Australia’s wage report showed that the unemployment rate fell 5.3% in July. The decline came on a slight decrease in the participation rate. Data showed that the economy lost a net 3.9k jobs. This missed expectations of a 15k increase.
In the UK, retail sales jumped 0.7% on the month in July beating estimates of a 0.5% increase. The robust retail sales figures came amid a drop in real wages.
In the U.S., housing starts data showed an increase of 1.17 million. This was below estimates of 1.27 million but slightly higher compared to the previous month.
The U.S. dollar index was seen retreating following the strong surge during the middle of the week.
Looking ahead, the economic data for the day will see the release of the final inflation figures for July. Economists polled expect to see the headline inflation rise 2.1% on the year while core inflation rate is expected to rise 1.1%.
Canada will also be releasing the monthly inflation figures today. Headline inflation is forecast to rise 0.1%.
