Tuesday 30th January 2024

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For all the delaying tactics of central bank speakers, markets are still pricing cuts earlier for the fed and the ECB. So who goes first? NAB’s Ray Attrill says it’s a two-horse race, although markets are pricing in early cuts in Europe. That could all change, of course, depending on what’s said by the FOMC tomorrow. Europe’s destiny will be somewhat shaped by it’s GDP numbers today, which are expected top show that the Euro area is in recession. There’s also discussion about Australia’s retail numbers out today, which are expected to show a fall in December in response to the bounce in sales (because of sales) in November.

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