Guardian Stockbrokers Key Economic News Tuesday 18 August 2020

The key points from today’s economic news, brought to you by Guardian Stockbrokers.

US housing market index rose more-than-expected in August

In the US, the housing market index registered a rise to a level of 78.00 in August, compared to a reading of 72.00 in the prior month. Markets were expecting the housing market index to record a rise to a level of 73.00.

US NY Empire State manufacturing index dropped in August

In the US, the NY Empire State manufacturing index registered a drop to a reading of 3.70 in August, compared to a level of 17.20 in the prior month. Market anticipations were for the NY Empire State manufacturing index to ease to a level of 16.50.

RBA minutes: No further easing of monetary policy for now

Minutes of the Reserve Bank of Australia’s (RBA) August meeting signalled that Australia’s central bank does not see a need to further ease policy for now as its package of measures were working “broadly as expected” with an economic recovery underway in most parts of the country. However, the RBA indicated that the recovery was likely to be slower than earlier expected as Victoria is having a major impact on the economy due to the Covid-19 outbreak.

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