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Australian futures 0.8 per cent lower. Rio Tinto sticks to iron ore guidance, shares fall in New York with iron ore. TD sees RBA lifting 0.75ppt. Follow updates here.
MacroBusiness Access Subscriber Only Content By Gareth Aird, head of Australian economics at CBA: Key Points: The Australian economic data dump this week added weight to our view that wages and inflation outcomes will be stronger than the RBA has forecast. The Q1 21 wage price index printed a little higher than market expectations and indicates that underlying wages growth is running at a six month annualised pace of2.0%. Both the unemployment and underemployment rates dropped in April to leave underutilisation at its lowest level since December 2019. The Government’s internet vacancy index...
Portfolio managers from Janus Henderson and T. Rowe Price provide their views on the US inflation spike and implications for Australia
ASX to slip, iron ore extends rally Share Iron ore’s latest surge is not done yet. Read the latest here. Roaring banks and miners lifted the ASX on Friday, read about it here. Australian shares are set to edge lower to start the week, even with iron ore as well as both the Dow and S&P 500 resetting their respective record highs. ASX futures were down 4 points or 0.1 per cent to 7055. The Australian dollar leapt 0.8 per cent to US78.44¢. The yield on the US 10-year - which plunged 10 basis points on the jobs data - ended up 1 basis point at 1.58 per cent in New York’s Friday session.