Non-farm payrolls shake up markets, here are the top 3 scenarios of what could happen.
The French economy, the second largest economy in the euro area, grew in the second quarter of 2017, driven by foreign trade and consumer spending. GDP grew by 0.5% on a quarter-on-quarter basis, confirming a preliminary reading.
Japan's consumer spending unexpectedly fell in July despite a continuing improvement in the labor market, providing some hope for faster wage growth and thus helping the world's third-largest economy to get rid of long decades of deflation.
Wolfgang Schaeuble, German Finance Minister, made the following statement:
• The issue of Greek debt reduction is not on our agenda at all for now.
Toshimitsu Motegi, Japan's Minister of Economy, made the following remarks:
• We need to look at many economic data to judge the strenghth of consumer spending.
Markets rushed to safe havens after North Korea fired a rocket passed over northern Japan in a provocative act from Pyongyang that led to increased global tensions. The missile landed in the Pacific Ocean about 1,200 kilometers from Japanese shores.
US President Donald Trump tweeted yesterday expressed that he wasn't pleased with the NAFTA renegotiation process. Trump said: " We are in the NAFTA (worst trade deal ever made) renegotiation process with Mexico & Canada. Both being very difficult, may have to terminate?"
The oil refineries in Texas have shut down due to the rain and floods caused by Hurricane Harvey. The loss of production could result in more than 1 million barrels per day of refining capacity in Houston and Galveston, and that does not include hundreds of thousands of barrels in Corpus Christi.
Comments from the Bank of Tokyo - Mitsubishi after the end of the Jackson Hole Conference as follows:
• Statements by Janet Yellen, the Federal Reserve Governor and almost free to talk about monetary policy through Jackson hole are not unexpected.
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