Oil prices are set to fall again with Saudi Arabia expected to force through a deal to increase output later today. Australia’s election result suggests incumbent Governments are safer than they used to be. ANZ Research trims its Australian GDP forecasts. And Indonesia’s GDP growth is softening.
In our bonus Deep Dive interview, ANZ Senior Commodities strategist Daniel Hynes says metals markets should prepare for strategic reserves building of the type already seen in oil markets.
5 things to know in 5 minutes:
Oil prices are set to fall even further below US$60 a barrel with Saudi Arabia expected to secure another 2.2 mpbd1 of production at an OPEC+ meeting later today. ANZ Senior Commodities Strategist Daniel Hynes says Saudi Arabia wants to force rogue producers to cut output too by lowering prices.
The FOMC is set to hold the Fed Funds Rate later this week, in defiance of Donald Trump’s call for cuts, ANZ Head of FX Strategy Mahjabeen Zaman says.
The landslide re-election over the weekend of Australia’s Labor Federal Government was remarkable for a couple of reasons, Group Chief Economist Richard Yetsenga says.
ANZ Research has trimmed its GDP forecast for Australia in 2025 from 2.4% to 2%, and for 2026 to 2.2% from 2.6%. ANZ Head of Australian Economics Adam Boyton explains why.
Indonesia’s Q1 GDP data due today is expected to show a slowdown. ANZ’s Chief Economist for Southeast Asia and India Sanjay Mathur explains the softness.
Cheers,
Bernard
PS: Catch you tomorrow with a deep dive into Indian equities valuations with Sanjay Mathur.
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