DXY is back. AUD is not. Lead boots are heavy. Commods says no bueno for growth. Big miner meh. EM meh. Junk a bit better. Yields won’t budge. Stocks only go up. DXY breaking out. EUR breaking down. Ordere restored. Nobody got dollars. And you’re going to need them if you’re chasing tech stocks again.
The official Q1 CPI inflation print from the Australian Bureau of Statistics (ABS) revealed that the policy-important trimmed mean inflation fell to 2.9% year-on-year to be within the Reserve Bank of Australia’s (RBA) inflation target of 2% to 3%. As illustrated below by Justin Fabo from Antipodean Macro, the Melbourne Institute’s monthly trimmed mean inflation
Australia is experiencing a housing crisis because its home prices are among the highest in the world compared to incomes, we have some of the most indebted households in the world, and tenants are paying a record share of their income on rent. According to CoreLogic, the total value of Australia’s housing stock was $11.3
AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225 Easy Listening
The post Macro Afternoon: 8 May 2025 appeared first on MacroBusiness.
Propaganda is maddening in its resistance to all truth. The Australian. New sources of gas that have been earmarked to fix a looming east coast shortfall will not be ready in time and cost just as much as imported LNG, a report from Rystad Energy on behalf of gas pipeline operator Jemena has concluded. …But
Gone are the days of iron ore’s Pavlovian response to China yawnulus. In days of yore, the following would have sent iron ore nuts. BofA. ThePBOC, NFRA and CSRC jointly announced a raft of monetary, consumption, capital market, and property measures to stimulate the economy. In terms of 1) monetary easing–PBOC will cut the RRR
Goldman’s excellent Andrew Boak is still on point. Australia’s recent CPI data showed that core inflation is now tracking well within the RBA’s 2-3% target band, with six-month annualised growth in the trimmed-mean measure decelerating 25bps to 2.5%. Compositionally, a range of wage-sensitive services items showed significant disinflation, offsetting stickiness in some government-linked administered prices.
Twitter (X) user Oliver in WA posted the following stunning chart showing how Australians are heavily overweight in housing (4.5 times GDP) compared to other English-speaking nations. The same can be said about Australians’ mortgage debts, which are among the highest in the world when measured against incomes or GDP. The following chart from Justin
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Alex Joiner, chief economist at IFM Investors, published the following chart showing the structural decline in private demand over the past decade, offset by the surge in public demand. Joiner’s chart paints a picture of a ‘lost decade’ for the private sector economy. Indeed, population growth averaged 1.5% over the past decade, implying per capita