China's and Australia's flags are seen on the tables where China's Foreign Minister Wang Yi and Australia's Foreign Minister Penny Wong held their bilateral meeting at Parliament House in Canberra on March 20, 2024.
Asia-Pacific markets tracked Wall Street gains on Monday as a softer-than-expected U.S. jobs report fueled hopes that the Federal Reserve could start cutting rates soon.
Investors, meanwhile, awaited the Reserve Bank of Australia's rate decision on Tuesday and China's April trade data on Thursday.
ING said in a note last week that the RBA meeting was "worth watching closely," adding that recent inflation data from Australia showed growth in prices was starting to accelerate.
However, the analysts said Australia's inflation data was better than they had expected, and compared to the US, the country's economy had slowed more with the labor market softening substantially.
Persons:
Wang Yi, Penny Wong
Organizations:
House, Wall, Federal Reserve, Investors, Reserve Bank, ING, Global
Locations:
Canberra, Asia, Pacific, Australia, Hong Kong, China, India, Japan, South