Japan wages data for May, Labor cash earnings: -2.1% y/y (expected -1.0%)
Labor cash earnings -2.1% y/y
- expected -1.0% y/y, prior -0.7%
Real cash earnings -2.1% y/y
Australia weekly consumer confidence 92.1 (prior 93.0)
- consumer confidence in economic conditions deteriorated
- While the return to lockdown has so far been localised to 12 Melbourne postcodes, the confidence effect is more pervasive.
ANZ second comment related to the surge in cases in Australia's second largest city, Melbourne
Japan - Tokyo records 5th consecutive day of +100 new coronavirus cases
I'm awaiting the number from Australia, yesterday's was over 100 just in the city of Melbourne.
EU threatens retaliation against the US if it puts tariffs on EU goods (Boeing - Airbus)
This is part of the 15 year trade ware the two have been engaged in on subsidies for Airbus.
New Zealand - NZIER economist says contraction in GDP will not be as severe
Chief economist of NZIER interviewed by bbg Bloomberg says:
activity gauge indicates annual GDP fall will be 2% in Q2
not as severe
President Bolsonaro of Brazil is said to be displaying symptoms of coronavirus
Let's hope he does not have it, or if so he recovers soon. Countless Brazilians have not been so fortunate.
Australia Services PMI for June: 31.5 (prior 31.6)
Well, that sucks.
Last week was the other services PMI from Australia
NZ data - NZIER Quarterly Survey of Business Opinion: - sharp drop in business activity
- (prior -70%)
Main points, in summary:
The UK 6 month stamp duty holiday may take effect immediately from Wednesday
He is to deliver the report on Wednesdy
Latest word from the UK is Sunak is now planning to announce this stamp duty holiday will take effect immediately from Wednesday due to fears that delaying it would bring
BoE Governor Bailey will postpone his meeting with government members
- 1922 committee
Chancellor Sunak is scheduled to deliver a statement on Wednesday, it appears the Bank did not want Bailey's meeting to clash with this.