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Dire Japanese PMIs depict downside risks

Emily Nicol
Chris Scicluna
  • A marked deterioration in the Japanese PMIs illustrated the widespread downside risks to the economic outlook as supply and demand in the region continues to be impacted by the coronavirus. 

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Aussie jobless rate rises

Emily Nicol
Chris Scicluna

Chinese stocks rebounded as the number of new coronavirus cases in Hubei fell sharply and the PBoC confirmed a 10bp cut in the benchmark 1Y loan prime rate. But other Asian equity indices were mixed while the yen slid again and the dollar continued to appreciate. A rise in the Aussie unemployment rate provided a reminder why an RBA rate cut remains possible this year. 

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Japanese exports and orders disappoint (again)

Emily Nicol
Chris Scicluna
  • Japan's trade and machine orders data suggested a soft start to the year for economic activity. And while Australia's wage and vacancy figures were mixed, a government report suggested that the agricultural sector could weigh more heavily on economic growth this year than previously thought. 

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Aussie sentiment survives bushfires

Emily Nicol
  • While Apple's sales miss prediction weighed on Asian markets, a survey suggested that Australian businesses judged the impact of the bushfires to have been less severe than the Queensland floods early last decade.  

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Japan’s GDP contracts sharply

Emily Nicol
  • The first estimate of Japan’s Q4 GDP came in  much weaker than expected, with steep declines in private consumption and investment, offset in part by firmer government spending and a fall in imports.  

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