Reserve Bank of Australia Governor Bullock said the weak housing market does not pose a material risk to financial stability.

CPCA expects the August 2026 passenger car market to exhibit a weak overall recovery and pronounced structural divergence; 21 production-and-sales working days and peak summer seasonality keep end-market recovery sluggish. Disruption to navigation in the Strait of Hormuz pushed July international oil prices higher; China raised retail refined-fuel prices in two rounds totalling about 985 yuan/ton, materially raising running and maintenance costs for internal-combustion-engine (ICE) vehicles, suppressing ICE purchase intent and weakening ICE demand—a key external tailwind for continued NEV strength and expanded domestic and overseas NEV growth space.

Australian Prime Minister Albanese said he agreed to strengthen trade and investment ties between Australia and Vietnam.