Guardian Stockbrokers Key Economic News Tuesday 21 July 2020

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

Euro-zone current account surplus unexpectedly narrowed in May

In the Euro-zone, current account surplus unexpectedly narrowed to €8.00 billion in May, compared to a current account surplus of €14.40 billion in the previous month. Markets expected the seasonally adjusted current account surplus to widen to €19.10 billion.

German PPI dropped more than expected in June

In Germany, the producer price index (PPI) fell 1.8% on a YoY basis in June, compared to a drop of 2.2% in the previous month. Markets were expecting the PPI to record a drop 1.5%.

Japanese national CPI rose in June

In Japan, the national consumer price index (CPI) rose 0.10% on a YoY basis in June, compared to a similar rise in the prior month.

RBA minutes: Current policy to stay as long as needed

Minutes of the Reserve Bank of Australia (RBA), in its July meeting, signalled that the target for three-year yields would be maintained until progress is made towards full employment, inflation and that there was no need to adjust the package of measures in the current environment. Further, officials indicated that uncertainty about the future path of the economy as well as the health situation continued to affect consumption and investment plans.

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