Markets are mixed ahead of key US inflation data and Easter holidays for many. US consumers feel more confident. Australian renters are much less confident than home owners. New Zealand Budget policy detail is due later today.
In our bonus deep dive interview, ANZ Data Scientist Somayeh Shiri reveals her findings from an analysis of herding behaviour among foreign exchange forecasters.
5 things to know:
Markets are mixed this morning before US PCE inflation data on Thursday and Easter trading breaks. US consumer confidence rose, but ANZ Head of G3 Economics Brian Martin says GDP is still slowing enough for a Fed cut this year.
Australian inflation data due later today is expected to show inflation running below the RBA’s targets, says ANZ Australia Economist Maddy Dunk.
Maddy says the RBA’s more dovish indications helped boost Australian consumer confidence last week.
She says Australia’s renters are much less confident than home owners, who have the hope of mortgage rate relief.
ANZ NZ Chief Economist Sharon Zollner is watching for any inflationary indications from the new Government’s Budget Policy Statement due at 1pm NZT.
Cheers
Bernard
PS: Catch you tomorrow with the detail from Australian inflation data.
