Limbering up for cuts. Who goes first?
Tuesday 30th January 2024
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For all the delaying tactics of central bank speakers, markets are still pricing cuts earlier for the fed and the ECB. So who goes first? NAB\u2019s Ray Attrill says it\u2019s a two-horse race, although markets are pricing in early cuts in Europe. That could all change, of course, depending on what\u2019s said by the FOMC tomorrow. Europe\u2019s destiny will be somewhat shaped by it\u2019s GDP numbers today, which are expected top show that the Euro area is in recession. There\u2019s also discussion about Australia\u2019s retail numbers out today, which are expected to show a fall in December in response to the bounce in sales (because of sales) in November.
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