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SOUTH KOREA CONSUMER CONFIDENCE WEAKENS TO 4-MONTH LOW



South Korea's consumer sentiment weakened in September to the lowest level in four months, as households' current and future living conditions worsened, survey results from the Bank of Korea showed on Tuesday.

The consumer confidence index fell to 99.7 in September from 103.1 in August.
This was the lowest reading since May 2022, when it was 98.0.

The consumer confidence survey was conducted between September 11 and 18, among 2,500 households.

The sub-index for households' assessment of the prospective living standards dropped to 92 from 95, and the measure for the current living standards dropped to 89 from 91.

Similarly, the index measuring consumers' prospective household income decreased to 99 to 100 in July.
South Koreans were less pessimistic about their job prospects and the relevant index dropped to 74.0 from 84.

Their interest rate expectations remained stable in September, and the measure came in at 99.0.

The expected inflation rate for the upcoming year was 4.1 percent versus 4.2 percent in August.

Households' expectations for the domestic economic conditions in the future weakened from 72 to 66.0.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMAN GFK CONSUMER SENTIMENT DATA DUE



Consumer confidence from Germany and France are the top economic data due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the market research group GfK is scheduled to issue Germany's consumer sentiment survey results. Economists forecast the forward-looking consumer confidence index to remain unchanged at -25.5 in October.
In the meantime, unemployment from Norway and foreign trade data from Sweden are due. At 2.45 am ET, France's statistical office INSEE publishes consumer confidence survey data. Economists forecast the consumer sentiment index to fall to 84 in September from 85 in the previous month.

At 3.00 am ET, the National Institute of Economic Research releases Sweden's economic tendency survey results for September.

At 4.00 am ET, the European Central Bank is set to release euro area monetary aggregates for August. M3 money supply is forecast to fall 1.0 percent annually after a 0.4 percent drop in July.
Also, manufacturing Purchasing Managers' survey results are due from Austria.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY FLASH INFLATION DATA DUE



Flash inflation from Germany and economic sentiment survey results from the euro area are the top economic news due on Thursday.

At 2.00 am ET, Statistics Norway publishes retail sales and household consumption data.

At 3.00 am ET, Spain's statistical office INE is slated to release flash consumer prices and retail sales data. Economists forecast inflation to rise to 3.5 percent in September from 2.6 percent in August.

At 4.00 am ET, the European Central Bank publishes monthly bulletin. In the meantime, business and consumer sentiment survey results and producer prices are due from Italy.

At 5.00 am ET, the European Commission is set to issue economic sentiment survey results. The economic confidence index is expected to drop to 92.5 in September from 93.3 in August.

At 8.00 am ET, flash inflation figures are due from Germany. Consumer price inflation is forecast to ease sharply to 4.6 percent in September from 6.1 percent in August.

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JAPAN INDUSTRIAL PRODUCTION UNCHANGED IN AUGUST



Industrial output in Japan came in flat in August, the Ministry of Economy, Trade and Industry said on Friday.
That beat expectations for a decline of 0.8 percent following the 1.8 percent drop in July.

On a yearly basis, industrial production fell 3.8 percent after slipping 2.3 percent in the previous month.
Upon the release of the data, the METI announced its assessment of production to fluctuating indecisively.
Industries that saw increased production included petroleum and coal products, communications electronics equipment and fabricated metals.

These were offset by declines among motor vehicles, iron and steel and transport equipment.

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PHILIPPINES MANUFACTURING SECTOR CLIMBS INTO EXPANSION TERRITORY - S&P GLOBAL



The manufacturing sector in the Philippines moved to expansion in September, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 50.6.

That's up from 49.7 in August, and it moves above the boom-or-bust line of 50 that separates expansion from contraction.

After having fallen for the first time in a year in August, improved demand conditions and new client wins supported a fresh, albeit modest rise in new orders during September. However, latest data also revealed a fall in new business from abroad, thereby marking the first month of contraction in the year-to-date. Moreover, the rate of decrease was solid overall and faster than the historical average.

Subsequently, the data suggested that the latest uptick in factory orders was fueled by domestic demand. Nonetheless, the overall rise in total new business translated into a further expansion in production. Moreover, the rate of growth quickened from August's 12-month low.

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AUSTRALIA CENTRAL BANK KEEPS RATE UNCHANGED



Australia's central bank kept its key interest rate unchanged for the fourth straight session on Tuesday.
The policy board decided to maintain the cash rate target at 4.10 percent. The decision matched economists' expectations.

