Wednesday, August 30, 2017

Economic News , Data & Views.....August 30 , 2017.....Quick Hits For Wednesday -1) Markets : Asia Economic Calendar For Thursday , China Official Manufacturing & Non Manufacturing PMI Data Due Later , Japan Industrial Production Coming Out Today , News On North Korea : US - Nasdaq Has Strong Day As Stock Indexes Look Past North Korea Tensions & Harvey Flooding And Damage Claims , Oil Falls Again Today , FX News Of Note , Additional US Financial News Of Note. 2) Tropical Storm Harvey - Recent Updates For Wednesday. 3) US Political News To Consider - Late Afternoon & Evening Items. 4) Europe Financial News To Consider Today. 5) Odds & Ends !



Markets.....



Asia....




Calendar for Thursday..




CHINA AUG. MANUFACTURING PMI AT 51.7; EST. 51.3





Japanese Industrial Production (Y/Y) Jul P: 4.70% (est 5.20% ; prev 5.50%)




Japanese Industrial Production(M/M) Jul P: -0.80% (est -0.30% ; prev 2.20%)





DJ S KOREA JUL INDUSTRIAL OUTPUT +1.9% ON MON; +0.5% FORECAST moar missiles...





China PMI data due out later ...








Japan data splash...








Russia’s Lavrov: Believes Further Increase Of Sanction Pressure On North Korea Counter-Productive And Dangerous – RTRS




My latest for : why Kim Jong-un still isn't irrational, even if he's flying missiles over Japan.






In phone call and confirm "continuing, close cooperation" to address launch of IRBM that overflew .






US......




US Stock Indexes Look past Harvey flooding concerns and North Korea tensions once again...






1 hour ago
ForexLive Americas FX news wrap: US dollar marches higher




WTI Futures Settle At $45.96/Bbl, Down $0.48



Fitch: Hurricane Harvey Flooding Will Impact Some US CMBS




S&P: Sees Chances Of US Govt Shutdown In Late September As ‘Slim’ With Hurricane Harvey Further Reducing The Chances - RTRS



Atlanta Fed's GDPNow forecasting tool sees 3Q GDP at 3.4%, nearly double of NY Nowcasting at 1.9% for 3Q.




Tropical Storm Harvey..



Texas may need more than $125 billion U.S. aid for Harvey recovery: governor





Here's a look at the Storm Total 5 Day Point Rainfall Amounts in inches. Graphic courtesy of





Flash Flood Warning continues for Beaumont TX, Port Arthur TX, Orange TX until 12:30 AM CDT






Flash Flood Warnings were issued earlier today for levee breaches along Spring and Cypress Creek in N Houston.





Perspective: Jack Brooks Regional Airport in Beaumont, TX recorded a record 26.03" of rain Tue. Old record was 12.77" (via )





Rescue ops near the TX/LA border. .





Flash Flood Warning continues for DeRidder LA, Leesville LA, Vinton LA until 8:15 PM CDT






Actually , a good overall summary of Hurricane /Tropical Storm Harvey...





Tropical Storm Advisory 41A: Harvey Weakening as it Moves Farther Inland.





Replying to 
LATEST: • 14,000 National Guard troops activated • At least 18,600 rescued • 32,000 people currently in shelters
US Politics....



House committee rejects Dems' request to investigate Sheriff Joe Arpaio's pardon




"Hopefully Congress will get on board. I think it's really sad if they don't," says of tax reform.





On Trump mentioning Ivanka Trump, a staffer who like Cohn was present at tax speech, SHS: "He was also recognizing her as his daughter."





Trump spoke today with Saudi Arabia's King Salman about Qatar dispute, threat Iran poses to region, Hurricane Harvey victims, WH says.



