5 in 5 with ANZ ANZ

Global markets are flat ahead of Fed minutes. The RBA board discussed a rate hike more than was thought. Aussie renters feel more confident after the Budget. There are rate decisions today in New Zealand and Indonesia.
In our bonus deep dive interview, ANZ Senior Commodity Strategist Daniel Hynes looks at why global oil demand has been dragged down recently. One reason is Americans are driving less.

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US Fed officials see disinflation progress and indicate rate rises are unlikely. US dollar firms further vs the Yen. China property prices would need to fall 35% to trigger buyer interest because rental yields are still too low, says ANZ China Strategist Zhaopeng Xing.
In our bonus deep dive interview, ANZ New Zealand Senior Economist Miles Workman looks at why New Zealand’s soggy economic outlook is unlikely to get much support from the RBNZ, which is expected to hold rates at 5.5% tomorrow.

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China has announced a major rescue package to buy unsold apartments and remove restrictions for homebuyers. New Zealand’s economy is soggy, but shouldn’t expect help from a rate cut any time soon.
In our bonus deep dive interview, ANZ Chief Economist for Southeast Asia and India Sanjay Mathur analyses what labour costs across Southeast Asian economies say about their regional competitiveness and productivity.

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The Dow rises through 40,000. Fed speakers see monetary policy working. US jobless claims and factory output data reinforce hopes for a rate cut or cuts later this year. Australia’s labour market may be softening faster than the RBA is expecting.
In our bonus deep dive interview, following on from our coverage of China’s politburo declaring they want to reduce unsold property inventories, ANZ Chief Economist for Greater China Raymond Yeung say they need to be careful from a financial stability perspective that prices don’t drop too much.

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US Treasury yields are down after April CPI was softer than expected, but the Fed may still want to wait. The Aussie and Kiwi dollars jump. Good news for the RBA as Australian wage growth peaks. Japan’s economy may have contracted in Q1.
In our bonus deep dive interview, ANZ Head of FX Research Mahjabeen Zaman discusses ANZ’s call this week that the US dollar won’t weaken as much over the year as previously expected.

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The US Fed Chair shrugs off stronger US producer prices ahead of CPI data tonight. Power rebates & tax cuts turn Australian budget surpluses into deficits, but also cut inflation. New Zealand’s property market continues to struggle.
In our bonus deep dive interview, ANZ Head of G3 Economics Brian Martin explains why monetary policies of the world’s major central banks are diverging.

Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/