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(RTTNews) - Australia s business conditions improved in October, while business confidence weakened, survey results from the National Australia Ba. ....
In Australia, NAB reported a dip in Business Confidence for October, falling from 0 to -2. However, Business Conditions saw a slight improvement, rising from 12 to 13. Notably, trading conditions increased from 18 to 20, and profitability conditions improved from 9 to 12, while employment conditions slightly decreased from 9 to 8. ....
The financial markets are intently focused on the upcoming US CPI report, a key indicator that could influence Fed's next steps. Expectations are leaning towards a further slowdown in headline inflation to 3.3%, while the core inflation rate is projected to remain constant at 4.1%. However, there's a growing consensus among economists about the potential for upside risks in this data release, especially concerning goods and shelter inflation. ....
Investor sentiment is riding high in the wake of the latest US CPI report, with a notable surge in the DOW futures, climbing over 300 points, and a marked drop in 10-year yield, plunging from above 4.6% to below 4.5%. The report presented a picture of easing inflation, with both headline and core inflation rates falling short of market expectations. Significantly, core CPI has reached its lowest point in over two years. The weaker monthly price rise also bolsters the notion that disinflation is underway. This development could potentially revive Fed Chair Jerome Powell's "confidence" that the existing monetary policy is sufficiently restrictive to steer inflation back towards target. ....
Australian businesses are displaying signs of renewed optimism, as revealed by NAB Quarterly Business Confidence index for Q3. The index improved, moving up from -4 in the second quarter to -1 in the third. Moreover, the gauge for Current Business Conditions also indicated better sentiment, rising from 11 to 13. ....