NAB Morning Call

Friday 28th September 2018

The Italian budget wasn’t as easy to resolve as the markets had hoped. As NAB’s Rodrigo Catril explains, the difficulties in keeping within EU regulations over budget deficits have hurt the Euro, which has boosted the US dollar – and, in turn, knocked the Aussie dollar down. He also explains to Phil Dobbie what else is driving the US dollar higher. And they look ahead to a plethora of data available over the next 24 hours.

Thursday 27th September 2018

No surprise that the FOMC lifted interest rates in the US this morning, with the expectation of another hike in December. Phil Dobbie asks NAB’s Rodrigo Catril what we can take out from the FOMC’s statement. They also look ahead to RBNZ’s rate decision this morning, where a move is, of course, highly unlikely. And why is the Aussie dollar one of the best performers amongst major currencies overnight?

Thursday 27th September 2018

No surprise that the FOMC lifted interest rates in the US this morning, with the expectation of another hike in December. Phil Dobbie asks NAB’s Rodrigo Catril what we can take out from the FOMC’s statement. They also look ahead to RBNZ’s rate decision this morning, where a move is, of course, highly unlikely. And why is the Aussie dollar one of the best performers amongst major currencies overnight?

Wednesday 26th September 2018

The markets are quiet ahead of tomorrow morning’s FOMC meeting. Phil Dobbie asks NAB's Ray Attrill why the anticipation when we know what’s going to happen. Meanwhile, there seems to be a further waiting game on Brexit and NAFTA. The ECB seems to be attempting to reverse the hawkish tone set yesterday. And the US reported the best consumer confidence numbers in 18 years – we can’t expect the same from New Zealand business confidence today, but how influential could even a small move be?

Wednesday 26th September 2018

The markets are quiet ahead of tomorrow morning’s FOMC meeting. Phil Dobbie asks NAB's Ray Attrill why the anticipation when we know what’s going to happen. Meanwhile, there seems to be a further waiting game on Brexit and NAFTA. The ECB seems to be attempting to reverse the hawkish tone set yesterday. And the US reported the best consumer confidence numbers in 18 years – we can’t expect the same from New Zealand business confidence today, but how influential could even a small move be?

Tuesday 25th September 2018

As trade tariffs between the US and Cghina kicked in yesterday there wasn’t a huge market reaction. As NAB’s Tapas Strickland explains, there was a stronger reaction to ECB’s Mario Daghi using the word ‘vigorous’ when describing the pickup in inflation. He also discusses with Phil Dobbie how the Europeans have provided some hope for Brexit, which strengthened the pound, even if the whole process gets more confusing by the day. And oil reached a multiyear high – they discuss why.

Tuesday 25th September 2018

As trade tariffs between the US and Cghina kicked in yesterday there wasn’t a huge market reaction. As NAB’s Tapas Strickland explains, there was a stronger reaction to ECB’s Mario Daghi using the word ‘vigorous’ when describing the pickup in inflation. He also discusses with Phil Dobbie how the Europeans have provided some hope for Brexit, which strengthened the pound, even if the whole process gets more confusing by the day. And oil reached a multiyear high – they discuss why.

Monday 24th September 2018

The pound took a hit on Friday as Brexit talks seem to have derailed. Phil Dobbie asks NAB’s Ray Attrill whether we can expect it to sink further this week, and what that could mean for the Aussie dollar, which also fell slightly at the end of last week. Over the weekend China pulled out of talks on tariffs with the US – can we expect any market reaction from that news this morning? Plus, a look ahead to the FOMC meeting this week.

Monday 24th September 2018

The pound took a hit on Friday as Brexit talks seem to have derailed. Phil Dobbie asks NAB’s Ray Attrill whether we can expect it to sink further this week, and what that could mean for the Aussie dollar, which also fell slightly at the end of last week. Over the weekend China pulled out of talks on tariffs with the US – can we expect any market reaction from that news this morning? Plus, a look ahead to the FOMC meeting this week.

Friday 21st September 2018

The US dollar is down this morning even though equities are at record highs. Phil Dobbie asks Gavin Friend why the dollar is sliding when the economy appears strong and the tariff-led risk sentiment has subsided? Similarly, why are Sterling and the Euro up so much when the Salzburg Brexit talks went nowhere. Plus, does the higher than expected GDP read show that the New Zealand economy is doing better than we thought – time to put aside any talk of a rate cut?