (+1.3 percent), and fell in Perth (-1.2 percent), Adelaide (-0.3 percent), Canberra (-0.5 percent) and Darwin (-1.2 percent) this quarter.
Prices fell in Darwin (-5.4 percent), Sydney (-4.6 percent), Perth (-4.6 percent), Melbourne (-3.5 percent), Brisbane (-2.6 percent), Canberra (-1.4 percent) and Adelaide (-1.0 percent), and rose in Hobart (+2.1 percent) over the last twelve months.
The Bank of Japan will on Friday see Q4 results for its quarterly Tankan Survey of business sentiment, highlighting a modest day for Asia-Pacific economic activity.
The large manufacturers index is expected to see a score of +3, down from +5 in Q3. The outlook is expected to rise to +4 from +2. All industry capex is expected to add 6.0 percent in Q4, slowing from 6.6 percent in the previous three months.
Japan also will see final October figures for industrial production, with the previous reading suggesting a decline of 4.2 percent on month and 7.4 percent on year.
Hong Kong will release Q3 figures for industrial production; in Q2, production was down 0.7 percent on quarter and up 0.4 percent on year.
Malaysia will provide September numbers for unemployment; in August, the jobless rate was 3.3 percent and the participation rate was 68.7 percent.
China will release a raft of data on Monday, setting the pace for a busy day in Asia-Pacific economic activity. On tap are November numbers for industrial production, retail sales, fixed asset investment, unemployment and new home prices.
Industrial production is expected to add 5.0 percent on year, up from 4.7 percent in October. Retail sales are tipped to gain an annual 7.6 percent, up from 7.2 percent in the previous month. FAI is called steady at 5.2 percent. The jobless rate in October was 5.1 percent, while home prices rose an annual 0.5 percent.
Japan will see October figures for its tertiary industry index and preliminary December readings for the manufacturing, services and composite PMIs from Nikkei and Jibun Bank.
The tertiary industry index is tipped to slid 3.6 percent on month after rising 1.8 percent in September. The manufacturing PMI had a score of 48.9 in November, while the services index was at 50.3 and the composite was at 49.8.
New Zealand will provide November numbers for its Performance of Services Index; in October, the index score was 55.4.
Indonesia will release November data for imports, exports and trade balance. In October, imports were worth $14.77 billion and exports were at $14.93 billion for a trade surplus of $161.3 million
The total number of home loans issued in Australia was up a seasonally adjusted 2.0 percent on month in October, the Australian Bureau of Statistics said on Tuesday - worth A$18.21 billion.
Loans for owner occupied housing rose 2.2 percent to A$13.11 billion, while investment loans gained 1.4 percent to A$5.10 billion.
On a yearly basis, overall loans gained 0.9 percent, while owner occupied loans jumped 5.7 percent and investment loans dropped 9.7 percent. Personal fixed term loans were up 3.1 percent on month and down 9.4 percent on year to A$1.73 billion.
After the release of German producer price index at 2.00 am ET Wednesday, the euro traded mixed against its major rivals. While the euro fell against the pound, it changed little against the rest of major counterparts.
The euro was trading at 1.1138 against the greenback, 121.90 against the yen, 1.0926 against the franc and 0.8490 against the pound around 2:02 am ET.
Dollar Stays Subdued Amid Impeachment News, Mixed Economic Data
The U.S. dollar recovered well after a weak start on Thursday, but swung between gains and losses till the end of the day as traders looked ahead to the crucial GDP data, due on Friday. The economic data released today turned out to be a mixed bag.
The impeachment of U.S. President Donald Trump made an impact as well on the currency.
On Wednesday, the U.S. House of Representatives voted to impeach President Donald Trump on grounds of misusing his powers and obstructing the congressional probe into his dealings with Ukraine.
Donald Trump becomes the third US president to be impeached by the House of Representatives, after the impeachments of Bill Clinton and Andrew Johnson.
Trump will now face a Senate trial next month.
Republicans currently hold a 53 to 45 majority in the Senate, with two Democratic-leaning independents, and removing Trump from office would require a two-thirds vote in favor.
Several Senate Republicans have already indicated they will not vote to remove Trump from office even before the Senate holds its trial on the House charges.
In economic news, the Labor Department's data showed initial jobless claims pulled back in the week ended December 14th. The report said initial jobless claims fell to 234,000, a decrease of 18,000 from the previous week's unrevised level of 252,000. Economists had expected jobless claims to drop to 225,000.
A report from the Federal Reserve said Philadelphia-area manufacturing activity was nearly flat in the month of December, with the bank's diffusion index for current general activity tumbling to 0.3 in December from 10.4 in November. Economists had expected the index to dip to 8.0.
With the much bigger than expected decrease, the Philly Fed Index slumped to its lowest reading in six months.
A report released by the National Association of Realtors said existing home sales tumbled by 1.7% to an annual rate of 5.35 million in November after jumping by 1.5% to a revised 5.44 million in October.
Economists had expected existing home sales to dip by 0.4% to a rate of 5.44 million from the 5.46 million originally reported for the previous month.
The Conference Board said its leading economic index was unchanged in November after dipping by 0.2% in both September and October. Economists had expected the index to inch up by 0.1%.
The dollar index, which declined to 97.22 early on in the day, rose to 97.49 by late morning, but retreated to 97.40 later on in the day, turning flat.
Against the Euro, the dollar was at $1.1122 at close, and edged down a bit to $1.1126 subsequently.
The Pound Sterling settled at $1.3010, after trading about $1.3100 earlier in the day.
The Japanese Yen strengthened to around 109.20 a dollar, from a low of 109.60 a dollar, and later eased a bit to 109.30 yen, but still held in positive territory.
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