Volatility associated with November’s US election should finally be over,
enabling investors to refocus on economic prospects and the outlook for
corporate profitability & central bank policy.
Australian inflation recorded at 0.9% in the 2020 calendar year, nearly double what the Reserve Bank of Australia forecasted in November’s Statement on Monetary Policy.
The November CPI print showed that monthly trimmed mean inflation decelerated from 3.5% to 3.2%. While services and housing inflation continued the downward trend, electricity prices surprised to the upside after various subsidies came off.
Manufacturing PMI in November increased to roughly 50, hovering near the breakpoint between expansion and contraction.
