PGI
This week isn't about a single central bank.
It's about the RBA's forecast rate hike setting the tone, before inflation and payrolls data test the wider policy picture.
(Forecasts vs previous data below, actuals will drive the move)
Lagarde Opens The Week
Early commentary from Lagarde sets the tone ahead of Tuesday's RBA decision.
The RBA Decides
A forecast RBA hike would mark a shift in Australian policy, with Canadian growth and US confidence data rounding out the session.
Inflation And Growth Collide
This is the key day of the week.
- Australian CPI, forecast to accelerate on the year
- German inflation, an early Eurozone signal
- Core PCE, the Fed's preferred inflation gauge
- Final GDP, confirmation of the quarter's growth pace
Inflation and growth collide.
Central Bank Voices Continue
A dense run of central bank commentary sits alongside US claims and manufacturing data ahead of Friday's payrolls.
Payrolls Close The Week
Non-Farm Payrolls provides the week's final read on US labour market momentum, alongside a fresh Eurozone inflation estimate.
Central Bank Backdrop, Rates Remain Restrictive
Interest rate divergence continues to shape capital flows across global markets.
The Bigger Picture
- The RBA's forecast hike is the week's clearest policy signal
- Core PCE will confirm or challenge the current pace of Fed easing
- Australian and German inflation frame the global price backdrop
- Non-Farm Payrolls closes the week as the final labour market check
Everything builds into inflation vs growth vs policy.
Actual data vs expectations = the move.
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