Australian shares are heading even deeper into the red on Thursday, according to this morning’s ASX 200 futures, after yesterday’s CPI print confirmed Oz’s overheating inflation hit a calendar high last month.
The consumer price data – another 0.3% higher than in July – suggests the Reserve Bank board will avoid any policy easing the next time they meet.
While it’s not the most surprising print, it did shock the markets a little heading into Wednesday’s close, and now that’s carrying over today.
Not helping Oz futures is the fact the U.S. is having a similar downswing; Wall Street investors are consolidating after back-to-back-to-back records, with the S&P, Dow Jones, and Nasdaq all down around -0.3%.
There’s a bit more economic data rolling out today, too, which may add to the heap: Job vacancies and wealth data are both due a little later.
(Also, in an update, Jonathon Davidson and I spoke about Trump dodging Albo on the latest. Very happy to announce that Albo has since snagged the U.S. President for a selfie in New York.)