The central bank has raised its key rates by 4 percentage points since May last year. "The higher interest rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so," Governor Michele Bullock said.

"Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will continue to depend upon the data and the evolving assessment of risk," she added.

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AUSTRALIA CENTRAL BANK KEEPS RATE UNCHANGED



Australia's central bank kept its key interest rate unchanged for the fourth straight session on Tuesday.
The policy board decided to maintain the cash rate target at 4.10 percent. The decision matched economists' expectations.

The central bank has raised its key rates by 4 percentage points since May last year. "The higher interest rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so," Governor Michele Bullock said.

"Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will continue to depend upon the data and the evolving assessment of risk," she added.

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AUSTRALIA CENTRAL BANK KEEPS RATE UNCHANGED



Australia's central bank kept its key interest rate unchanged for the fourth straight session on Tuesday.
The policy board decided to maintain the cash rate target at 4.10 percent. The decision matched economists' expectations.

The central bank has raised its key rates by 4 percentage points since May last year. "The higher interest rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so," Governor Michele Bullock said.

"Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will continue to depend upon the data and the evolving assessment of risk," she added.

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NEW ZEALAND CENTRAL BANK KEEPS KEY RATE UNCHANGED



New Zealand's central bank decided to hold its benchmark rate unchanged, as widely expected, on Wednesday.

The Monetary Policy Committee of the Reserve Bank of New Zealand maintained the Official Cash Rate at 5.50 percent. The committee decided to keep the interest rate at a restrictive level to ensure that inflation returns to the 1 to 3 percent target range and to support maximum sustainable employment.

Policymakers observed that there is a near-term risk of activity and inflation not slowing as much as needed. Further, a greater slowdown in global economic demand, particularly in China could damp commodity prices and in turn export revenue.

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EUROPEAN ECONOMIC NEWS PREVIEW: GERMANY FOREIGN TRADE DATA DUE



Foreign trade and construction Purchasing Managers' survey results from Germany are the top economic news due on Thursday.

At 2.00 am ET, Destatis is scheduled to issue Germany's external trade data for August. Exports are forecast to fall 0.4 percent on month, while imports are expected to climb 0.5 percent.

At 2.45 am ET, France's statistical office INSEE is scheduled to release industrial production for August.

Economists expect industrial output to drop 0.4 percent on a monthly basis, in contrast to the 0.8 percent increase in July.

At 3.00 am ET, Spain's INE publishes industrial output for August. Output is seen falling 2.1 percent annually after a 1.8 percent drop in July.

At 3.30 am ET, Germany's construction Purchasing Managers' survey results are due.

At 4.30 am ET, S&P Global releases UK construction PMI data for September. The index is seen at 49.9, down from 50.8 in August.

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JAPAN LEADING INDEX RISES TO 109.5, HIGHEST IN 9 MONTHS



Japan's leading index improved in August to the highest level in nine months, preliminary data from the Cabinet Office showed on Friday.

The leading index, which measures future economic activity, rose to 109.5 in August from 108.2 in July.
Further, this was the highest reading since November last year, when it was 109.6.

The coincident index that measures the current economic situation increased somewhat to a 114.3 in August from 114.2 in the previous month.

Data showed that the lagging index climbed to 106.0 from 105.7 in the previous month.

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CHINESE YUAN RISES TO NEAR 2-WEEK HIGH AGAINST U.S. DOLLAR



The Chinese yuan strengthened against the U.S. dollar in the Asian session on Monday, as Chinese market reopened after China's Golden Week holiday.

Against the greenback, the yuan rose to nearly a 2-week high of 7.2940 from a recent high of 7.3021.

If the yuan extends its uptrend, it is likely to find resistance around the 7.24 region.

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JAPAN HAS Y2.279 TRILLION CURRENT ACCOUNT SURPLUS IN AUGUST



Japan posted a current account surplus of 2.279 trillion yen in August, the Ministry of Finance said on Tuesday.

That was shy of expectations for a surplus of 3.091 trillion yen following the 2.771 trillion yen surplus in July.

Exports were down 2.6 percent on year at 7.893 trillion yen, while imports slumped an annual 18.2 percent to 8.643 trillion yen for a trade deficit of 749.5 billion yen.

The capital account showed a deficit of 6.4 billion yen, while the financial account had a surplus of 2.987 trillion yen.

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SOUTH KOREA HAS $4.81 BILLION CURRENT ACCOUNT SURPLUS IN AUGUST



South Korea posted a current account surplus of $4.81 billion in August, the Bank of Korea said on Wednesday - up from $3.58 billion in July.

