Events that marked the week:
Wednesday's session was marked by Australian CPI figures. Australia’s September quarter consumer price inflation (CPI) report has come in well below expectations, scuppering any talk of a near-term interest rate increase from the Reserve Bank of Australia (RBA). According to the Australian Bureau of Statistics (ABS), headline CPI rose by 0.6% over the September quarter, leaving the change on a year earlier at 1.8%. Economists were looking for an increase of 0.8%, seeing the year-on-year rate tick up from 1.9% to 2%. The quarterly increase was driven by higher utility, tobacco, and travel prices, offsetting weakness in vegetable, fuel and telecommunication costs.
Friday brought Australian PPI figures.Australian PPI rose 0.2% in the September quarter 2017. Increase was mainly due to rises in the prices received for Electricity, gas and water supply (+4.9%), Heavy and civil engineering construction (+0.7%) and Building construction (+0.3%).This waspartly offset by falls in the prices received for Other agriculture (-11.6%), Electronic equipment manufacturing (-4.5%) and Meat and meat product manufacturing (-6.0%).PPI rose 1.6% through the year to the September quarter 2017.
This week markets will be looking at:
China's Manufacturing PMI (Tuesday 3:00)
Trade Balance (Thursday 2:30)
Building Approvals (Thursday 2:30)
Retail Sales (Friday 2:30)
