Market WATCh Weekly 3 September 2021

Market WATCh Weekly 3 September 2021

September 3, 2021

In Australia, New South Wales and Victoria continued to see higher COVID-19 cases this week.
Aussie real GDP grew more than expected in Q2. Data for July saw dwelling approvals fall and new home loans edge higher, while private sector credit outstanding continued to grow, supported by a solid rise in business credit. The current account surplus rose to a fresh record high in Q2 and there was a record trade surplus in July.
In the US, the ADP employment report saw a smaller than expected increase, while the ISM manufacturing PMI pointed to renewed acceleration in manufacturing activity growth. According to official and unofficial PMI reports, Chinese economic activity slipped into contraction in August.

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