5 in 5 with ANZ
5 in 5 with ANZ
Tuesday: All eyes on US CPI for Fed clues
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Tuesday: All eyes on US CPI for Fed clues

US core CPI seen rising 0.3%; Markets see 14% chance of Fed hike next month; Markets becalmed ahead of data tonight; India's inflation slows; China loan growth weak; Brian Martin on US jobs, wages

Markets are becalmed ahead of key US inflation data due tonight, which is expected to allow the Fed to hold its key policy rate again.

In our bonus deep-dive interview, ANZ’s Head of G3 Economics Brian Martin dissects the inflationary pressures in the all-important US labour market.

5 things to know

  1. The S&P 500 is unchanged and the Nasdaq is down 0.2% at 5am AEST. The A$ is nudging higher at 63.87 USc. NZ$ is up a touch at 58.90 USc. Oil rose US$1.10/bbl to US$83.35 for Brent after a solid OPEC demand forecast.

  2. US inflation data due tonight is expected to show core inflation still uncomfortably high at 4.3%, says ANZ Senior Economist Tom Kenny.

  3. India’s annual CPI inflation rate fell to 4.87% in October from 5.02% in September, but core inflation of 4.25% was lower than forecast and the Reserve Bank of India is expected to remain on hold.

  4. China’s aggregate financing growth of 9.3% in October from a year ago remained weaker than expected below 10%.

  5. Gold’s performance as a safe haven after the start of the Israel-Hamas war has been stronger than for previous crises, thanks to central bank buying, says ANZ Senior Commodities Strategist Daniel Hynes.

Cheers

Bernard

PS: Have a great day and look out tomorrow for the detail from US inflation data tonight.

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5 in 5 with ANZ
5 in 5 with ANZ
A daily podcast hosted by Bernard Hickey that gives you the five things you need to know about the global economy and markets in under five minutes. Plus a deep dive into emerging trends and issues featuring ANZ's global team of experts.