Consumption in Australia, represented by retail sales, fell less than expected in September, the Australian Bureau of Statistics (ABS) reported on Wednesday. Retail sales were at -1.1% MoM, compared to the prior month’s reading of -1.5%, which was also today’s forecast. The Australian retail sales excluding inflation for the third quarter it stands at + […]
Tag: Australia
China orders traders to halt key Australian commodity imports – Bloomberg
China ordered commodity traders to halt imports of products such as coal, barley, copper ore and concentrate, sugar, timber, wine and lobster from Australia, Bloomberg reports, citing people familiar with the situation. AUD / USD reaction The Australian dollar, which fell to daily lows of 0.7027 after the RBA’s announcement to cut its rates to […]
Australia’s CPI grows more than expected in the third quarter; AUD / USD rises to two-day highs
The Australian Consumer Price Index for the third quarter rose 1.6%, surpassing the 1.5% expected and notably improving the -1.9% decline in the second quarter of the year. This is the largest rise seen by the indicator since the first quarter of 2011. The Year-on-year CPI grew 0.7%, as expected, after falling 0.3% in the […]
Australia loses 29,500 jobs in September, the unemployment rate rises to 6.9%; AUD / USD falls to week lows
Australia lost 29,500 jobs in September, up from 35,000 expected, after 111,000 jobs were gained in August. This is the first month of job loss after three consecutive months of job creation. Of the 29,500 jobs lost, 20,100 are in full-time jobs, while 9,400 are part-time jobs. The unemployment rate has grown one tenth, from […]
The IMF improves its forecasts for the large developed economies with only one exception: Spain
The International Monetary Fund (IMF) estimates that the coronavirus has launched into “extreme poverty“- that is, to live on less than 1 dollar with 61 cents a day – 90 million people, the equivalent of twice the population of Spain. It has caused the greatest crisis in history since the Great Depression that occurred 90 […]
Huawei says US charges are an attempt to ‘irrevocably damage’ its image
Chinese telecom giant Huawei announced on October 16, 2019 that it has passed the 400,000 5G antennas mark, the fifth generation of mobile phones, in the world with 56 operators who have already started to roll out the new mobile network. STEFAN WERMUTH | AFP | Getty Images Chinese tech giant Huawei said new charges […]
Jeff Bezos says Amazon is donating $690,000 to Australian bush fire efforts
Jeff Bezos, founder and CEO of Amazon, pictured on September 13, 2018. Bloomberg | Getty Images Billionaire Amazon founder Jeff Bezos has announced his company will donate $690,000 to bush fire relief efforts in Australia. In an Instagram post on Sunday, Bezos pledged 1 million Australian dollars ($690,000) on behalf of the tech giant — […]
