Market WATCh Weekly 4 November 2022

Market WATCh Weekly 4 November 2022

November 4, 2022

The RBA increased its policy interest rates by 25bps, including the cash rate to 2.85%. The FOMC lifted the fed funds rate target range by 75bps, to 3.75-4.00%. Data-wise, growth in retail trade volumes slowed in Q3. The trade surplus re-widened in September. Dwelling approvals and new home loans both fell in September, while house prices continued to fall in October. The ISM manufacturing PMI suggested activity growth all but stalled in October, while services PMI saw further solid expansion. The Chinese composite PMIs suggested business activity contracted in October.

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