The goods account recorded a $5.06 billion surplus, while the services account posted a $1.60 billion deficit owing to a deficit in the travel account.

The primary income account recorded a $1.47 billion surplus due to an increase in interest income. The secondary income account recorded a $0.12 billion deficit.

Looking at the financial account, net assets increased by $5.73 billion during August. Direct investment assets increased by $3.41 billion, and direct investment liabilities increased by $1.70 billion.

There was a $3.05 billion increase in portfolio investment assets during the month, and a $1.01 billion decrease in portfolio investment liabilities.

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EUROPEAN ECONOMIC NEWS PREVIEW: UK GDP DATA DUE



GDP, industrial production and foreign trade from the UK are due on Thursday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics publishes UK GDP, industrial output and foreign trade figures.

The economy is forecast to grow 0.2 percent on month in August, in contrast to the 0.5 percent decrease in July.
At 4.30 am ET, the Bank of England publishes Credit Conditions survey results.

At 6.00 am ET, consumer price figures are due from Ireland and Portugal.

At 7.30 am ET, the European Central Bank releases the account of the monetary policy meeting of the Governing Council held on September 13 and 14.

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CHINA EXPORTS FALL LESS THAN EXPECTED



China's exports declined less than expected in September, data from the General Administration of Customs showed on Friday.

Exports registered a decrease of 6.2 percent in September compared to the previous year. This was slower than the expected decline of 7.6 percent and the 8.8 percent fall seen in August.

At the same time, imports also decreased 6.2 percent annually, slower than the 7.3 percent fall in August. Imports were forecast to drop 6.0 percent.

Consequently, the trade surplus rose to $77.7 billion from $68.4 billion in August. The expected level was $70.0 billion.

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CHINESE YUAN FALLS TO NEAR 3-WEEK LOW AGAINST U.S. DOLLAR



The Chinese yuan weakened against the U.S. dollar in the Asian session on Monday.
Against the greenback, the yuan fell to nearly a 3-week low of 7.3098 from Friday's closing value of 7.3049.
If the yuan extends its downtrend, it is likely to find support around the 7.33 region.
The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

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EUROPEAN ECONOMIC NEWS PREVIEW: UK UNEMPLOYMENT DATA DUE



Unemployment from the UK and economic sentiment from Germany are the top economic news due on Tuesday.
At 2.00 am ET, the Office for National Statistics is scheduled to issue UK labor market statistics. The jobless rate is seen unchanged at 4.3 percent in three months to August. At the same time, average earnings growth including bonus are forecast to grow at a slower pace of 8.3 percent after an increase of 8.5 percent in three months to July.
At 5.00 am ET, Germany's ZEW economic confidence survey data is due. The confidence index is forecast to improve to -9.3 in October from -11.4 in September. At 7.50 am ET, European Central Bank's supervisory board member Kerstin af Jochnick is set to speak at a conference in Berlin.

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CHINA GDP CLIMBS 4.9% ON YEAR IN Q3



China's gross domestic product expanded an annualized 4.9 percent on year in the third quarter of 2023, the National Bureau of Statistics said on Wednesday.

That beat forecasts for a gain of 4.4 percent but was still down from the 6.3 percent growth in the second quarter.

On a seasonally adjusted quarterly basis, GDP gained 1.3 percent - again exceeding expectations for 1.0 percent following the 0.5 percent increase in the three months prior.

The bureau also noted that industrial production was up 4.5 percent on year, beating forecasts for 4.3 percent and unchanged from the August reading.

Retail sales rose an annual 5.5 percent, topping expectations for a gain of 4.5 percent and up from 4.6 percent in the previous month.

Fixed Asset Investment rose 3.1 percent on year, missing forecasts for 3.2 percent, which would have been unchanged from August.

The jobless rate came in at 5.0 percent, below forecasts for 5.2 percent, which would have been unchanged.

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AUSTRALIA UNEMPLOYMENT RATE SLIPS TO 3.6% IN SEPTEMBER



The jobless rate in Australia came in at a seasonally adjusted 3.6 percent in September, the Australian Bureau of Statistics said on Thursday.

That beat forecasts for 3.7 percent, which would have been unchanged from the August reading.
The Australian economy added 6,700 jobs last month, shy of expectations for an increase of 18,000 following the addition of 64,900 jobs in the previous month.

The participation rate was 66.7 percent, below forecasts for 67.0 percent, which would have been unchanged.

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