Thursday 18th July 2019

The Fed’s Beige Book was out this morning and NAB’s David de Garis has been flicking through the pages. He tells Phil Dobbie that the report talks of modest growth, with slowing employment growth and concerns about trade related uncertainty. There’s also some concern about the US debt ceiling again. Could we be heading for another government shutdown? The pound has bounced back, despite any Brexit news that doesn’t point to a no-deal or a kamikaze election for the Tories. Whgilst employment data is the big event for Australia – will the numbers march in the direction of the RBA’s target of 4.5% unemployment?