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Japanese survey disappoints, Aussie employment exceeds expectations

Chris Scicluna
Emily Nicol
  • Japanese data provided mixed messages about the economic outlook, with services activity more encouraging in April, but a government survey signalling a deterioration in conditions. In Australia, employment growth exceeded expectations, but the unemployment rate still remained higher than the trend. 

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Buoyant Japanese orders, well-behaved Chinese inflation, & downbeat Aussie consumers

Chris Scicluna
Emily Nicol
  • A downbeat tone to Asian markets contrasted some upbeat Japanese machine orders data. But Aussie consumer confidence deteriorated while Chinese inflation rose on foods pressures while the core CPI measure edged lower. 

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Chinese stimulus and Aussie sentiment

Chris Scicluna
Emily Nicol

Asian equities extended the relief rally, buoyed particularly by news of extra Chinese stimulus. Aussie stocks posted a new post-GFC high but ACGB yields approached record lows as the latest NAB survey provided mixed messages. After yesterday's dire GDP data, the UK's labour market report is arguably the most notable of the day's new releases.  

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Japanese GDP upwardly revised, Chinese exceeds expectations

Chris Scicluna
Emily Nicol
  • Japanese GDP growth was revised higher in Q1, but today's economy watchers survey provided a bleak assessment of the near-term outlook. But the latest Chinese trade report was more positive, with exports exceeding expectations in May. 

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Sluggish Japanese wages, slumping German output

Chris Scicluna
Emily Nicol
  • Japanese wage growth remained sluggish in April while consumer spending indcators provided mixed messages. But the latest German data stood out, with production and exports posting their steepest declines in almost four years.   

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