Foreign purchases. We have the first public impeachment hearing testimony revealing the president s lawyer was digging up dirt in his shadow diplomacy in ukraine. Howi lets take a look at we are setting up when it comes to the start of trading here in sydney. Investors dealt a pretty mixed hand overnight. Stocks closing pretty close to fresh record highs. Still, uncertainty over the lingering trade negotiations continuing to chip away at sentiment. We are hearing potentially the agricultural purchases that had been a solid part of the phase i deal could be in doubt. China reportedly saying if these tariffs are not resolved, they could back away from purchasing more u. S. Soy and pork. Taking a look at the picture, just about 1 10 of 1 . Watching the labor market numbers, typically quite volatile, could be a move in the aussie dollar. New zealand, upside about 1 10 of 1 after the reserve bank of new zealand held on rates for their last meeting of the year somewhat unexpectedly, causing
meaningful, i think then certainly we will have a huge reaction in the market. but for now, i don t really see anything more meaningful coming into the market. so anything more meaningful coming into the market. into the market. so we have reached the into the market. so we have reached the halfway - into the market. so we have reached the halfway point i into the market. so we have reached the halfway point of 2023. how would you describe the health of the global economy? the health of the global econom ? . v . economy? that s an intriguing question- economy? that s an intriguing question- i economy? that s an intriguing question. ithink economy? that s an intriguing question. i think throughout l question. i think throughout this year, central banks and lawmakers and policymakers have been very much focused on taming inflation, bringing inflation under control. and a lot of these banks have failed to bring inflation to the target level, which is still running quite
i don t really see anything more meaningful coming into the market. we have reached now the halfway point of 2023. how would you describe the health of the global economy? that s a really intriguing question. i think throughout this year, central banks and lawmakers and policy makers have been focused on containing inflation, bringing inflation under control, and a lot of these banks have failed to bring the inflation to the target level, which is still running quite high, so especially in the uk, the cost of living crisis is a huge issue, and inflation data last week has already shown that there is no easiness or ease off in the data for the time being. but, having said all those pessimistic things and pointed to those factors, i think i am a bit more optimistic going into h2 of this year because i think inflation is going to come closer to the central bank s target, whether we are talking about the federal reserve, whether we re talking the ecb, and, of course, inflation is
let s start in china, where the latest figures just released show the world s second largest economy grew faster than expected in the first three months of the year at 4.5%. this is the first set of quarterly gdp figures following the end of strict covid 19 restrictions in december. they also follow the easing of a three year crackdown on tech firms and property. lets get reaction from julian evans pritchard, head of china economics at capital economics. this is better than expected. most people are saying we re looking at 4% growth, give us your take on this number? really the strength is all about the consumer centre, we saw the vigors beads on the retail sales numbers are more generally in qrs or the household savings rates, so households are feeling more comfortable, households are feeling more comfortable, spinning again, they have comfortable, spinning again, they have the comfortable, spinning again, they have the possibility - comfortable, spinning again, they ha
We have a feed through from the chinese economy to the rest of the world through chinese investment, particularly Property Investment and infrastructure investment, and the news on that front is not quite so positive yet. We are still seeing relatively sluggish investment in those areas. A lot of the recent improvement has actually come from the consumer sector, which is a good thing for chinas economy, where we are seeing some rebalancing away from investment, but in terms of chinese demand for what the rest of the world produces, it is not quite as positive a development. Having said that, despite the continued weakness in the property sector, there were some green shoots in the data today. I think we could see a bit of relief for the Housing Market over the next few quarters and that definitely will be a positive for the rest of the world as well. Todays gdp news comes as president xi hosts an anniversary belt and road forum in beijing. The meeting celebrates ten years of president