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

A gauge of U.S. service industries dropped more than forecast in June to the weakest in almost two years, led by a cooling in employment that may further temper optimism about the labor market heading into Friday's jobs report. The non-manufacturing index fell to 55.1 from 56.9, according to an Institute for Supply Management survey Wednesday. Three of the gauge's four components...

The U.S. created a seasonally adjusted 102,000 private-sector jobs in June, payrolls processor ADP said Wednesday, up from a revised 41,000 in May. Economists polled by Econoday expected 140,000 new jobs. Mays numbers were revised higher by 14,000. What happened: Large businesses led the growth in June, adding 65,000 jobs. Small businesses are struggling, losing 23,000 jobs. By sector,...

The Australian trade balance for May 2019 has arrived as follows, Surplus: AUD$5.745m vs the expected AUD$5250m surplus, the prior was AUD$4871m surplus. This follows Australias trade position swinging from deficit end-2017 to growing surpluses through 2018 and a record high A$5.0bn in Feb 2019. Analysts at Westpac said that a surge in the value of resources exports has been the main driver...

A gauge of U.S. factory activity fell in June by less than forecast as output and jobs improved though new orders stalled, highlighting the repercussions of trade uncertainty and slower growth abroad. The Institute for Supply Management index dropped to 51.7, the third straight decline and the weakest level since October 2016, the groups data showed Monday. Still, that topped the...

China's June Caixin manufacturing PMI came in at 49.4 vs. 50.0 expected and 50.2 last, as modest fall in new work dragged production into contraction. On Sunday, the purchasing managers' index (PMI) for China's manufacturing sector arrived at 49.4 in June, the same as that seen in May, the National Bureau of Statistics (NBS) reported. June data highlighted a challenging month for Chinese...

The UK GDP second estimate showed that the economy expanded by 0.5% q/q in the first quarter of 2019, the same as that seen in the first readout, while matching the consensus forecasts. While on an annualized basis, the UK economys growth rate arrived at 1.8% in Q1, matching the expectations of 1.8% and unchanged from 1.8% previous reading. Separately, the UK total investment data arrived...

The number of people who applied for unemployment benefits in late June jumped to the highest level in almost two months, though so-called jobless claims continued to remain extremely low and reflect little sign that the labor market is deteriorating. Initial jobless claims, a rough way to measure layoffs, climbed by 10,000 to 227,000 in the seven days ended June 22, the government said...

The pace of growth in the U.S. economy in the first three months of 2019 was left at 3.1%, revised government figures show, as stronger business investment offset a weaker increase in consumer spending. Most economists predict growth will taper off in the second quarter, however. The first quarter benefited from a surprisingly large increase in inventories of unsold goods as well as an improved...

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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