Markets bounce back overnight after Donald Trump downplays his new 100% China tariff threat. China’s exports are stronger than expected. And New Zealand’s traffic movements may indicate an economic turnaround has begun.
In our Deep-Dive interview, ANZ’s Chief Economist for Greater China, Raymond Yeung, suggests looking through the latest noise in the US -China trade dramas for the signal.
5 things to know in 5 minutes:
Stocks and ‘risk-on’ assets rebounded strongly overnight as Donald Trump downplayed his comments about a big new tariff on China. US stocks made back most of their losses from Friday and gold jumped 3% to a new record high. ANZ Head of FX Strategy Mahjabeen Zaman explains.
China’s exports grew 8.3% in September from a year ago, much better than the 6.6% growth expected, says ANZ’s Chief Economist for Greater China Raymond Yeung.
The US Government shutdown extends into its 14th day, but Mahjabeen says it’s not moving markets much. Yet.
India’s headline CPI inflation rate of 1.54% from a year ago was in line with expectations, but ANZ Economist Dhiraj Nim reports core inflation rose by around 0.3 to 0.4 percentage points.
In New Zealand, ANZ’s Truckometer series measuring light and heavy traffic movements in September showed the economy may be coming out of its downturn, says ANZ Chief Economist for New Zealand Sharon Zollner.
Cheers,
Bernard.
PS: Catch you tomorrow with a look ahead to key US inflation and business survey data later in the week.
