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Powell was scheduled to speak in an hour but the comments are out and they’re not about monetary policy or the economy.
…as you were.
This article was written by Adam Button at investinglive.com.
The yearly number offers a bit more of a true view as the monthly numbers (as shown) are really bouncing around.
This article was written by Adam Button at investinglive.com.
Goods and Services Balance: +$2.49bn vs +$2.78bn prior
Net Primary Income: -$18.69bn vs -$18.99bn prior.
Terms of Trade: +0.3% q/q.
This is the worst reading since 2016. The ABS notes that the fall was led by the net secondary income deficit widening, though this was partially cushioned by an improvement in net primary income.
For traders eyeing tomorrow’s Q3 GDP print, the key takeaway here is the net export contribution. The balance on goods and services is expected to detract 0.1 percentage points from the headline growth figure. It’s not a massive drag, but it’s a headwind nonetheless for the Australian economy. The consensus tomorrow is +0.7% q/q and +2.2% y/y.
This article was written by Adam Button at investinglive.com.
This report tracks price changes for around 500 of the most commonly bought products. It shows there is plenty of room or the Bank of England to cut rates.
This article was written by Adam Button at investinglive.com.
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