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Daily News - Reserve Bank of Australia expects good data on economy performance in Q3

1. Guy Debel declined to comment on RBA QE plans
2. In Germany, the number of infected people continues to increase COVID-19
3. China's manufacturing profits rose 10.1% in September
Guy Debelle, Deputy Governor of the Reserve Bank of Australia, expects positive statistics on the performance of the economy for the 3rd quarter. According to him, the introduction of quarantine in Victoria negatively affected economic activity, but this was compensated by other regions of the country. At the same time, Debel declined to comment on issues of quantitative easing, noting that the market is very sensitive to them. After Debel's speech, the Australian dollar strengthened to the US currency by 0.2%.
According to the Robert Koch Institute, 11,409 new cases of coronavirus infection have been reported in Germany over the past 24 hours. A day earlier, 8,685. As in other EU countries, Germany is experiencing a sharp increase in the number of infected people. On the 5th day out of six, daily growth indicators exceed the mark of 10 thousand people.
China's industrial sector continues to recover from the pandemic crisis. At the end of September, the profit of production companies increased by 10.1%. By the end of the year, companies will be able to compensate for losses incurred during the shutdown in February-March. Compared to 2019, from January to September, the profit of China's production companies decreased by 2.4%.

News to pay attention today:
12:30 GMT. US $: Basic Hard Goods Order Report
14:00 GMT. US: CB Consumer Confidence Index

 

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