Private new capital expenditure in the fourth quarter of 2019, a big, big miss
- Estimate 5 for '19-20: AUD 120bn (from 117 for the previous estimate, 4)
Another drag on Q4 GDP (data due Wednesday 4 March)
US President Trump says he disagrees with the Federal Reserve on interest rates
The press briefing is about the tragic events unfolding on the coronavirus outbreak but Trump gets in his dig at the Fed.
Trump wants the US stock market propped up to help his election chances, so he wants the Fed to lower rates.
Coronavirus - JP Morgan slash their global growth outlook
JPM are not listening to the platitudes emanating from the Trump press conference.
- damage to China is severe
- largely due to the significant degree to which authorities have acted to contain the outbreak
A coronavirus case has been found in California - of unknown origin
This is significant because its the first U.S coronavirus case of unknown origin confirmed
S&P500 futures lower
US President Trump is giving a press conference, its just empty platitudes. He has nothing and this latest from Northern California is spooking US equities.
US President Trump coronavirus briefing underway - FX not moving
A rare briefing for the press from US President Trump
So far is platitudes and such.
- risk to the American people from the virus is very low
- we are ready to act and do whatever we have to
Forex unmoved. S&P500 futures trading a little lower on Globex (overnight trade)
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