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Morning comment: Post-Commons Pre-Fed data deluge

Chris Scicluna
Mantas Vanagas
  • After last night's Brexit votes in the House of Commons, and ahead of today's Fed press conference, the latest Japanese retail sales, French GDP and German consumer confidence numbers all surprised on the upside. And Aussie inflation figures broadly met expectations, suggesting no need for the RBA to shift its policy setting for a while to come. 

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Brexit votes: No game-changers today

Chris Scicluna
  • There were no major game-changers from this evening’s seven Brexit votes in the House of Commons.
  • May lives to fight (and negotiate) another day. All key Brexit scenarios remain feasible, including an eventual deal, an Article 50 extension, or a no-deal Brexit. And MPs will have to come back in a fortnight's time to take stock and vote all over again.

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Morning comment: Aussie & French sentiment & more Brexit votes

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • Following yesterday's losses on Wall Street, it was a quiet day in Asian markets, although the latest Aussie business sentiment survey was a significant disappointment. After a better French consumer survey, meanwhile, attention in Europe shifts to this evening's Brexit votes, which could highlight the complete vaccuum in UK policy.    

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The week ahead, w/c 28 January

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • Despite another decent showing on Friday in US equity markets, Asian markets were relatively subdued today in the absence of significant domestic economic news. This week could well see global risk appetite pivot on Fed Chair Powell's post-FOMC comments on Wednesday, while US payrolls, euro area GDP and inflation feature on a busy data calendar. And Tuesday's UK parliament votes could see MPs take greater control over Brexit. 

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Morning comment: A rare Japanese CPI upside surprise

Chris Scicluna
Emily Nicol
Mantas Vanagas
  • While Asian equity markets were upbeat overnight, and the ECB's announcements yesterday continue to support periphery euro area govvies, JGBs were a touch firmer despite a significant upside surprise from the latest Tokyo inflation data. 

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