- The University of Michigan consumer sentiment index slipped to 50.3 in November from 53.6 in October, pointing to softer household confidence as cost-of-living pressures linger.
- Sentiment remains near record lows in data going back to 1977, coming in much weaker than market forecasts and highlighting persistent caution among US consumers.
- The US government shutdown has now stretched into its sixth week, with negotiations showing little progress and the impact beginning to filter through to broader economic activity.
- Key federal data releases, including payrolls and inflation figures, have been delayed or risk cancellation adding further uncertainty to the Fed’s outlook as it weighs its December meeting.
- Domestically, it’s a full data calendar ahead with RBA’s Hauser speaking, along with the NAB Business Survey, Westpac-MI consumer sentiment, and labour force figures all in focus this week.