MEXICO'S FOREIGN MINISTER VIDEGARAY SAYS IF THE RESULTS OF NAFTA TALKS ARE NOT BENEFICIAL FOR MEXICO, TALKS SHOULD NOT CONTINUE




US Pres. Trump: Would Ideally Like To Bring Business Tax Rate Down To 15%




US Pres. Trump: `Working On' NAFTA, Will `See What Happens'




US Pres. Trump: McCaskill Must Help With Tax Reform Or ‘Be Voted Out’




US Pres. Trump: Tax System Should Benefit Hard-Working Americans -System ‘Currently Benefits The Wealthy, Not Middle Class’




US Pres. Trump: Many Regulations Are Unnecessary, `Going Fast' -To Bring Back Main Street By Cutting Crushing Tax Burden



Trump meets with the Big Four (Congressional leaders Pelosi, Schumer, Ryan and McConnell) on Wednesday of next week,




Trump meets with the Big Six (Brady, Hatch, Ryan, McConnell, Cohn and Mnuchin) on tax reform on Tuesday per .




"Anybody I forgot?" Trump says.





Traveling with Trump today is chief economic adviser Gary Cohn, 5 days after he voiced his "distress" over the Charlottesville aftermath.




Kremlin says got Trump adviser email about tower project but ignored it





Europe Financial News....




Interesting: also EU "recognises" that transition talks should get UK to "commit" on exit bill. Neither side dares to make transition offer






Oops! While EUR/USD has recovered to ~50% of its decline from 2014-Jan2017, trade-weighted EUR rebounded within 2% of its 2014 high (via AP)





1 hour ago
Just published: front page of the Financial Times UK edition for August 31







French FinMin Le Maire: To Sell Some State Holdings In French Companies In ‘Coming Weeks’ - RTRS





(1) French FinMin Le Maire: Upcoming Budget Bill Includes Plans For Corp. Tax Rate Cuts - RTRS





(2) French FinMin Le Maire: To Be Cut To 31% From 2019, 28% In 2020, 26.5% In 2021 & 25% In 2022 - RTRS




Opinion: France can learn from Germany on labour reform






FRENCH FINANCE MINISTER SAYS FRANCE, GERMANY AND ITALY TO MAKE PROPOSAL ON VETTING INVESTMENTS IN STRATEGIC COMPANIES IN EUROPE






Donald Trump's financial relationship with Deutsche Bank goes back decades. Here's some of what we know about it:






German Aug jobless rate seen at a record low for the 4th straight month. LiveSquawk to cover it on Thurs. Preview:




FRENCH FINANCE MINISTER CONFIRMS PLANS TO SELL SOME STATE HOLDINGS IN FRENCH COMPANIES IN "COMING WEEKS"




French FinMin Le Maire: To Unveil Tax Changes Today, Will Be Favourable For Businesses – BFM Business TV




French FinMin Le Maire: Economy. Growth In France Remains Fragile – BFM Business TV




FRANCE'S CAC 40 .FCHI UP 0.58 PCT, GERMANY'S DAX .GDAXI UP 0.55 PCT, SPAIN'S IBEX .IBEX UP 0.62 PCT



GAZPROM SAYS NORD STREAM 2 WILL BE IMPLEMENTED REGARDLESS OF SANCTIONS



*VERHOFSTADT SAYS `NO DEAL' ON BREXIT IS NO LONGER AN OPTION



“Ireland is appealing the decision as is Apple and does not expect to receive anything in the end.”





Odds & Ends...



HWRF 18z wastes no time ramping up Irma into a major hurricane over next 3-5 days. Note bend in track to the WSW, unusual to lose latitude.





Keep an eye on Irma - expected to become a Hurricane as it Moves across Atlantic Tropical areas....







NHC SAYS IRMA LOCATED ABOUT 480 MI (770 KM) WEST OF CABO VERDE ISLANDS WITH MAXIMUM SUSTAINED WINDS OF 60 MPH (95 KM/H)





NHC SAYS TROPICAL STORM IRMA INTENSIFYING STEADILY OVER THE FAR EASTERN ATLANTIC



Syria....



-led coalition strikes to block evacuees from border




SDF captured big parts of Nahdah, Al-Huni and Thakanah districts and besieged al-Tashih and Moroor districts Map:




Syrian Arab Army captured Harbesha east of Sukhnah [via ] Map:





Replying to 
Rough Location of Harbisha village according to this map. Syrian Army reached Harbisha outskirts





Syrian Army reached admin. border of Deir Ezzor province,~50km E. of Sukhnah.70km left to city. HD:





Approximate situation after the Syrian Arab Army captured Al-Mushayrifah village Map: