China’s CPI-PPI divergence widens to 4.2ppt y/y in September, shows negative correlation after 2016: ANZ Research
Australian bonds suffer tracking U.S. Treasuries on hopes of successful Brexit deal; September labour report eyed
Weak U.S. growth outlook provides Fed flexibility to offer more “insurance” rate cuts, says ING Economics
CBR highlights downside risks to inflation; 25bp rate cut unlikely to weaken the ruble, says Commerzbank
MAS likely to adopt further easing to a neutral policy by next policy review in April 2020, says ANZ Research
Australia’s ANZ-Roy Morgan consumer confidence registers second straight weekly loss, inflation expectations stable
U.K. headline inflation remains unchanged at 1.7 pct in September, likely to stay below 2 pct in near-term
Australia’s ANZ-Roy Morgan weekly consumer confidence deteriorates on subdued financial conditions
Australia’s ANZ-Roy Morgan consumer confidence was down 0.9 percent last week, giving back much of the prior week’s gain. The overall index is still above its starting point for 2019, though it is almost 5 percent lower than its average for January 2018.
Financial conditions declined, with current and future financial conditions falling by 0.3 percent and 2.4 percent respectively. Both indices are around the levels seen this time last year and above long-run averages.
Economic conditions were mixed, with current economic conditions gaining 3.4 percent while future economic conditions fell 0.7 percent. These indices are 6–8 percent below the levels that prevailed in January 2018. The ‘time to buy a household item’ index fell 3.2 percent. Four-week moving average inflation expectations declined by 0.1ppt to 4.2 percent.
"It has been a volatile start to the year for consumer sentiment, with the index displaying a down-up-down pattern, though encouragingly it remains above the long-run average. The global news is not helping, with China slowing and political developments in the UK and US dispiriting. Domestically the focus remains on the weak housing market, though as we noted in Friday’s Australian Macro Weekly the evidence of a wider negative impact is still quite limited. Employment will be the key domestic data event this week," said David Plank, ANZ’s Head of Australian Economics.