Market WATCh Weekly 8 April 2022

Market WATCh Weekly 8 April 2022

April 8, 2022

In Australia, the RBA left the cash rate target unchanged this week but tweaked its forward guidance, raising the risk of a near-term rate hike. In March, the Melbourne Institute annual inflation gauge rose to the highest levels since 2008 and ANZ job ads continued to rise. Payroll jobs declined in the month to 12 March. The trade surplus narrowed in February on higher imports. Offshore, the ISM PMIs pointed to solid activity growth in the US, with price pressures re-intensifying. The Caixin PMI indicated the fastest contraction in the Chinese services sector since February 2020.

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