Daily Commentary BY THE CURVE TEAM –

Markets Quiet Awaiting Key Data Updated

12th of November, 2019

Both local and offshore markets were reasonably quiet as participants await key data updates.

With the US markets closed for the Veterans Day Holiday, markets as a whole were reasonably quiet. There was some positive news out of the UK overnight, with an indication the Brexit and Conservative Parties may be working together with the goal of winning the upcoming election as a majority. Should that occur, it would almost guarantee the ability of the government to pass legislation to leave the EU. However, first they have to win the election, which is a big if.

In the domestic market, eyes will be on the 11:30 release of the NAB Business Survey. The October survey with data from Q4 should give a clearer indication of the effect of recent tax and rate cuts filtering through the economy.

Later today, Curve will release the November edition of our Monthly Insights. The piece will give a much deeper insight into the expected course of local monetary policy given recent data updates, so will be worth a read given the current uncertainty.

Matthew Dunshea

Client Relationship Manager