Market news

Show news:


04.06.2019 18:36

Australia's Q1 GDP likely to disappoint - ANZ

Felicity Emmett, a senior economist at ANZ, is expecting another disappointing advance in Australia’s GDP of 0.4% q/q in Q1, which would see annual growth decline to 1.7%, - its slowest pace since 2009 in the midst of the global financial crisis.

  • “GDP growth, at +0.4% q/q and +1.7% y/y, looks to be a little lower than the RBA expected at the time of its May Statement on Monetary Policy, with the Bank’s June forecast of +1.7% y/y requiring growth of 0.6%-0.7% q/q on average in Q1 and Q2.
  • For the RBA, the surprise weakness looks to have come from business investment which partial data suggest was soft again in Q1.
  • In Wednesday’s report, the focus will once again be on the household indicators – consumption and income. Weak retail sales volumes (-0.1%) point to relatively modest growth in consumer spending. While retail spending accounts for only around 30% of consumption, falling house prices and ongoing soft income growth will have weighed on consumer spending in the quarter. We will also be watching the GDP measure of average wages. Preliminary data suggest this is likely to continue to show only fairly modest growth.
  • The Q1 GDP data is already quite dated. Since March, we’ve had the announcement of large personal income tax cuts, a surprise election outcome, the prospect of imminent interest rate cuts and an easing in borrowing constraints. Conversely, we’ve also had a deterioration in the international outlook and a fall in domestic business conditions and confidence. Together, these factors raise the uncertainty around the outlook.”


Keep up with latest Forex market news updates: Currencies, central banks, economic indicators for oil and gold trading – all you need to work effectively on Forex.

Market focus

October 2019
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2013
  • 2012
  • 2011
  • 2010
  • 2009
  • 2008
  • 2007
  • 2006
  • 2005
  • 2004
  • 2003
  • 2002
Mon
Tue
Wed
Thu
Fri
Sat
Sun
21
22
23
24
25
26
27
28
29
30
31

Forex is open 24 hours a day, 5 days a week (except national holidays), and it can be broken up to the following four regional markets: Australia and Oceania, Asia, Europe, and America. A Forex trading session opens at 23:00 GMT on Sunday in Japan and closes at 22:00 GMT on Friday in the USA.

 
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Pacific Wellington 19:00 04:00 22:00 07:00 22:00 07:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Sydney 21:00 06:00 00:00 09:00 00:00 09:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Asian Tokyo 23:00 08:00 02:00 11:00 02:00 11:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Hong Kong, Singapore 00:00 09:00 03:00 12:00 03:00 12:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
European Frankfurt, Zurich, Paris 06:00 15:00 09:00 18:00 9:00 18:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenCloseе
London 07:00 16:00 10:00 19:00 10:00 19:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
American New York 12:00 21:00 15:00 00:00 15:00 00:00
Session Financial Centres UTC/GMT
OpenClose
EET
OpenClose
Local Time
OpenClose
Chicago 13:00 22:00 16:00 01:00 16:00 01:00