Market Comment |
Australia |
| The S&P/ASX 200 index was flat on Wednesday.Australia’s GDP rose 0.2% QoQ in 2Q (vs +0.4% expected, +0.9% in 1Q), according to the Australian Bureau of Statistics. On a YoY basis, it rose 2% in 2Q (vs +2.2% expected, +2.5% in 1Q)
New Zealand’s ANZ commodity price declined 5.2% in August vs -5.5% in July, released by ANZ Bank New Zealand. |
Foreign Exchange |
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| The US dollar was mixed against its major counterparts on Wednesday. On the US economic data front, MBA Mortgage applications rose 11.3% for the week ending August 28 compared to a gain of 0.2% the week before. ADP reported U.S. firms added 190K jobs in August compared to a revised 177K in July below the 200K estimate. Factory orders increased 0.4% in July compared to a revised 2.2% increase in June (0.9% estimate).
The Euro was under pressure against all its major counterparts with the exception of the CHF. In Europe, PPI index fell by 0.1% in July, as expected, after being flat in June (revised from -0.1%). UK PMI construction index was up to 57.3 in August vs 57.1 a month earlier. Yet, economists anticipated 57.5. The Australian dollar pushed higher against its major pairs. |
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