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  1. #431
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    Australian inflation fell but just ‘weight’ a minute

    Australian inflation rose only to 6.9% y/y, down from a peak of 7.4% and lower than the 7.5% expected. Housing, food and non-alcoholic beverages and transport were most significant contributors. CPI rose 0.2% m/m, below its long-term average of 2.5%.

    The RBA will be happy to hear that inflation was much lower than expected, even if it does remain historically high. But the ABS report also highlighted that they performed their annual weight adjustment to the CPI basket, and that inflation would have been 7.1% if last year’s methodology was used. But even a move down from 7.4% to 7.1% is noteworthy as it leaves the potential that inflation has in fact peaked.

    Read More : Daily & Weekly Analysis On Xtreamforex

  2. #432
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    Powell’s Brooking November 2nd FOMC Press Conference

    In Fed Chairman Powell’s press conference after the FOMC meeting on 2nd November, he said that incoming data suggests that the ultimate level of rates will be higher than previously anticipated. In addition, he noted that, how high rates rise is more important than the pace of tightening. At the time, the markets took this to be hawkish as it was the first time Powell mentioned rates would be higher than anticipated and that the pace was not as important as the terminal rate.

    Inflation and the labor market at the Brookings Institute. Powell repeated many of the same comments from 2nd November, while adding that the time for moderating the pace of rate hike increases may come as soon as the December meeting. This was now seen as dovish, as Powell is basically telling the markets that the FOMC will Only hike by 50bps in December .

    Read More : Daily & Weekly Analysis On Xtreamforex

  3. #433
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    Consensus is for the RBA to hike by 25bp tomorrow

    What has happened since the last RBA meeting:-

    10th November: Australia’s Central Bank says nearer to point when it can wait on rates.
    CPI fell to 6.9% y/y, down from 7.4% and beneath the 7.5% – suggesting inflation has peaked.
    Governor Lowe reiterated his belief that the economy can have a soft landing.
    PMI’s continued south, business sentiment has been flat.
    Consumer inflation expectations hit a record high according to one survey.
    OIS curve is pointing lower as the case for a higher terminal rate diminishes.

    Read More : Daily & Weekly Analysis On Xtreamforex

  4. ARIONFORXtarder
 

 
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