Tuesday 15th November 2022
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After the ebullient mood at the end of last week markets retraced their steps a little today, with shares on the rise and the US dollar regaining territory. NAB’s Rodrigo says Fed speakers, in particular Waller, have reminded the market that they will continue to lift rates until there are clear signs of a sustained drop in inflation. The question is, how determined will they be as we start to see more signs of a slowdown? The response to the easing of lockdowns in China seems to have persisted, with the Hang Seng strong yesterday and the Aussie dollar rising against a rising US dollar, helped by iron ore prices. And Presidents Xi and Biden have met and agreed to talk more. That’s another bit of good news ahead of G20.
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