ANZ's morning focus highlights a surge in US JOLTS job openings alongside rising Euro area inflation, while supply-side constraints boost energy and metals.
Key Takeaways
- 1.US JOLTS job openings surged to 7.618m, but underlying data shows hiring concentrated in one sector (professional services) while overall hiring fell.
- 2.Euro area inflation rose to 3.2% y/y, supporting expectations for a 25bp ECB rate hike in June despite weak growth and service PMI data.
- 3.Global energy and industrial metal sectors are supported by supply-side disruptions, including Middle East tensions and strikes at Australia's Ichthys LNG project.
Table of Contents
- Highlights
- Today (AEST)
- Global markets overview
- Data/event pulse
- Key themes and views
- Commodities
- Important Notice
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Authors
Jasmine ZhengBrian MartinDaniel Hynes
Securities
S&P 500AUDUSDIchthys LNGNickel
Themes
Monetary Policy DivergenceGeopolitical Supply Disruptions
Regions
North AmericaAsia PacificEuropeAustraliaUnited StatesIndonesia