Brett Careedy

The ABS released the Labour Force survey, Job Vacancies and the monthly Household Spending Indicator for May 2026. Read together, paint a consistent picture: headline figures that look broadly stable, but detail that points to an economy losing momentum beneath the surface. Neither release is likely to move the dial materially on RBA rate expectations ahead of August. The Q2 inflation data will be decisive. Labour Force & Job Vacancies The ABS reported the seasonally adjusted unemployment...

Headline CPI inflation eased further in May, helped by falling fuel prices. Underlying inflation told a stickier story, surprising to the upside and hitting the highest annual rate since 2024. Australian headline CPI inflation eased to +4.0% yoy in the 12 months to May 2026, down from +4.2% in April and below the consensus forecast of +4.3%, according to the ABS. On a monthly basis, the CPI fell -0.7% in original terms and -0.1% in seasonally adjusted terms. The trimmed mean measure of...

Global markets rose despite more hawkish central bank messages, as investors priced a higher-for-longer real-rate outlook. The incoming Fed Chair also unveiled an ambitious plan of reforms. Oil prices retreated on the proposed US-Iran memorandum, although Iran closed the Strait of Hormuz over the weekend, casting doubt on progress. Chinese activity data showed further weakness in domestic demand, while industrial output surprised to the upside. Besides the Middle East peace talks, the main...