Market WATCh Weekly 25 September 2020

Market WATCh Weekly 25 September 2020

September 25, 2020

In Australia, retail sales fell in August, dragged down by the lockdown in Victoria, and payroll jobs declined in the two weeks to the 5 September. The Composite PMI crept back into expansion territory in September, led by manufacturing, while activity in services sector stabilised. The RBA Deputy Governor discussed options for further monetary policy easing, sparking speculation on possible interest rate cuts in October. Abroad, the flash PMI reports pointed to ongoing recovery in the US and Europe in September. The US labour market recovery appears to have stalled, yet the US housing market data remained strong.

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