Westpac IQ Economics Morning Report
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US economy shows solid performance; pricing for a 50 basis point Fed rate cut is likely overdone; Dow Jones hits record high; S&P 500 flat, NASDAQ down 0.2%; US treasury yields rise; US dollar strengthens above 101; Aussie dollar peaks at 0.6824 but falls below 0.6800; Crude oil prices rise due to Libya's export suspension; Private business capex in Australia down 2.2% in June quarter; Eurozone consumer confidence at -13.5; Germany's CPI down 0.1% in August; US GDP growth revised to 3.0% for June quarter; initial jobless claims steady at 231k.

#Economy #Market #Us #Australia #Eurozone #Commodities #InterestRates #Currency #Business #Inflation

https://www.westpaciq.com.au/economics/2024/08/Morning-report-30-Aug-2024