Daily Digest Market Movers: New Zealand Dollar remains weak on dovish RBNZ
- New Zealand’s Business NZ Performance of Manufacturing Index (PMI) improved to 44.0 in July from the previous reading of 41.1.
- China’s Retail Sales rose by 2.7% YoY in July, compared to 2.0% seen in June, beating market expectations. Industrial Production came in at 5.1% YoY in July versus 5.3% prior, weaker than the estimation of 5.2%.
- The US Retail Sales climbed by 1.0% MoM in July, compared to a decline of 0.2% in June, the US Census Bureau reported on Thursday. This figure surpassed the estimation of a 0.3% increase.
- The Initial Jobless Claims for the week ending August 10 increased by 227K, better than the expectation of 235K and down from the previous week of 234K.
- US Industrial Production came in at -0.6% in July versus 0.3 prior, weaker than the 0.3% expected.
- St. Louis Fed President Alberto Musalem said on Thursday that the time is coming closer for the Fed to consider cutting its interest rate, per Reuters.
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