China cuts tariffs, Aussie retail pushes rate cuts back

China will halve the tariffs on a swathe of US imports next week, driving optimism in equities in the US and Asia. NAB’s Tapas Strickland says this, together with earnings and positive economic data is helping to drive equities still further, despite continued concerns over the Coronavirus. The pound, meanwhile, is struggling as the EU pushes hard on the need for regulatory control of the City. Locally, retail sales have been well received, pushing back the expectation for when the RBA will cut rates. Today the RBA publishes its statement on monetary policy, including revised forecasts, just as Philip Lowe appears in front of the parliamentary committee. And tonight, the non-farm payrolls data is expected to show further signs of US strength.

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