Australia and New Zealand Start the Day with Sprinting Success as Markets Await Australian CPI
Key Takeaways
- •Lachland Kennedy won silver in the men’s sprint with a time of 9.85 seconds despite rain.
- •Zoe Hobbs won gold for New Zealand in the women’s sprint and set an area record.
- •Australia’s June CPI report is the key market event of the day and will inform expectations for the next RBA meeting.
- •The market consensus is for headline inflation to remain at 4.0% year over year, while trimmed mean inflation is expected to rise to 3.7%.
- •South Korean stocks remain in focus after the Kospi fell 10.8% in the previous session.
Australia and New Zealand Start the Day with Sprinting Success as Markets Await Australian CPI
What is coming up today as Australia and New Zealand celebrate sprinting glory
A major day on the track has just concluded at the Commonwealth Games, with Oceanic records set by an Australian and a New Zealander.
Lachland Kennedy ran 9.85 to win silver and set the record for a white guy, despite heavy rain. He was edged out by Cameroon’s Robert Eseme. In the women’s event, Zoe Hobbs also set an area record and won gold for New Zealand.
That is a strong start to the day in the region, but what happens in local markets will depend on today’s Australian CPI report, which is a pivotal release. Yesterday, RBA Governor Bullock said she was not sure how the upcoming meeting would go, and today’s inflation report will be closely watched because it is one of the clearest inputs ahead of that decision. The consensus for the June data is for headline inflation to hold steady at 4.0% year over year, while the trimmed mean is expected to rise to 3.7% from 3.6%. Quarterly data will also be released, adding another read on price pressures.
Beyond that, scheduled news is limited, but attention will remain on South Korean stocks after the Kospi fell 10.8% yesterday, a reminder that regional sentiment can still shift sharply even when the calendar is thin.
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