Market news today

Retail sales in Australia larger than forecast

Australian retail turnover rose 1.3 per cent in July 2022, the largest rise in four months, according to the Retail Trade figures released today by the Australian Bureau of Statistics (ABS). This increase is much higher than the forecast 0.3%. The rise in July follows a 0.2 per cent rise in June 2022 and 0.7 per cent rise in May 2022.

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It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity. This means that consumers during this period spent significantly more money on retail products than in the previous period.

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Department stores had the largest rise, up 3.8 per cent, followed by clothing, footwear, and personal accessory retailing (3.3 per cent), cafes, restaurants, and takeaway food services (1.8 per cent), other retailing (1.6 per cent) and food retailing (1.2 per cent). The increase in these areas could be due to the holiday season. Whereas household goods retailing fell down 1.1 per cent in July 2022.

Source: https://www.investing.com/, https://www.abs.gov.au/

Speeches of Board Members

Philip R. Lane, member of the Executive Board of the European Central Bank, will provide guidance on the future possible direction of monetary policy in his speech.

Today also will be speaching Federal Reserve System Vice Chair Lael Brainard.

Philip R. Lane's audience will start at 3:00 PM Central European Summer Time and Lael Brainard's speech at 8:15 PM

Japan Coincident Indicator

Japan recorded a slight decrease of 0.4% in its Coincident Indicator compared to the previous period. The coincident index consists of the following components:

• Index of industrial production (mining and manufacturing);
• Index of consumption of raw materials (manufacturing);
• Large industrial power consumption;
• Index of capacity utilization ratio (manufacturing);
• Index of non-scheduled worked hours;
• Index of producer's shipment (investment goods);
• Sales at department stores (percent change from the previous year);
• Index of sales in wholesale trade (percent change from the previous year);
• Operating profits (all industries);
• Index of sales in small and medium sized enterprises (manufacturing);
• Effective job offer rate (excluding new school graduates).

 

Brazil CAGED Net Payroll Jobs

Employment is the total number of persons above a specified age, who in a short reference period (e.g. a week or a day), were in paid employment or self-employment. Paid employment includes persons who worked in the reference period or who had a job but were temporarily absent from work. Self-employment includes persons who either worked in the reference period or were temporarily absent from work.Series data show evolution of formal employment in Brazil. It is measured by the movements declared in CAGED - Cadastro Geral de Empregados e Desempregados (General Register of Employment and Unemployment) of the Ministry of Labour. Brazil CAGED Net Payroll Jobs increased compared to the previous month and reached a level higher than expected. The increase was recorded at 277.02K and is higher by 80.05K in comparison to the previous month. The forecast for this month was 192.75K.

 

The Dallas Fed conducts still decreasing

The Dallas Fed conducts the Texas Manufacturing Outlook Survey monthly to obtain a timely assessment of the state factory activity. Firms are asked whether output, employment, orders, prices and other indicators increased, decreased or remained unchanged over the previous month. Survey responses are used to calculate an index for each indicator. Each index is calculated by subtracting the percentage of respondents reporting a decrease from the percentage reporting an increase. As shown by data from the U.S. Dallas Fed Mfg Business Index fell again to the level of -22.6, which is 4.9 lower than the previous one. Since May, the level has remained below zero. This means that more companies announce a decline than an increase