Market WATCh Weekly 2 July 2021

Market WATCh Weekly 2 July 2021

July 2, 2021

Half of Australia’s capital cities, including Perth, were in lockdown this week after recording cases of COVID-19 community transmission. It was a positive week data-wise, however, with housing loans rising to a fresh all-time high in May, which was followed by further increase in home prices in June. The trade surplus widened in May, helped by record iron ore exports. In the US, the ADP employment report and ISM manufacturing PMI both missed expectations but continued to point to a strong recovery. The official Chinese PMIs pointed to somewhat slower economic growth, particularly in services.

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