Rural Commodities Wrap – July 2013

Global equity markets have come under downward pressure, but the latest data on activity is slightly more positive. Business sentiment about current conditions has picked up in advanced economies and growth in global industrial output is faster.

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  • Global equity markets have come under downward pressure, but the latest data on activity is slightly more positive. Business sentiment about current conditions has picked up in advanced economies and growth in global industrial output is faster.
  • The soft outlook for China continues to weigh on the Australian resources sector and places significant downside risks to our exchange rate forecasts.
  • The domestic sector weakened further in June. The latest NAB survey reported the weakest reading for business conditions for more than four years.

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