Market WATCh Weekly 10 June 2022

Market WATCh Weekly 10 June 2022

June 10, 2022

In Australia, the RBA increased the cash rate by 50bps to 0.85% this week. Data-wise, ANZ job ads rose in May and payrolls jobs also saw a slight gain in the month to mid-May. The Melbourne Institute inflation gauge drifted further away from the RBA CPI inflation target. The ANZ consumer confidence index fell to the lowest level since August 2020 last week, while consumer inflation expectations continued to climb. In China, the trade surplus widened significantly in May, as exports surged the most since last December amid the easing of COVID restrictions. Chinese imports saw a small increase, with iron ore imports also seeing an increase. Chinese inflation numbers were slightly weaker than expected.

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