Analysts at ANZ are expecting Australian GDP to grow by around 2.5% through 2019 and 2020, matching the average since 2013, lower than previously anticipated and reflecting a more cautious outlook for wages, household spending and non-mining investment.
Key Quotes
“There is some offset from more expansionary fiscal policy, and we expect net exports to contribute – not just because of a continued lift in LNG volumes.”
“Downside risks seem easy to identify, not least the uncertain impact of the slide in house prices on the outlook for household spending and residential construction.”
“On the upside, while we have built some further fiscal slippage into our forecasts it could be larger. We’ll find out the fiscal starting point for the election campaign in the Budget on 2 April.”
“We have the RBA on hold in 2019-20, consistent with the expectation that the unemployment rate ends 2020 a little lower than currently.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD holds steady near 1.0900 after ZEW sentiment data
EUR/USD continues to fluctuate at around 1.0900 in the European session on Tuesday. The data published by ZEW showed that the Economic Sentiment Index for Germany and the Eurozone declined sharply in July, making it hard for the Euro to find demand.
GBP/USD bounces off 1.2950 ahead of US data
GBP/USD has recaptured the 1.2950 barrier in European trading on Tuesday, reverting toward the 2024 high of 1.2995. The pair shrugs off a cautious market mood, as the US Dollar stalls its rebound ahead of the US Retail Sales data and Fedspeak.
Gold gathers pace to retest all-time high at $2,450
Gold price is looking to extend previous gains early Tuesday, having clinched a new two-month high at $2,440 a day ago. Growing expectations that a US Federal Reserve interest-rate cut in September is a done deal continue to underpin the non-interest-bearing Gold price.
Litecoin price sets for a rally following the breakout of a falling wedge
Litecoin price broke above the falling wedge pattern on Monday, trading 1.36% higher on Tuesday. On-chain data highlights a capitulation event for LTC on July 15, potentially signaling forthcoming bullish momentum.
Canada CPI Preview: Inflation expected to ease in June as BoC ponders additional rate cuts
Canada is set to reveal the latest inflation data on Tuesday, with Statistics Canada publishing the CPI for June. Forecasts predict disinflationary pressures to resume in both the headline CPI and the Core CPI following May’s hiccup.