Thursday 13th December 2018

UK politics becomes even more incomprehensible as Theresa May faces a confidence vote from her own party. NAB’s Gavin Friend in London talks through the impact of the vote on the Brexit process – for now, it’s buoyed the pound a little, but it’s all relative. Meanwhile US equities have had a shot in the arm following a Wall Street Journal report that China might open up access to their domestic markets for foreign companies. And today the ECB meets, with an expected end to asset purchasing. Gavin also talks through NAB’s revised position on interest rate moves for Australia next year.

Wednesday 12th December 2018

Markets have been pulled in each direction in the last 24 hours. First, a positive reaction to reports that China might be about to drop the tariffs on US car imports. Then, reversed by threats from President Trump about a possible government shutdown if he doesn’t get the required funding to build the wall. But, as Phil Dobbie, suggests to NAB’s Rodrigo Catril, haven’t we been here before. Plus, Theresa May’s mission impossible in Europe, Australia’s consumer confidence, tonight’s US CPI and the trade deal the UK could have had, if they’d decided to stay in Europe.

Wednesday 12th December 2018

Markets have been pulled in each direction in the last 24 hours. First, a positive reaction to reports that China might be about to drop the tariffs on US car imports. Then, reversed by threats from President Trump about a possible government shutdown if he doesn’t get the required funding to build the wall. But, as Phil Dobbie, suggests to NAB’s Rodrigo Catril, haven’t we been here before. Plus, Theresa May’s mission impossible in Europe, Australia’s consumer confidence, tonight’s US CPI and the trade deal the UK could have had, if they’d decided to stay in Europe.

The latest NAB business survey shows further weakness in business conditions. Phil Dobbie talks to Ivan Colhoun, NAB’s Chief Economist – Markets, about what’s driving the trend. In fact, this time the survey specifically asked why business conditions are slowing, and whether falling house prices were having an impact on business.

The latest NAB business survey shows further weakness in business conditions. Phil Dobbie talks to Ivan Colhoun, NAB’s Chief Economist – Markets, about what’s driving the trend. In fact, this time the survey specifically asked why business conditions are slowing, and whether falling house prices were having an impact on business.

Tuesday 11th December 2018

The UK PM Theresa May has delayed the parliamentary vote on her Brexit deal, hoping the EU will negotiate on the open-ended nature of the backstop arrangement. But is it rearranging the deckchairs on a doomed deal? Phil Dobbie talks to NAB’s Tapas Strickland in London, where the pound has taken a hit on the increased uncertainty on where Brexit is heading. They also look at the swift turnaround in oil – with OPEC cuts agreed, why are prices sliding again? Plus, more on the plight of the Aussie dollar which, like the ASX, has had a tough 24 hours.

Tuesday 11th December 2018

The UK PM Theresa May has delayed the parliamentary vote on her Brexit deal, hoping the EU will negotiate on the open-ended nature of the backstop arrangement. But is it rearranging the deckchairs on a doomed deal? Phil Dobbie talks to NAB’s Tapas Strickland in London, where the pound has taken a hit on the increased uncertainty on where Brexit is heading. They also look at the swift turnaround in oil – with OPEC cuts agreed, why are prices sliding again? Plus, more on the plight of the Aussie dollar which, like the ASX, has had a tough 24 hours.

Monday 10th December 2018

The markets reacted sharply to weaker than expected payrolls data from the United States, with NAB’s Ray Attrill telling Phil Dobbie that the consequences have filtered through to the early performance of the Aussie dollar this morning. Adding to the uncertainty is China’s threatened response over the weekend to the Huawei arrest last week, and the outcome of the Brexit vote tomorrow. On the positive side, US consumer sentiment remains high, along with spending, and Canada has recorded a surprise fall in unemployment. So, its not all bad news.

Monday 10th December 2018

The markets reacted sharply to weaker than expected payrolls data from the United States, with NAB’s Ray Attrill telling Phil Dobbie that the consequences have filtered through to the early performance of the Aussie dollar this morning. Adding to the uncertainty is China’s threatened response over the weekend to the Huawei arrest last week, and the outcome of the Brexit vote tomorrow. On the positive side, US consumer sentiment remains high, along with spending, and Canada has recorded a surprise fall in unemployment. So, its not all bad news.

Friday 7th December 2018

There were big falls in equities in the US and across Europe overnight, with rises in bonds, the Yen, Gold and the Swiss Franc reinforcing the risk-off mood. As Phil Dobbie discusses with NAB’s David de Garis, the turn in the market this week hasn’t been helped by the arrest of Huawei’s CFO in Canada, hinting at further unrest between the US and China. Oil price also took a hammering as OPEC delays any decision on cuts. They also look ahead to non-farm payrolls to the US tonight, something that, in more stable times, would have been the focus of market attention. And David de Garis asks whether the market reaction reflects the data, which shows the US economy is holding up well.