Markets are looking for the Reserve Bank of Australia to cut again, potentially as soon  as next month, so today's  labour force survey for September will be very closely watched (Markets are pricing 10bp of easing at the 5 Nov RBA meeting, and a terminal rate of 0.44% (RBA cash rate currently at 0.75%). Australia Sept Employment +14.7k (Reuters poll: +15.0k) - A miss. Australia Sept Unemployment rate +5.2 pct, (Reuters poll: +5.3/prior 5.2%) and bullish. Australia Sept Full-Time employment +26.2k  vs prior 15.5k, bullish. Australia Sept Participation rate +66.1 pct,...

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RECENT NEWS

The German economy shrank in the second quarter, dragged down by a slump in exports, preliminary data showed on Wednesday, as manufacturers in Europe's largest economy are hit by weaker foreign demand and trade disputes. Gross domestic product (GDP) fell 0.1% quarter-on-quarter after a confirmed growth rate of 0.4% in the first three months of the year, the Federal Statistics Office said. The...

Australian wages growth was better than expected in the second quarter as a result of a strong lift in pay for public servants, although the Reserve Bank of Australia remains likely to lower interest rates again before the year-end. Wages rose a seasonally adjusted 0.6% compared to the first quarter and rose by 2.3% from a year earlier, the Australian Bureau of Statistics said Wednesday....

According to the data published by the US Bureau of Labor Statistics (BLS), inflation, as measured by the Consumer Price Index (CPI), rose 0.3% on a monthly basis in July following June's reading of 0.1% and came in line with the market expectation. The annual CPI in the same period rose to 1.8% to beat analysts' estimate of 1.7%. Further details of the report revealed that the core CPI, which...

Unemployment in the three months to June rose a tenth to 3.9%, the Office for National Statistics said Tuesday. The number of jobless claimants rose 28,000, while average weekly earnings including bonuses were up 3.7%. Economists were expecting a 3.8% unemployment rate, a 20,000 rise in claimants and 3.7% wage growth, according to a Factset-compiled consensus. Source: Marketwatch

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, with the overall industrial activity witnessing a downturn in June. Manufacturing output arrived at -0.2% m/m in June versus -0.1% expectations and +1.4% booked in May, while total industrial output came in at -0.1% vs. -0.2% expected and +1.2%...

A gauge of service industries declined in July to an almost three-year low as orders continued to cool, indicating a sluggish start to the third quarter for the biggest part of the economy. The non-manufacturing index fell to 53.7, the weakest since August 2016 and well below the median forecast of economists, data from the Institute for Supply Management showed Monday. While still...

U.S. employers kept adding workers at a healthy pace in July and wage gains picked up, underlining a solid labor market ahead of this week's Federal Reserve interest-rate cut and President Donald Trump's threat to ratchet up tariffs on Chinese goods. Payrolls rose 164,000, almost matching projections, though the two prior months were revised lower, according to a Labor...

The Australian Retails Sales have landed with a mixed picture. "The slow wages growth and soft consumer sentiment even with the RBA rate cut suggest another underwhelming month," analysts at Westpac explained. For Q2 inflation-adjusted sales, they looked for a 0.3%qtr rise, in line with consensus. "This compares to -0.1%qtr in Q1 but bear in mind that the retail sales survey captures only a...

ASIA
China's Factory Outlook Improves More than Expected in September
Monday, 30 September 2019 09:02 WIB A report on the health of China™s manufacturing sector improved in September, although it was still below the line indicating contraction. The...
UNITED STATES
U.S. Trade Deficit Narrows as Exports, Imports Both Plummet
Thursday, 6 June 2019 19:54 WIB The U.S. trade deficit narrowed in April as both exports and imports tumbled, highlighting the impact of President Donald Trump™s tariffs...
EUROPE
German Services Hold Up Output as Manufacturers Struggle
Friday, 21 June 2019 14:53 WIB Output from Germany's private sector remained unchanged in June, as a decline in manufacturing was offset by continued growth in services. A flash...
GLOBAL ECONOMY
Trump Mengatakan China Akan `Mengurangi dan Mengeluarkan' Tarif Impor Kendaraan
Monday, 3 December 2018 12:08 WIB Presiden AS Donald Trump mengatakan China telah setuju untuk "mengurangi dan menghapus" tarif terhadap mobil-mobil Amerika dari 40 persen saat...

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