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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
US NAHB housing market index dropped in August
In the US, the NAHB housing market index fell to a level of 49.00 in August, compared to a reading of 55.00 in the prior month.
US NY Empire State manufacturing index declined more than expected in August
In the US, the NY Empire State manufacturing index fell to a level of -31.30 in August, compared to a reading of 11.10 in the previous month. Markets were expecting the manufacturing index to fall to 8.50.
RBA minutes signal interest rate hikes in near future
Minutes of the Reserve Bank of Australia (RBA) monetary policy meeting signalled about further interest rate hikes in the period ahead while restating that it will be guided by incoming economic data and the inflation outlook. Further, the board expects to take steps in the process of normalizing monetary conditions over the months ahead.
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