Australian shares are set to open lower, in line with Wall Street’s latest sell-off. Central bank policy decisions, US CPI and Aussie jobs top a busy week.
Greens want Anthony Albanese to ditch compensation to coal companies and force gas giants to pay for household relief.AdvertisementOn Wall St: Dow -0.9% SStoxx 50 +0.5% FTSE +0.1% CAC +0.5% DAX +0.7%Iron ore +1.5% to $US112.40 a tonneMorgan Stanley’s economics team led by Ellen Zentner argue that the Fed is poised for three pivots and the first could take place this week if it slows the torrid pace of rate rises to 0.5pc from the previous 0.75pc pace.
“Short sellers are up $US38.4 billion in December net-of-financing mark-to market profits, up 4.02 per cent. These profits cover four-fifths of the $US47.4 billion of net-of-financing mark-to-market losses they incurred in November.”Bank of America forecasts a raft of rate increases in Europe this week: 0.5pc from the ECB, Bank of England and 0.25pc from the national banks in Norway and Switzerland.
“The hike [regardless of the increment] should come with a clear message that ‘withdrawing accommodation is no longer enough’, and that taking rates into restrictive territory to ‘dampen demand’ is appropriate.
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