Market WATCh Weekly 13 August 2021

Market WATCh Weekly 13 August 2021

July 13, 2021

• In Australia, New South Wales COVID-19 cases hit a record high on Thursday. Lockdowns have been expanded to more parts of New South Wales, while the Australian Capital Territory was also placed in a lockdown after recording its first COVID-19 case in a year. The lockdown was extended by a week for Melbourne but was lifted for regional Victoria.

• The lockdowns in the eastern states translated into a significant deterioration in the business conditions and confidence indicators for July as well as a drop in the consumer confidence indices in early August.

• Elsewhere, US initial jobless claims continued to fall last week. US CPI inflation eased in July but PPI inflation was still elevated. Cost pressures continue to mount in China, yet consumer price inflation remained subdued.

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