US inflation kept falling through August. All eyes this week will be on US jobs data on Friday. Australian lending figures may show a rise today. And consumers in New Zealand are more confident about house prices, as well as their own finances.
In our bonus Deep Dive interview, ANZ Senior Commodities Analyst Daniel Hynes looks at why Saudi Arabia might be about to swamp the market with extra oil to win back market share.
5 things to know:
The market’s focus turns to US jobs figures at the end of the week after US PCE prices data on Friday showed inflation in line with expectations and heading for 2%. ANZ Senior Strategist David Croy is looking for signs of a cooling US jobs market.
The debate remains around whether the Fed will cut 25 bps or 50 bps in November. Markets are leaning to 50, but David says that view is vulnerable to jobs and inflation data showing a more resilient economy.
In Australia, the focus today is Australian private sector credit data for August. It rose 0.5% in July. ANZ Economist Maddy Dunk expects a slight slowdown.
We get data tomorrow for Australian building approvals and retail sales. Maddy is expecting 0.4% growth in retail sales in August, rebounding after a flat July.
In New Zealand, consumer confidence improved by three points in September, its third consecutive rise. Also, consumers’ views of house prices have perked right up, says ANZ New Zealand Chief Economist Sharon Zollner.
Cheers
Bernard
PS: Catch you tomorrow on the latest from China’s faltering economy.
