NAB Morning Call

Thursday 1st November 2018

US equities bounced higher overnight, helped by Facebook’s earnings numbers. Phil Dobbie asks NAB’s David de Garis whether there’s any logic to the markets behaviour right now. They also discuss movements in bond yields as the government issues more debt, how Brexit negotiations supposedly have an end date, what to expect from Australia’s balance of trade, and what hit the Aussie dollar overnight?

Wednesday 31st October 2018

There’s still uncertainty in the equity markets but numbers are up a little in the US overnight. The US dollar hit new highs on the back of a falling Euro and Pound; the Euro hit by weak growth numbers. Phil Dobbie asks NAB’s Rodrigo Catril how, with QE still in place and a weak Euro, the ECB can expect growth to pick up? They also look ahead to today’s inflation numbers for Australia and a plethora of other data to add to the market confusion.

Wednesday 31st October 2018

There’s still uncertainty in the equity markets but numbers are up a little in the US overnight. The US dollar hit new highs on the back of a falling Euro and Pound; the Euro hit by weak growth numbers. Phil Dobbie asks NAB’s Rodrigo Catril how, with QE still in place and a weak Euro, the ECB can expect growth to pick up? They also look ahead to today’s inflation numbers for Australia and a plethora of other data to add to the market confusion.

Tuesday 30th October 2018

Equities rebounded sharply at the start of the session in the US, but lost ground, but are still up on the day. The exception being the NASDAQ but, as Phil Dobbie discusses with NAB’s Gavin Friend, there is more of a risk-on mood today. So did the ‘correction’ go too far? They also look at the market reaction to Angela Merkel’s decision to stand down at the next election (some way off yet), and how the UK budget spooked the NASDAQ.

Tuesday 30th October 2018

Equities rebounded sharply at the start of the session in the US, but lost ground, but are still up on the day. The exception being the NASDAQ but, as Phil Dobbie discusses with NAB’s Gavin Friend, there is more of a risk-on mood today. So did the ‘correction’ go too far? They also look at the market reaction to Angela Merkel’s decision to stand down at the next election (some way off yet), and how the UK budget spooked the NASDAQ.

Monday 29th October 2018

After more sell offs in US equities on Friday, the big question is, what will happen this week? Phil Dobbie asks NAB’s Ray Attrill what further falls in share prices will mean for the Aussie dollar. They also look at China’s moves to stabilise their currency and Phil asks whether the US economy is really strong enough to sustain the Fed’s anticipated schedule of rate hikes.

Monday 29th October 2018

After more sell offs in US equities on Friday, the big question is, what will happen this week? Phil Dobbie asks NAB’s Ray Attrill what further falls in share prices will mean for the Aussie dollar. They also look at China’s moves to stabilise their currency and Phil asks whether the US economy is really strong enough to sustain the Fed’s anticipated schedule of rate hikes.

Friday 26th October 2018

US equities reversed their declines with a sharp rise overnight, ahead of today’s GDP numbers. We’ve also seen the US dollar rise again. Phil Dobbie asks NSAB’s Rodrigo Catril whether, as it breaks through technical levels, can we expect to see it rise further still? And Mario Draghi seems to have been singularly unsuccessful talking up the European economy, describing uncertainties like tariffs as only temporary. That all depends on your definition of temporary.

Friday 26th October 2018

US equities reversed their declines with a sharp rise overnight, ahead of today’s GDP numbers. We’ve also seen the US dollar rise again. Phil Dobbie asks NSAB’s Rodrigo Catril whether, as it breaks through technical levels, can we expect to see it rise further still? And Mario Draghi seems to have been singularly unsuccessful talking up the European economy, describing uncertainties like tariffs as only temporary. That all depends on your definition of temporary.

Thursday 25th October 2018

The US stock market took another hammering overnight, with a move to safe-haven treasuries. Phil Dobbie asks NAB’s Rodrigo Catril how far this has to go, given the supposed strength of the US economy. There was more confidence north of the border, as the Bank of Canada lifted rates. But what will the ECB say today, meeting after weaker than expected PMI figures. They also look ahead to today’s trade figures for New Zealand.