PMIs show narrowing US-Europe gap, Inflation Day for Australia
Wednesday 24th April 2024
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PMIs showed some strength in Europe, but were generally weaker than expected in the US. NAB\u2019s Taylor Nugent says it\u2019s the US numbers that generated a market reaction because it adds to the leading indicators that challenge the notion of US exceptionalism and that the gap between the US and Europe is closing. Today the quarterly CPI print for Australia is unlikely to move the dial on RBA cuts, even if it comes in slightly lower than expected. Plus, Tesla\u2019s earnings results, which have seen a rise in after hours pricing.
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