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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
Westpac’s leading index for February rose 0.08% m/m to be flat up from -0.2% on the 6-month annualised basis, which leads detrended growth by 3 to 9 months. The indicator continues to signal sub-trend but stabilising growth into the second half of this year. The soft growth seen at the end of 2023 appears to have continued into H1 2024. Westpac believes that the RBA is on hold for now.
- Higher commodity prices have driven the improvement in the 6-month rate but they may have turned, especially iron ore. Equities, yield spread and consumer confidence have made small positive contributions while US IP, hours worked and dwelling approvals have contracted.
Australia Westpac lead indicator vs GDP %
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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