The Employment Numberwang Confuses The Markets Upwards!

Fickle investors are no longer pricing the possibility of another cash rate rise from the RBA after data released overnight showed US inflation cooled to 3.4 per cent in April, putting an end to a three-month streak of hotter-than-expected US CPI data; and the Australian Employment numbers from the ABS peak up to an unemployment rate of 4.1%, from a revised 3.9% last month. This bad news is good news drove the ASX 1.65 per cent higher today, and the US markets already went into record territory, again on the falling inflation read. Now I have been highlighting that the […]