Westpac Economics Weekly Update

Elliot Clarke

This week, global data remained underwhelming, with soft housing data in the US and weak trade data in China. However, both results have more to do with volatility than a further deterioration in momentum. Meanwhile, markets drew support from the cautious tone of policy makers in Europe and the US, with risk assets posting a solid rebound from last week's lows. In Australia, the January labour force data gave the RBA pause for thought as the unemployment rate rose back to 6.0%.


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