Global stocks rise again after strong US business activity surveys. This week’s focus is on the Fed’s minutes and US inflation data, along with Australian inflation figures and a rates decision from the Reserve Bank of New Zealand.
In our bonus deep dive interview, ANZ Australia Economist Maddy Dunk highlights a counterintuitive move in housing affordability in one state capital.
5 things to know:
Global stocks rose again on Friday night, thanks to strong US PMI business survey results. The focus in global markets will be on Fed minutes and US inflation figures in the middle of the week, says ANZ Group Chief Economist Richard Yetsenga.
The focus in Australasia will be firstly on Australian inflation figures on Wednesday, and what it means for the Reserve Bank of Australia’s cash rate.
Then on Wednesday, the Reserve Bank of New Zealand makes its final cash rate decision of the year, which Richard expects to be another 50 basis point cut.
Japan’s headline inflation was slightly lower than expected, but the core measure excluding fresh food and energy was high enough to keep the Bank of Japan on track to hike again next month, says ANZ FX Analyst Felix Ryan.
Malaysian inflation figures on Friday were a touch above expectations, but not enough to shift the central bank, says ANZ Economist Arindam Chakraborty.
Cheers
Bernard
PS: Catch you with a closer look ahead at those big events in Australia and New Zealand on Wednesday.
