Data... Data... Data... Will the RBA cut interest rates tomorrow?
Trust that you had a nice weekend…
We went camping!
Although it must have been -2 degrees during the night, it is always great to go to the great outdoors, pitch the tent and get some fresh air…
So what is happening this week?
Today we have the all-important Retail Sales Figures, which will show whether consumers are in fact, spending……
Tomorrow, is an important day, as we await the RBA’s decision to cut interest rates….
Will they, or won’t they?
We believe that the RBA needs to follow other global central banks and cut interest rates tomorrow……….
On Friday night in the US, Dow closed +111 points, as US employers added 215,000 new jobs last month… For the week, the SP500 climbed 1.5%, however, our markets fell ~ 2% last week… talk about positive correlation?
So.. What's on today?
Local data: TD MI inflation gauge March, building permits Feb, retail sales Feb, ANZ job ads March, AIG services March
Overseas data: Japan monetary base (March), UK construction PMI (March), US labour market conditions index (March), US factory orders (Feb.)
Fed speakers: Eric Rosengren, Neel Kashkari
Talks also resume between the Greek government and creditors to complete a review of the country's latest bailout.
The SPI is up 23 points this morning.
Niv Dagan is an Executive Director of Melbourne based boutique funds management and corporate advisory firm, Peak Asset Management (www.peakassetmanagement.com.au). He is also a regular financial commentator on Sky Business.