RBA Just The Tip Of The Iceberg This Week
The RBA’s rate decision at 2:30pm tomorrow will be top billing this week, especially after Peter Martin’s article all but saying it was a done deal last Thursday night. Market pricing now has the probability of a rate cut at 2:3 after being less that 50/50 prior to his article.
Interestingly 3 and 10 year futures have been far less fazed. The 3 year has remained steady with the yield still hovering just under 2% while the 10 year has continued to sell off, driving the yield as high as 2.70%. This type of price action is synonymous with the bottom of the cycle and generally occurs ahead of, or just after, the last move.
The recent signs of improvement in a number of key data releases has been the main driver behind this type of price action. That then brings as to the treasure trove of data that lies ahead this week.
The key data releases that we will get in and around the RBA’s decision includes the TD Securities monthly inflation gauge, ANZ Job Ads and building approvals all out today. These will be followed by the weekly consumer sentiment index and trade balance before the RBA tomorrow. Retail sales, including the monthly inflation adjusted data will then be out Wednesday followed by the all important employment statistics on Thursday.
Follow us on TwitterTweets by @CurveSecurities
GIVE US A CALL
Ph (02) 9690 2188
1300 1 Curve (1300 128 783)
SEND US AN EMAIL
PAY US A VISIT
Suite 1801, Level 18, 1 Bligh St,
Sydney, NSW, 2000
Recent commentary by the Curve team
- Daily Flow & Insights – Wages Growth Miss & Employment Data Today August 18, 2022
- Daily Flow & Insights – RBNZ To Hike, Household Spending and WPI August 17, 2022
- Daily Flow & Insights – Data Paves the Way, New CPI Indicator August 16, 2022
- Daily Flow & Insights – Big Week of Data Ahead, Inversion Deepens August 15, 2022
- Daily Flow & Insights – Has Inflation Peaked in the U.S.? August 12, 2022
Curve Securities: We elevate performance
ABN 94 143 558 598
AFS Licence 405751
This website is not intended to imply a recommendation or otherwise constitute advice in relation to financial products. It does not take into account your investment objectives, financial situation or particular needs. Before acting on any information you obtain from this website you need to consider the appropriateness of the information in lieu of your investment objectives, financial situation or needs.
© 2022 Copyright – Curve Securities Australia