Slowdown fears spoil the party
Friday 17th November 2023
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
So, after the excitement of softening inflation in the US comes concern that its being accompanied by a delayed slowdown in the economy. That was certainly reflected in some of the second tier US data, and could explain a further fall in oil prices. NAB\u2019s Tapas Strickland says Walmart reported weak sales too in October but highlighted an expected period of deflation in the months to come. Put all the pieces together and markets are increasing the expectation for rate cuts next year. It'll be a while before the RBA cuts rates, but at least yesterday\u2019s surprise increase in employment numbers wasn\u2019t enough to raise the likelihood of a December hike. Instead they\u2019ll wait for the next set of inflation numbers.
Hosted on Acast. See acast.com/privacy for more information.