US President Biden budget proposes raising corporate tax to 28% (from 21%)
<p>more to come</p><p>-</p> This article was written by Eamonn Sheridan at www.forexlive.com.
Read More »Australian headline Q4 2022 capex +2.2% q/q (vs. expected +1.3%)
<p>more to come</p><p>Australian Private Capital Expenditure for Q4 2022 +2.2% q/q</p><ul><li>expected +1.3%, prior -0.6%</li></ul><p>Building capex + 3.6% </p><ul><li>prior +0.5%</li></ul><p>Equipment, plant and machinery capex +0.6% </p><ul><li>prior -1.6%</li></ul><p>Estimate 1 for 2023-24 is…
Read More »RBA Gov Lowe says there is a risk the Bank has not yet raised interest rates enough
<p>Reserve Bank of Australia Governor Lowe is appearing before an Australian parliamentary committee. </p><p>He is making garbled remarks … this:</p><ul><li>there is a risk the bank has tightened policy too much</li><li>risk…
Read More »Australia NAB Business Confidence for January 6 (prior -1)
<p>National Australia Bank business survey.</p><p>The twin headlines from this are:</p><ul><li>business confidence, comes in at +6 in January from 0 in December</li><li>business conditions +18 in January, from +13 in December</li></ul><p>Of the…
Read More »RBA Statement revises forecasts for core inflation higher
<p>Reserve Bank of Australia's Statement on Monetary Policy (SoMP) </p><p>Summary Headlines via Reuters, bolding is mine:</p><ul><li> Board's priority is to return inflation to target</li><li>Board expects further increases in interest rates…
Read More »RBA December Minutes: Further rates hikes will likely be needed to balance supply & demand
<p>Reserve Bank of Australia December meeting minutes</p><p>Headlines via Reuters:</p><ul><li> Board considered hiking by 25bp, 50bp or pausing at the December meeting</li><li>Board saw arguments for each option but the 25bp hike…
Read More »Japan Jibun preliminary (flash) manufacturing PMI for December 48.8 (prior 49.0)
<p>The deepest contraction for manufacturing for 26 months. Weak demand, strong cost pressures cited. </p><p>Manufacturing PMI 48.8</p><ul><li>prior 49.0</li><li> Output and new orders extended their contraction for a sixth month in…
Read More »Australian jobs data – unemployment rate for November 3.4% vs. 3.4% expected
<p>Australian November 2022 employment report is solid. </p><ul><li>Employment change is nearly double what it was the previous month</li><li>the unemployment rate is steady despite a higher number of people in the…
Read More »Australian economic growth data: Q3 GDP +0.6% q/q (expected +0.7%, prior +0.9%)
<p>Australian Q3 2022 GDP rises less than expected at +0.6% q/q</p><ul><li>expected +0.7%, prior +0.9%</li></ul><p>For the y/y, comes in at 5.9%</p><ul><li>expected 6.3%, prior 3.6%</li><li>the annual rate reflects a very low base…
Read More »Australian housing finance data for October slows again – higher rates weighing
<p>Rising interest rates in Australia are weighing on the housing sector. Prices down, construction activity slower, and loans down also. </p><p>Home loans -2.7% m/m</p><ul><li>expected -2.0%; prev -8.2%</li></ul><p>Owner Occupier -2.9% m/m</p><ul><li>expected…
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