Market WATCh Weekly 16 July 2021

Market WATCh Weekly 16 July 2021

July 16, 2021

In Australia, the Sydney lockdown was extended until at least 30 July and the Victorian government announced a five-day lockdown for the entire state. June saw another solid increase in Australian employment, which pushed the unemployment rate below 5% for the first time in a decade. Business confidence and conditions deteriorated in June, which was followed with an improvement in consumer confidence in July. US CPI inflation surged in June, supported by faster growth in prices for used cars and trucks. Chinese economic growth rates have normalised, with annual GDP growth no longer distorted by the low base in Q1 2020. Steel production fell but remains elevated. The Chinese trade balance has re-widened, while iron ore imports are still high by historical standards.

Download PDF