How’s your coffee going?
Globally most of the attention this morning is on the US where their markets are awaiting personal consumption expenditure (PCE) data, which is what they call that old chestnut inflation.
ANZ is tipping a “modest” increase of 0.2% for the month. Of course, the result will all impact rate cut expectations.
Closer to home, the AUD eased a little overnight and is currently trading near 0.6650.
ANZ is noting it fell a little bit, after comments by the RBA’s deputy governor that it would be mistake to make policy decisions (like hiking interest rates again) off the back of one number, namely this week’s strong monthly inflation data.
And in a markets tidbit, results were out for the famous Swedish fashion chain H&M.
Sales were lower than expected and its stock on Sweden’s markets is down around 15%. It is blaming higher costs, bad currency and weather on its poorer performance.