The S&P 500 was flat ahead of the Fed’s expected cut this morning, which was being announced as the podcast was going to air. Australia is set to have seen jobs growth in November, and Chinese inflation rises.
In our Deep-Dive interview, ANZ Commodity Strategist Soni Kumari looks at what’s behind a recent spike in the silver price.
5 things to know in 5 minutes:
In Australia today, markets will focus on the labour market report for November. ANZ Economist Aaron Luk is expecting employment growth of 15,000 and the unemployment rate to remain at 4.3%.
China’s annual inflation was 0.7% in November, which was the strongest in over a year. ANZ Senior China Strategist Zhaopeng Xing cites higher food prices due to bad weather.
The new Reserve Bank of New Zealand Governor, Anna Breman, made her first media appearance yesterday, with markets looking for any clues on her views on where rates should head. ANZ New Zealand Chief Economist Sharon Zollner says she gave nothing away.
The new Governor takes the reins just as economic data starts to show green shoots. Yesterday, ANZ’s Truckometer series for November showed annual growth in traffic movements holding up, and has turned higher on a per-capita basis.
Also showing green shoots in New Zealand was inward migration data for October. ANZ Senior Economist Matthew Galt says net inflows are still very low though, at 2,400 in the month.
Cheers,
Bernard.
Catch you tomorrow with what Australia’s jobs market data could mean for the RBA.
