Will Aussie inflation knock the RBA off its perch?
Bond yields continue to rise, equities fall and the US dollar gaining strength. It’s a world of worry, says NAB’s Gavin Friend. Will inflation data this week bring some relief, or fuel the concerns?
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 27th September 2023
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Markets are still a little directionless, with no substantial or surprising data to evoke any substantial moves in any asset classes. The only real movement is in equities, which continue to fall now the higher for longer message has sunk in. NAB’s Gavin Friend describes it as a wall of worry. But will we see a shift in direction from today through, as the rest of the week is filled with inflation data, starting with Australia. Could the services CPI be enough to force the RBA to make a move? Not just yet, reckons Gavin. Later in the week European CPI will add to the global picture about whether or not we are over the worst of it, before the US core-PCE, the Fed’s preferred measure of inflation.
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