Market movers for the day – Rabobank

Research Team at Rabobank lists down the key market moving events from across the globe for today’s session.

Key Quotes

“Today we have already seen Aussie Q4 2016 wages come in at 0.5% q-o-q and 1.9% y-o-y – so basically zero once inflation picks up. See why everyone is borrowing, RBA?”

“In China we have seen January property prices, which saw Beijing unchanged m-o-m but 27% y-oy, Shanghai -0.1% and 28.3% y-o-y. Prices rose m-o-m in 45 of 70 cities vs. 46 in December, but 66 in y-o-y terms. That’s further evidence that the housing market is cooling only very slowly, it seems – and that more cooling measures might need to be put in place.”

“Next up it is the German IFO survey, which is expected to edge down slightly but may surprise to the upside after the good set of PMI data in Europe yesterday. After that it’s another look at UK Q4 GDP, final Eurozone January CPI, and then Canadian retail sales and US existing home sales.”

“In Brazil we will also have a Selic rate decision, which our Boy from Brazil Mauricio ‘Agent’ Oreng reports is likely to see another 75bp rate cut to 12.25% - at least there’s a bright spot there!”