Market WATCh Weekly 25 June 2021

Market WATCh Weekly 25 June 2021

June 25, 2021

In Australia, after a significant rise in the number of new COVID-19 cases, a lockdown was announced for parts of Sydney, effective midnight tonight. The most recent lockdown in Victoria put a drag on the May retail sales figures as well as payrolls for the turn of May and June. The merchandise trade surplus rose to a fresh all-time high, helped by record iron ore exports. Offshore, after hawkish comments by some Fed officials, fed funds rate hike expectations have shifted to early 2023. The flash PMI reports pointed to ongoing solid expansion in activity in all the major advanced economies but Japan. The Bank of England left its monetary policy settings unchanged, as expected.

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