- The week ahead brings the NAB Business Survey, which fell to -8 in August as sentiment remained subdued, and Tuesday’s RBA minutes, which should offer further insight into the RBA’s thinking after its fourth hike of the year took the cash rate to 4.60%.
- September employment data is also due, with consensus expecting around 20k jobs added and the unemployment rate steady at 4.6%, following almost 40k jobs added in August.
- Brent crude is trading near US$105/bbl, as the prospect of a wave of Russian diesel hitting global markets competed with further military escalation in the Gulf, including airstrikes in Riyadh, and mounting global supply risks.
- US Treasury cash markets are closed on Monday for Columbus Day, with investor focus shifting to upcoming US inflation data and Fed commentary as markets shape expectations for the FOMC’s October meeting.
