Australia’s slow growth, weaker dollar

Thursday 5th December 2024NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABAustralia’s growth numbers yesterday were a bit slower than most had expected, although in-line with NAB’s expectations. Nonetheless it was below consensus and NAB’s Gavin Friend says that was brought forward expectations for a rate cut, although that could easily slip back. The short-term impact has been a weaker Aussie dollar against a US dollar which itself falling after a downside surprise on the Services ISM read overnight. A rare bit of soft US economic data, says Gavin. As we pressed record today France was going to vote on the government’s no-confidence motion, whilst Jerome Powell was taking part in a panel discussion that markets have been holding out for. We cover off some of the early take-outs from both. Hosted on Acast. See acast.com/privacy for more information.