Macro Briefing Notes (unlocked)

The Macro Outlook for w/c 7 October 2024

Key events this week - US CPI & PPI, Minutes; FOMC, ECB, & RBA, RBNZ policy meeting Recap from last week; The US labor market not weakening as much as thought. During his speech last week, US Fed Chair Powell’s comments built on the themes from the most recent...

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The Macro Outlook for w/c 30 September 2024

Key events this week – US non-farm payrolls, US Fed Chair Powell speech, Eurozone CPI prelim, S&P global PMIs - final Recap from last week - Signs of progress on US PCE Inflation Last week, Fed speeches confirmed broad support for the FOMC’s decision to start...

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The Macro Outlook for w/c 23 September 2024

Key events this week – US PCE inflation, Fed speeches, RBA & SNB meeting, Aus CPI, S&P Prelim PMIs Sept Recap from last week Last week, the FOMC joined the shift towards easing monetary policy settings. The FOMC began its rate-cutting cycle with a 50bps...

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The Macro Outlook for w/c 16 September 2024

Key events this week – FOMC, BoJ, and BoE meetings, US retail sales, CPI: Japan, UK, and Canada Recap from last week The US CPI report for Aug was a little mixed given the unexpected firmness in core CPI. Recent comments by Fed Chair Powell have noted that ‘the job is...

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The Macro Outlook for w/c 9 September 2024

Key events this week – US CPI & PPI, ECB policy meeting Recap from last week The US labor market hiring continued to slow in Aug while the unemployment rate edged only slightly lower. Last week, US Fed Governor Waller noted that the risks to the labor market have...

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The Macro Outlook for w/c 2 September 2024

Key events this week – US non-farm payrolls & labor market update, ISM surveys, US Fed Governor Waller speech, BoC policy meeting Outlook for the week ahead This week, the focus will be on the Aug US labor market update and its implications for the path of US...

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The Macro Outlook for w/c 19 August 2024

Key events this week – Jackson Hole Symposium, FOMC, RBA, & ECB minutes, Japan & Canada CPI, S&P prelim PMIs Aug Recap from last week Data last week provided important inputs for the FOMC as it considers the case for rate cuts. At the last meeting, Fed...

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The Macro Outlook for w/c 12 August 2024

Key events this week – US CPI, PPI, & retail sales, UK CPI, RBNZ meeting, Aus labour market, GDP; Eurozone, UK, & Japan Recap from last week The week began with heightened fears of a slowdown in US growth amid significant market turbulence. Despite a light...

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The Macro Outlook for w/c 5 August 2024

Key events this week – US ISM services PMI, RBA monetary policy meeting Recap from last week The FOMC kept policy settings unchanged, however, noted that it is getting closer to the point at which it will be appropriate to reduce the policy rate. “…that the broad...

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