- There were plenty of geopolitical headlines dominating the news streams overnight, with martial law announced in South Korea before being quickly rescinded, while a no-confidence vote is on the way in France.
- Despite the headlines, markets in other jurisdictions were little affected as they await more top-tier data in the days ahead.
- Yesterday saw the release of the last of the GDP partial indicators in Australia, with net exports set to contribute around one-third of what was expected to the final GDP print today.
- With all the partial indicators now released, the market expects the economy must have grown by 0.5% last quarter, up from 0.2% in the previous quarter.
- Despite the quarterly pickup, this would only lift the annual pace of growth from 1% to 1.1%.
