After being the household spending being hit, Australian wages grew at their slowest pace on record in the second quarter. The official wage price index (WPI) rose 0.2% in the three months to the end of June. That was below the already subdued 0.3% forecast and the 0.5% growth seen in the previous quarter. The [...]
Japan's current account surplus shrank 31.4 percent in the first half of 2020 from a year earlier to 7.31 trillion yen ($69 billion), marking the lowest level in over five years as exports and spending by visitors from overseas were hit hard by the corona virus pandemic, government data showed. While the actual figure bettered [...]
USD became stronger, assisted by a stronger-than-expected nonfarm payrolls release. The escalated US-China tension is also grows creating a concern around the investors. As previously foreshadowed, Trump announced an executive order on Friday that would ban Tik Tok in the US in 45 days time. Unexpectedly, the executive order also singled out instant messaging app [...]
Fundamental view: Last week the Euro followed bullish rally until Non-Farm Payroll announcement came out on Friday which changed the trend drastically. US Final Manufacturing PMI on 3rd Aug, US ISM Non-Manufacturing PMI on 5th Aug, and USD Non-Farm Employment Change 7th Aug created a bearish environment for the pair whereas Italian Industrial Production monthly [...]
