CPI (QoQ) (Q3): weak Trimmed Mean CPI (QoQ) (Q3): stable PPI (QoQ) (Q3): stable Caixin Manufacturing PMI (Oct): strong ( High sensitive) Probability of rate cut: Aussie cash rate futures are showing 87% odds of the RBA staying flat for next week (Nov 5).
Cites the dangers of shrinking interest rate spread Negative rates and readiness to intervene in FX still essential to keep the pressure on the franc Cannot say when Switzerland will return to a positive rate