Australia remains one of nine nations to have an AAA credit ratingsaid Australian Treasurer Josh Frydenberg after US-based Fitch Ratings confirmed the AAA top-tier rating for the country’s economy. Frydenberg tweeted: “Fitch says we have weathered the pandemic well compared to our peers and that the Australian labor market appears to be on a stable […]
Tag: Australia
Frydenberg says falling unemployment rate shows remarkable resilience of the economy
Following the release of Australia’s mixed employment data for January, the country’s Secretary of the Treasury, Josh Frydenberg, has said he is confident the job market can remain resilient. Key Comments: “The latest employment figures are a good news for Australia, with the unemployment rate falling to 6.4% from 6.6% in January. “ “This shows […]
Employment rises by 29,100 in January compared to the expected 40,000
Australia’s January jobs report has shown that the economy added 29,100 new jobs, down from initial expectations of 40,000. Nevertheless, the unemployment rate improved to 6.4%, improving expectations of 6.5% and falling from 6.5% the previous month, which has helped the Australian dollar hold its own against its rivals. Additional report details: Full time employment: […]
The January CPI falls to -0.3% year-on-year compared to the 0% expected
The CPI consumer price index and IPP producer price index, published by the National Bureau of Statistics of China, have come as follows: Consumer’s price index January CPI -0.3% year-on-year (Reuters survey 0.0%). January CPI + 1.0% MoM (Reuters poll + 1.0%) January food CPI + 1.6% year-on-year. CPI excluding January food -0.8% year-on-year. Producer […]
The RBA keeps its interest rates at 0.1% and expands the QE
At their first monetary policy meeting of 2021 held today Tuesday, February 2, the members of the board of the Reserve Bank of Australia (. Donald WestbrookDonald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging […]
Fourth quarter CPI exceeds estimates
Today the consumer price index was released Australia Q4 CPI. The data has arrived as follows: RBA trimmed average CPI: + 0.4% QoQ (Reuters poll + 0.4%). RBA trimmed average CPI: + 1.2% YoY (Reuters poll + 1.2%). CPI (all groups): + 0.9% quarter-on-quarter (Reuters poll + 0.7%). CPI (all groups): + 0.9% year-on-year (Reuters […]
The world closes borders in the face of the pandemic as protests over curfews increase
Several countries on Monday reinforced restrictions on their borders in the face of the incessant threat of the coronavirus, amid new protests against curfews, which in the Netherlands caused riots. The United States joined France, Israel and Sweden in limiting certain arrivals, responding to concerns about new strains of the virus originating in the […]
Treasury Secretary Frydenberg says trade relationship with China is very important and mutually beneficial
Australia wants it to improve its “mutually beneficial” relationship with Chinasaid the country’s Secretary of the Treasury, Josh Frydenberg, in an interview with CNBC before the World Economic Forum in Davos. Key Comments: “The China-Australia trade relationship is … very important“. “It is of mutual benefit. Our raw materials have helped underpin China’s economic growth […]
Australian retail sales plummet 4.2% in December, AUD / USD falls to 2-day lows
The Australian retail sales fell 4.2% in December, a sharp decline after the rise of 7.1% experienced in November and the increase of 1.4% seen in October. This is the biggest drop registered by the indicator since last April, in the middle of the first wave of the pandemic, when retail sales plunged 17.7%. AUD […]
Employment data exceeds expectations
The Australian Bureau of Statistics has released the December Labor Force Survey. Details: Employment in December: +50,000 (seasonally adjusted) (Reuters poll: +50,000). Unemployment rate: + 6.6% (seasonally adjusted) (Reuters poll: + 6.7%). Full time employment: + 35,700 (seasonally adjusted). Participation rate: + 66.2%, (seasonally adjusted) (Reuters poll: + 66.2%). Description of the unemployment rate The […]
