US markets strengthen ahead of Nvidia earnings. UK inflation appears to have peaked. Australian wage growth behaves - and shouldn’t stop the RBA from a final cut. And Indonesia holds rates to support its currency.
In our Deep-Dive interview, ANZ Senior Commodities Strategist Daniel Hynes surveys the outlook for the aluminium market.
5 things to know in 5 minutes:
US stocks rose ahead of a key earnings report from Nvidia - amid general concerns over AI valuations which have driven stocks lower in recent days. Meanwhile, in the UK there was some good news on the inflation front with the headline CPI falling for the first time in seven months - by 0.2 points to 3.6% annually. ANZ Economist Henry Russell says inflation appears to have peaked.
Australia’s wage price index lifted 0.8% in the third quarter, and 3.4% over the year - in line with expectations. ANZ Economist Sophia Angala says public sector wages led the way.
Sophia says the data doesn’t change the picture for the Reserve Bank of Australia. ANZ Research is expecting another rate cut in early 2026 - most likely February.
Bank Indonesia held its benchmark rate at 4.75% as expected yesterday to support its currency. ANZ Economist Krystal Tan says the central bank did maintain an easing bias though.
Malaysia’s exports jumped over 15% in October from a year ago - above expectations. ANZ Economist Arindam Chakraborty says the trade surplus eased slightly from US$4.8 billion in September to US$4.5 billion.
Cheers,
Bernard.
PS: Catch you tomorrow with the implications of key lending rate decisions in China.
