PMIs show narrowing US-Europe gap, Inflation Day for Australia
PMIs were weak in the US but a bit stronger for Europe. Meanwhile NAB’s Taylor Nugent talks us through what to expect in Australian CPI numbers today. And Tesla results clearly not as bad as markets had priced in.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 24th April 2024
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PMIs showed some strength in Europe, but were generally weaker than expected in the US. NAB’s Taylor Nugent says it’s 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’s earnings results, which have seen a rise in after hours pricing.
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