US hope, UK fears, Aussie CPI

US equities are on the rise, with AI behind a chunk of it, helped by enthusiasm for Alphabet’s new chip, which can do marvellous thing apparently. But in US consumer-land demand is slowing, if September’s retail sales are anything to go by. Of course that was a while ago now, so more up to date records, like the Fed’s Beige Book tonight, will be scrutinised more than normal perhaps. Markets also responded to further speculation that Kevin Hassett will become the Fed chair next year, which could see interest rates pushed lower. Today Australia’s first monthly CPI report is out, the RBNZ makes a decision, and the UK budget is bound to upset someone and create some market volatility, whatever they decide.

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