Wednesday 2nd July 2025

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President Trump's big, beautiful bill has passed through the Senate with the narrowest of margins and now goes back to the House with a chance that it will get approval by the 4th of July. NAB’s Rodrigo Catril says the passage of the bill could be partially responsible for the US dollar reaching a multi-year low today given the deficit implications that the bill provides. Rodrigo also discusses with Phil the latest US manufacturing ISM, what's being said at Sintra, New Zealand's latest business opinion survey and looks ahead to today's Australian retail sales numbers.

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