Market WATCh Weekly 20 August 2021

Market WATCh Weekly 20 August 2021

August 20, 2021

In Australia, New South Wales COVID-19 cases jumped significantly this week, prompting the authorities to extend the Greater Sydney lockdown until the end of September. The Melbourne lockdown was also extended by another two weeks. The labour market report saw hours worked decline and the underemployment rate rise in July, due to the Sydney lockdown. The ANZ consumer confidence index rose back into the positive territory last week. Offshore, US retail sales declined in July as the impact of the stimulus wanes. Chinese economic activity data for July came out weaker than expected, with steel output seeing a strong decline but remaining elevated.

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