Market WATCh Weekly 4 June 2021

Market WATCh Weekly 4 June 2021

June 4, 2021

In Australia, GDP rose above pre-COVID levels in Q1, while the current account surplus hit another all-time high. Dwelling approvals fell somewhat in April but private house building consents rose to a fresh record as did the value of new home loans. The RBA left its monetary policy settings unchanged at the June meeting. Offshore, the US ADP employment report saw private payrolls rise at the fastest pace since June 2020, while the ISM Services PMI hit another all-time high in May. The Chinese PMIs also pointed to ongoing expansion.

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