Marcus Today End of Day Podcast – Friday 4th November

ASX 200 up 35 points to 6893. Up 1.5% for the week. Australia outperformed the US markets this week, helped by a 113-point rise on Tuesday as the RBA went soft yet again with a 25bp rate rise. The RBA upgraded inflation and downgraded GDP forecasts in their Statement on Monetary Policy today. GDP forecast to fall below 2.00% from mid-2023. Bond yields fell in Australia on the back of that. The RBA see inflation above their 2-3% target through 2024. A range of 65 points for the day as the market awaits US Jobs numbers tonight. Closed pretty much on its highs led by Resources which were chasing a 5% rally in the Dalian iron ore price.

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