5 in 5 with ANZ ANZ

European stocks fall after French President Emmanuel Macron’s surprise decision to call Parliamentary elections he is forecast to lose. We preview the Fed’s decision this week, and look out to US inflation data
In our bonus deep dive interview, ANZ New Zealand Chief Economist Sharon Zollner talks about why she sees the Reserve Bank of New Zealand cutting in February next year, rather than May.

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The ECB cuts rates overnight as expected, but reluctantly. Australian housing lending jumps in April as rental property investors build up a head of steam, while building work slows in New Zealand.
In our bonus deep dive interview, ANZ Senior Commodities Strategist Daniel Hynes reviews the OPEC+ meeting earlier this week and its impact on the oil market.

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Stronger US services activity is shrugged off as rate cut hopes increase off the back of a cut by Bank of Canada and expectations the ECB will also move. Australia’s economy hangs onto growth, boosted by stronger household consumption.
In our bonus deep dive interview, ANZ Senior Economist Catherine Birch highlights work Australia’s Fair Work Commission is undertaking on gender undervaluation.

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India’s election throws a curveball into the markets, with Narendra Modi’s BJP failing to secure a majority; US markets increase Fed rate cut bets after soft job openings data; And in Australia, weaker net export figures could be a drag on GDP data out today.
In our bonus deep dive interview, ANZ Economist Dhiraj Nim outlines what India’s election result could mean for fiscal and monetary policy there following the election result.

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US Treasury yields and stocks fell overnight as weak manufacturing and construction data indicated monetary policy is reducing demand in the US; The Aussie and Kiwi are up as the US dollar fell. Oil fell 3.7% on supply news out of OPEC+. India’s Nifty 50 stocks index rose 3.3% after exit polls indicated a third term for PM Narendra Modi.
In our bonus deep dive interview, ANZ FX Analyst Kausani Basak looks at why imports across Asia have started to improve since bottoming out last year.

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India’s markets are expected to celebrate after exit polls saw Narendra Modi winning a third term. India’s GDP was also above forecasts. China’s factory activity contracted in May. Australia’s Fair Work Commission is set to slow minimum wage inflation.
In our bonus deep dive interview, ANZ Chief Economist for Southeast Asia and India Sanjay Mathur explains how extreme temperatures in India, the Philippines and Indonesia are upending rice markets again.

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