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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
US factory orders rose more than expected in September
In the US, factory orders recorded a rise of 1.10% on a MoM basis in September, compared to a revised rise of 0.60% in the previous month. Markets were expecting factory orders to record an advance of 1.00%.
US durable goods orders rose in September
In the US, final durable goods orders registered a rise of 1.90% on a MoM basis in September, compared to a revised advance of 0.40% in the previous month.
BoJ Minutes: Officials urged scrutiny to curb Covid-19 crisis
Minutes of the Bank of Japan (BoJ) monetary policy meeting indicated that few BoJ policymakers called for deeper examination on how to address the fallout from the coronavirus pandemic as the economic outlook remained highly uncertain. Further, majority officials believed that maintaining the current ultra loose monetary policy was sufficient for now to cushion the economic crisis from the coronavirus pandemic, while some saw the need to debate how the BoJ could re-shape its policy.
Australian performance of construction index rose in October
In Australia, the performance of construction index recorded a rise to a level of 52.70 in October, compared to a reading of 45.20 in the prior month.
Australian retail sales dropped less than expected in September
In Australia, seasonally adjusted retail sales dropped 1.10% on a MoM basis in September, compared to a fall of 4.00% in the prior month. Markets were expecting retail sales to record a drop of 1.50%.
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