NAB Morning Call

Wednesday 6th March 2019

It’s been a strong 24 hours for data releases. As NAB’S Ray Attrill discusses with Phil Dobbie, the non-manufacturing ISM numbers rebounded in the US in February and home sales beat expectations, whilst European PMIs were revised upwards and UK services PMI came in stronger than expected. There’s good news from the RBA too, who still expect Australia economic growth to reach 3 percent this year – but do we believe them? Philip Lowe will no doubt get some tough questions on housing this morning when he addresses an audience in Sydney. Whilst Donald Trump says nothing about China, and puts India (as well as Europe) in his sights.

Wednesday 6th March 2019

It’s been a strong 24 hours for data releases. As NAB’S Ray Attrill discusses with Phil Dobbie, the non-manufacturing ISM numbers rebounded in the US in February and home sales beat expectations, whilst European PMIs were revised upwards and UK services PMI came in stronger than expected. There’s good news from the RBA too, who still expect Australia economic growth to reach 3 percent this year – but do we believe them? Philip Lowe will no doubt get some tough questions on housing this morning when he addresses an audience in Sydney. Whilst Donald Trump says nothing about China, and puts India (as well as Europe) in his sights.

Wednesday 6th March 2019

It’s been a strong 24 hours for data releases. As NAB’S Ray Attrill discusses with Phil Dobbie, the non-manufacturing ISM numbers rebounded in the US in February and home sales beat expectations, whilst European PMIs were revised upwards and UK services PMI came in stronger than expected. There’s good news from the RBA too, who still expect Australia economic growth to reach 3 percent this year – but do we believe them? Philip Lowe will no doubt get some tough questions on housing this morning when he addresses an audience in Sydney. Whilst Donald Trump says nothing about China, and puts India (as well as Europe) in his sights.

Tuesday 5th March 2019

The markets in the US and Asia were buoyed by news that a deal between the US and China was close. The Wall Street Journal even put on a date on the signing ceremony. But, as Phil Dobbie discusses with NAB’s Tapas Strickland, the markets switched direction as they waited for any official confirmation of progress. They’re still waiting. Meanwhile, GDP partials for Australia suggest a slower growth number tomorrow, and the RBA meets today, as questions remain about the extent of the country’s housing downturn.

Tuesday 5th March 2019

The markets in the US and Asia were buoyed by news that a deal between the US and China was close. The Wall Street Journal even put on a date on the signing ceremony. But, as Phil Dobbie discusses with NAB’s Tapas Strickland, the markets switched direction as they waited for any official confirmation of progress. They’re still waiting. Meanwhile, GDP partials for Australia suggest a slower growth number tomorrow, and the RBA meets today, as questions remain about the extent of the country’s housing downturn.

Monday 4th March 2019

The US saw some poor economic data on Friday, including the ISM index hitting a two year low. Yet bond yields rose and so did equities. NAB’s Rodrigo Catril tells Phil Dobbie that it’s because the US downturn doesn’t seem to be as severe in other parts of the world, particularly Europe. They also discuss President Trump, who gave his longest speech so far over the weekend, attacking the Fed’s rate hikes in the process. Could this influence the dollar today? Plus, how he is pushing China to respond on agricultural tariffs. And a busy week ahead for Australia.

Monday 4th March 2019

The US saw some poor economic data on Friday, including the ISM index hitting a two year low. Yet bond yields rose and so did equities. NAB’s Rodrigo Catril tells Phil Dobbie that it’s because the US downturn doesn’t seem to be as severe in other parts of the world, particularly Europe. They also discuss President Trump, who gave his longest speech so far over the weekend, attacking the Fed’s rate hikes in the process. Could this influence the dollar today? Plus, how he is pushing China to respond on agricultural tariffs. And a busy week ahead for Australia.

Friday 1st March 2019

Trump’s walkout of the meeting with Kim Jong Un dominated the news media overnight, but has little interest to the markets. Instead, there’s more interest in the China trade talks, which NAB’s Gavin Friend should be viewed with some optimism. It’s the same with Brexit, where a no-deal is highly unlikely. US GDP data adds to the day’s good news, along with Aussie capex numbers, but they’re offset by weaker data for China and falling business confidence in New Zealand.

Friday 1st March 2019

Trump’s walkout of the meeting with Kim Jong Un dominated the news media overnight, but has little interest to the markets. Instead, there’s more interest in the China trade talks, which NAB’s Gavin Friend should be viewed with some optimism. It’s the same with Brexit, where a no-deal is highly unlikely. US GDP data adds to the day’s good news, along with Aussie capex numbers, but they’re offset by weaker data for China and falling business confidence in New Zealand.

Friday 1st March 2019

Trump’s walkout of the meeting with Kim Jong Un dominated the news media overnight, but has little interest to the markets. Instead, there’s more interest in the China trade talks, which NAB’s Gavin Friend should be viewed with some optimism. It’s the same with Brexit, where a no-deal is highly unlikely. US GDP data adds to the day’s good news, along with Aussie capex numbers, but they’re offset by weaker data for China and falling business confidence in New Zealand.