Richard Goyder and Vanessa Hudson took on limited damage before a Senate committee, but deflected heat back on to the Albanese government.AUD -1% to 63.36 US centsIn New York: BHP +0.5% Rio +0.00% Atlassian +2.8%Spot gold -1.4% to $US1873.82 /oz at 2.16pm in New YorkIron ore +1.2% to $US116.35 a tonneUnited States
A US government shutdown or prolonged strike by automotive workers could slow the economy, meaning the Federal Reserve wouldn’t have to use its tools to ease price growth,“If these downside scenarios hit the US economy, we might then have to do less with our monetary policy to bring inflation back down to 2 per cent because the government shutdown or the auto strike may slow the economy for us,” he said in an interview Wednesday on CNN. “I’m not hoping for that, but there’s an interaction there.
Among individual movers, Dutch insurer NN Group plunged the most since its listing after a court concluded that it shouldn’t have imposed certain costs and deductions on some unit-linked insurances. Retailer HennesMauritz rallied after posting a bigger-than-expected earnings gain reducing an inventory backlog that’s plagued the company for more than seven years.
The recent falls mean the Stoxx 600 has now trimmed its 2023 advance to about 5 per cent, less than half that of the US SP 500. The European benchmark is trading below its 200-day moving average, while in Germany, the DAX is approaching technically oversold levels. writes on monetary policy, equities, commodities and currencies. He is the overnight markets editor and writes Before the Bell.
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