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Although momentum in domestic demand has turned out a bit weaker than the RBA expected, in September the RBA contemplated scenarios warranting both tighter and looser financial conditions. The RBA minutes for the September 2024 Board meeting were less hawkish about supply potential than the August minutes. However, we detect an increasing emphasis on assessments […]

The post RBA Minutes: Not Enough to Change, but a Shift in Financial Emphasis appeared first on Action Forex.

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16/03/2024

The Weekly Bottom Line: Sticky Prices Could Delay Rate Cuts

U.S. Highlights February’s Consumer Price Index report showed that inflation came in higher-than-expected for a second consecutive month – a development which is likely to be on the Fed’s agenda at their two-day meeting next week. Spending in the retail sector disappointed expectations, despite some recovery from last month’s notable decline. With inflation top of […]
09/04/2024

First Impressions: NZIER Survey of Business Opinion, Q1 2024

Business confidence slumped in March, after a post-election bounce in December. Key results (seasonally adjusted) General business confidence: -23.7 (Previous: -9.9) Trading activity, past three months: -23.2 (Previous: +6.7) Trading activity, next three months: -11.5 (Previous: +6.6) % reporting a rise in operating costs over the past 3 months: 53.1 (Previous: 54.7) % who increased […]
20/04/2024

U.S. Economy’s Outperformance Carried on into the Start of the Year

The first estimate of U.S. Q1 gross domestic product next Thursday is expected to show another robust increase—extending a long stretch of outperformance in the U.S. economy versus advanced economy peers. We expect U.S. output to have grown by an annualized 2.3% from Q4 last year, powered by stronger consumer spending and a tick-up in […]