China calms down, European inflation eases
Hopes of a Chinese revival are reignited says NAB’s Ray Attrill as authorities there announce more jabs for old people.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 30th November 2022
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The Aussie dollar has benefited from a reversal in concerns over China. NAB’s Ray Attrill says an announcement of a more intense vaccination program for older people has markets assuming a recovery in the Chinese economy early next year. Germany’s inflation numbers came out lower than anticipated with the assumption that we will see a Europe-wide slowdown in data released data. It’s a different story for Australia though (although obviously from a lower base) with inflation expected to rise today, with NAB forecasting a greater rise than the consensus. Then the focus is on US jobs, with job openings and ADP employment numbers today, ahead of non-farm payrolls on Friday.
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