Google Ad

US Consumer price inflation (CPI) for May was 0.2% as expected. YoY was 2.8% as expected also. However Real average earnings rose 0.3% lower than 0.4% last month and ral average hourly earnings YoY 0.0% vs 0.2% last month.

With tariffs and trade wars now dinner conversation the US April trade deficit has been a hot topic. In April the US had a $46.2 billion deficit lower than the $49.0 billion expected and previous $50.0 billion. The deficit with China rose over $2 billion.

Australia’s major cities home prices fell for the eighth straight month in May, marking the first annual decline in 6 years. Tighter lending conditions at banks following the banking Royal commission and affordability issues say demand in Sydney and Melbourne soften. 

Moody's Investors Service issued it's latest report on China saying the country's faster pace of change in the economy' structure is credit positive and derisking is progressing in some areas, with some advances in structural change; policy trade-offs are arising.

Italy is to pass a flat tax for companies next year the new government announced Monday. Flat taxes will be introduced for familes also but there are conflicting reports on when.

May auto sales are stronger than expected with Ford sales up 0.50% and Fiat Chrysler up 11%. Recall General Motors $GM only report quarterly now. Car sales give us insight to consumer trends.

U.S. May non farm payrolls were higher at 223,000 then the expected 190,000, following April when NFP added only 164,000 jobs. We are still digesting the robust February gain of 313,0000 jobs, the most since July 2016. Fed rates have doubt after hourly earnings.

Australia's annual BRW rich list is out and not surprising property is the main source of wealth creation in Australia at this time. Carboard and recycling magnate Anthony Pratt is Australia's wealthiest but property was the source of 51 of the top 200 rich list.

The ever growing Chinese debt is the greatest risk to Australia the Reserve Bank of Australia Governor said, as the two countries economies become more entwined more industries are at risk. China is now Australi'as largest trading partner.

U.S. Treasury Secretary Steven Mnuchin said on T.V. Sunday that the U.S. and China have put the trade war between the two “on hold” after both nations agreed to drop their tariff threats while formulating a wider trade agreement.

Google ads