PREVIOUS TRADING DAY EVENTS 26 April 2023

Announcements 

CPI figures for Australia show that it rose by 1.4 this quarter. The annual pace slowed to 7.0 from 7.8, suggesting inflation had finally peaked after two years of rapid acceleration in costs.

Even though it is quite high, core inflation remains far above the RBAs target band of 23. The Reserve Bank of Australia e streak.RBA resumed raising rates at its May 2 meeting, having paused in April after a 10hike.

Headline inflation has peaked, and weaker tradables inflation will contribute to slower inflation over the rest of 2023, said Sean Langcake, head of macroeconomic forecasting for BIS Oxford Economics.

But we think there is enough momentum in core and services inflation to warrant tighter policy settings, and maintain our expectation for another rate hike in May.

Source httpswww.reuters.commarketsaustraliainflationeasesq1likelypastpeak20230426textData from the Australian Bureau,smallest increase since late 2021.

The U.S. Durable Goods Orders showed an increase of 3.2, or 8.6 billion, in March to 276.4 billion. This reading surpassed the market expectation for an increase of 0.8 by a wide margin. New orders for key U.S.manufactured capital goods fell more than expected in March and shipments declined.

The economy isnt going off the rails yet, said Christopher Rupkey, chief economist at FWDBNDS in New York.

Equipment spending was likely a bit weaker in the first quarter, said Shannon Seery, an…