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Tuesday 29th November 2022

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China is losing out on two fronts. It can\\u2019t keep its COVID numbers down and now its facing protests in major cities, which could add to the slowdown in the Chinese economy and, as JBWere\\u2019s Sally Auld suggests, it could delay the speed of the global recovery. We\\u2019ve already had two Fed speakers overnight suggesting rates might be higher for longer than markets are expecting. In Europe Christine Lagarde continues to take a hawkish stance (just ahead of Euro area inflation numbers), whilst the RBA\\u2019s Philip Lowe has been forced to apologise for misleading Australians on the speed and size of rate hikes from the central bank. It\\u2019s unlikely yesterday\\u2019s drop in retail sales will have any impact on the current path from the RBA \\u2013 after all, it\\u2019s just one month and there are several factors influencing that number. 

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