- The seasonally adjusted Australian Retail Sales experienced a 0.4% month-on-month decrease in March, falling short of expectations for a 0.2% increase. This decline contrasts with the previous month's growth of 0.3%.
- In April, China's NBS Manufacturing Purchasing Managers Index (PMI) declined to 50.4, down from the previous reading of 50.8. Although it was higher than the expected reading of 50.3. Additionally, the Non-manufacturing PMI decreased to 51.2, in line with expectations, compared to the previous reading of 53.0 in March.
- The International Monetary Fund (IMF) stated in its latest report, released on Tuesday, that China's economic growth is anticipated to decelerate in the coming years. The projected growth rates are 5.2% in 2023, 4.6% in 2024, and 4.1% in 2025. This forecast has implications for the Australian market, as Australia is the largest exporter of commodities and raw materials to China.
- Australian shares kicked off Tuesday with little change, as investors paused ahead of the upcoming US Federal Reserve rates decision on Wednesday. Among the 11 sectors, only materials showed gains, while the rest remained relatively unchanged.
- According to the CME FedWatch Tool, the probability of the Federal Reserve keeping interest rates unchanged in the June meeting has increased to 88.4%, up from 83.5% in the past week. The Fed's narrative of higher rates for a longer period strengthens the US Dollar and presents a challenge for the AUD/USD pair.
- The Economic Times reported on Monday that Fed Chair Jerome Powell mentioned it would likely take "longer than expected" to gain confidence that inflation is progressing towards the central bank's 2% target. Powell added that the central bank can maintain rates at a high level "as long as needed." Fed Governor Michelle Bowman expressed her view of "upside risks" to inflation. Meanwhile, Minneapolis Fed President Neel Kashkari raised the possibility of no rate cuts occurring this year.
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
この記事が気に入ったら、著者にチップを送って感謝の気持ちを表しましょう。
