Heavy data day turns markets red
Weak data from China was only part of the bad news. There’s more, as NAB’s Ray Attrill explains, including higher CPI for Canada, higher wages for the UK, less consumption in Japan. It was a day light on good news. Maybe the Matildas can put that right.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 16th August 2023
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It’s been a busy day for data releases, having a profound impact on markets. NAB’s Ray Attrill talks through what’s happened, not least of which is the continued signs of slowdowns in the Chinese economy. Japan too has shown a fall in consumption, even though GDP rose (it was all through exports). The Bank of Canada might not be done with rate hikes with a CPI surprise, and the Bank of England has to contend with higher-than-expected wages growth. Even the US is starting to question hopes of a soft landing. It’s been a session rich in data that’s raised more questions than its answered. It was a day light on good news. Maybe the Matildas can put that right.
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