Strait of Hormuz Shipping Near Standstill After New Vessel Attacks 
Canada-US Trade Talks Gain Momentum Ahead of Aug. 19 Tariff Deadline 
Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
Asian Currencies Edge Higher as Soft US Inflation Weighs on Dollar 
European Stocks Steady as U.S.-Iran War, Euro Zone Data Keep Investors Cautious 
KOSPI Eyes Best Weekly Gain Since June as Samsung, SK Hynix Rally 
Gold Prices Slip From Two-Month High as Inflation and Fed Outlook Drive Markets 
Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets 
Japan Government Backs Earlier BOJ Rate Hike as Inflation Pressures Build 
Asian Currencies Steady Ahead of US CPI as Oil Prices Rise 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
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Lots of data and events scheduled for today and some with high volatility risks associated.
Data released so far:
- China: NBS manufacturing PMI rose to 51.7 in August. Non-manufacturing PMI declines to 53.4
- Australia: HIA new home sales declined 3.7 percent in July. Private sector credit is up 0.5 percent in July, up 5.3 percent y/y.
- New Zealand: ANZ business confidence declined to 18.3 in August. Activity outlook declined to 38.2 percent.
- Japan: Vehicle production is up 1.4 percent y/y.
Upcoming:
- Japan: Housing starts numbers and construction orders report will be published at 5:00 GMT.
- Germany: Retail sales report for July will be published at 6:00 GMT, followed by unemployment report at 8:00 GMT.
- France: Producer and consumer price inflation reports will be published at 6:45 GMT.
- Italy: Unemployment report will be published at 8:00 GMT, followed by HICP inflation report at 9:00 GMT.
- Greece: Retail sales report will be released at 9:00 GMT.
- Eurozone: Unemployment and HICP inflation reports will be published at 9:00 GMT.
- United States: Challenger jobs report will be published at 11:30 GMT, followed PCE inflation report along with consumer income and spending reports and weekly jobless claims report at 12:30 GMT. Chicago PMI report will be published at 13:45 GMT, followed by pending home sales report at 14:00 GMT. EIA will release weekly natural gas inventory report at 14:30 GMT.
- Canada: Second quarter GDP numbers will be updated at 12:30 GMT.
- New Zealand: Terms of trade report will be published at 22:45 GMT.
- Australia: Performance of manufacturing index will be updated at 23:30 GMT.
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