Australian share futures are pointing to a muted open. Materials led all 11 S&P 500 industry sectors down. $A slides anew. Bitcoin steady.
The RBA will be relieved that the government has little intention to give subsidies to Australians from a brighter budget outcome ahead of another cash rate increase.AUD -0.8% to 68.70 US centsIn New York: BHP -2% Rio -1.5% Atlassian +3.2%In Europe: Stoxx 50 -1.2% FTSE -0.8% CAC -1.3% DAX -0.8%Iron ore -1.5% to $US123.
“Still, what tilts the balance of opinion toward another hike was the strong upside surprise to Australian inflation not only in Q4 but also for the final month of the year, given that Australia started to release monthly CPI estimates in October. “What I see is a path in which inflation is declining significantly and the economy is remaining strong,” Yellen said in an interview on ABC’s “Good Morning America” program.
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