By Chris Becker
So as the Federal Reserve FOMC begins its meeting, trying to steer the US economy since the Congress and President have no idea, quarterly earnings continue to roll in as oil prices spike on the potential for Saudi Arabian export cuts. This set stocks higher including in Europe where German business confidence is building higher than expected, followed by a solid US consumer confidence print late last night.
Today is “throw a dart at a board and say this is the inflation rate for sometime back in April” day at the ABS with the second quarterly CPI print sure to push the Aussie and stocks around some alongside the Governor’s speech in Sydney shortly after.