Market WATCh Weekly 5 February 2021

Market WATCh Weekly 5 February 2021

February 5, 2021

In Australia, the RBA extended its bond buying program beyond April. Incoming data suggested the economic recovery continues, with the value of new home loans and the number of private house approvals both reaching all-time highs in December and the PMI indices pointing to an acceleration in economic growth in January. Retail sales slipped in December after rising strongly the month before.
Offshore, US economic data releases, particularly the ISM Services PMI, ADP Employment and initial jobless claims reports, surprised mostly to the upside this week. However, the Chinese PMIs disappointed, dragged down by COVID-19 at home and abroad.

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