The Wage Story in Australia Is Still Subdued

We get t c two wages data as well for australia this morning. Will they be inflationy? Well, not really so far. The key message coming from our economists is that we shouldn't ixpect the big rice this quarter but what we should be ready for is for further increases in three and four. That was the biggest mover out of the major currences overnight. And we get some some more data to day. We get trade figures and machine orders. I mean, are getting hit by energy prices, arent they an of couse, the weaker the yen, the worse it becomes. It's not looking good, like a very good future at the moment