- In a relatively quiet month for economic and policy news, global equity prices rose, helped by corporate earnings reports in the United States and Europe that were relatively strong.
- The US Dollar fell 2.9% against a trade-weighted basket of currencies as the “Trump Slump” continued.
- Over the month the lower US Dollar, and Chinese policies to cut metal production capacity, boosted commodity prices denominated in US Dollars such as oil, copper, aluminium and iron ore.
- US technology stocks renewed their uptrend helped by strong earnings reports from Apple, Facebook and Google’s parent company Alphabet.
- Chinese economic growth remained at a strong 6.9% annual rate in the June quarter.
- Australia’s equity market traded sideways for the second month in a row as investors remained cautious ahead of reporting season.
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