Monday 22nd May 2023
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Markets are distinctly uneasy at the start of the week, as the Republicans and Democrats are sticking to their entrenched position in US debt ceiling talks. NAB’s Rodrigo Catril says it’s a sharp contrast to the upbeat tone on Thursday, so we can expect a large amount of volatility unless they pull something out of the hat on Monday. Meanwhile Jerome Powell hinted over the weekend that the Fed could pause in June, despite the rhetoric from other board members last week. Whilst Christine Lagarde says the ECB needs to buckle up’ to fight inflation. Also today, what impact in inflation and the RBAS will a rise in Australian minimum wages that’s in-line with inflation? Plus, the PBOC’s concerns about currency fluctuation, what to expect from the RBNZ this week and is Japan the new un-China?
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