Political Turmoil and Economic Insights in France and Australia

Tuesday 3rd December 2024

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Will Marine Le Penne push all the way to bring down the Barnier government in France? She said on Monday she would support a n confidence vote in the government but, as NAB’s Rodrigo Catril points out, that would force a more constrained default budget, offering none of what her National Party has been fighting for.  Markets are responding to the possibility of a French government collapse this week. Elsewhere, US ISM’s overnight showed the continued strength in the US economy, raising questions about why the need to rush into cuts. Markets are expecting that if there is a rate cut this month, it’ll almost certainly be followed by a pause. Plus, what can we take out from Australian data yesterday, including stronger retail sales.

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