Australian export prices and EWA rise
Export prices in Australia increased by 1.4% for 2Q16 on a quarterly basis after falling by 4.7% in the previous quarter and against expectations of a 2.9% increase. The release below expectations doesn’t go well with the economic sentiment, but the Australian dollar and Australian ETFs (EWA) ignored the news. They traded on a positive note against the US dollar. On the other hand, import prices fell by 1.0% in 2Q16—compared to a fall of 3.0% in the previous quarter and against estimated forecasts of a 1.6% rise. The iShares MSCI Australia (EWA) rose by 0.23%, while the Vanguard FTSE Pacific (VPL) fell by 0.31% at 1:30 PM EST on July 28.
Unemployment rate increases for Singapore
The unemployment rate for Singapore increased to 2.1% for 2Q16—compared to a jobless rate of 1.9% in the previous quarter. While the construction sector saw a relatively unchanged employment scenario, the jobless rate rose in the manufacturing sector. The unemployment rate reached the highest level since 1Q14 in the South Asian economy. It has been dealing with subdued economic growth and contracting inflation levels.
The industrial production for Singapore fell earlier this week. To learn more, read Why Did Singapore’s Industrial Production Fall? and Inflation Levels Fall in Singapore, Malaysian Unemployment Rate Falls.
Thai industrial production continues to grow in June
Thailand’s industrial production rose by 0.8% in June on an annual basis—compared to a 2.7% rise in the previous month and expectations of 2.0% growth. Thai industrial production grew for the fourth consecutive month. The output increased in the auto, steel, electronics, food and textiles sectors. On a monthly basis, industrial production in Thailand fell by 2.5% after rising in the previous month by 12.8%. Recently, the trade surplus for Thailand increased as imports fell lower than exports in the Thai economy. The iShares MSCI Thailand Capped (THD) rose by 0.81% at 1:30 PM EST on July 28.