Bitcoin holds above US$100,000, while stocks and bonds are mixed ahead of US jobs data. The euro holds up well despite the collapse of France’s government, and Australian consumer goods imports rose as retailers stocked up for Black Friday.
In our bonus deep-dive interview, ANZ’s Chief Economist for Southeast Asia and India,Sanjay Mathur, looks at how Indonesia can grow GDP even faster than its current rate of 5% per annum.
5 things to know:
Bitcoin held above US$100,000 overnight, while global stocks and bonds were on tenterhooks ahead of tonight’s jobs data in the United States, which may well decide if the Fed cuts again later this month, says ANZ Economist in London Bansi Madhavani.
Australia’s trade surplus rose in October to its highest level since February after iron ore exports rose, says ANZ Economist Sophia Angala.
Australian consumer goods imports rose 0.8% as retailers stocked up for Black Friday, Sophia says.
ANZ Research increased its New Zealand farmgate milk price forecast for the 2024-25 season by 85c to NZ$9.85/kg milksolids, which ANZ NZ Agricultural Economist Susan Kilsby says is due to global milk shortages.
Susan says dairy farmers are increasing output on farm incrementally, but are wary of too much expansion as they repay debt first.
Cheers
Bernard
PS: Catch you next week with analysis of that non farm payrolls data tonight, and we look ahead to the Reserve Bank of Australia’s next rates decision.
