NAB Morning Call

Friday 7th September 2018

There’s a risk-off mood in the markets this morning, as Phil Dobbie discusses with NAB’s Ray Attrill. Central to that is the question on whether President Trump will move on imposing tariffs on an extra $200 billion worth of Chinese imports. What will that mean to the Aussie dollar? Add to that uncertainty the bear market in EM and the slide in technology stocks. Of less concern, but still significant, is tonight’s non-farm payrolls data for the US, which is expected to reinforce the decision to raise rates at the next FOMC meeting, a decision that will not be side-tracked by any inversion in the yield curve, according to the Fed’s John Williams.

Friday 7th September 2018

There’s a risk-off mood in the markets this morning, as Phil Dobbie discusses with NAB’s Ray Attrill. Central to that is the question on whether President Trump will move on imposing tariffs on an extra $200 billion worth of Chinese imports. What will that mean to the Aussie dollar? Add to that uncertainty the bear market in EM and the slide in technology stocks. Of less concern, but still significant, is tonight’s non-farm payrolls data for the US, which is expected to reinforce the decision to raise rates at the next FOMC meeting, a decision that will not be side-tracked by any inversion in the yield curve, according to the Fed’s John Williams.

Thursday 6th September 2018

Australian GDP figures were higher than expected yesterday. NAB’s Gavin Friend joins Phil Dobbie to discuss the reasons behind this upside surprise. The Aussie dollar was higher today despite continued woes in emerging markets, whilst the pound gained strength on positive hearsay on Brexit negotiations. Meanwhile tech stocks took a big hit, with a US congressional committee claiming the big players hinder competition, on top of President Trump’s claims they are biased against him. Plus, a lot of data out today that’s worth keeping an eye on.

Thursday 6th September 2018

Australian GDP figures were higher than expected yesterday. NAB’s Gavin Friend joins Phil Dobbie to discuss the reasons behind this upside surprise. The Aussie dollar was higher today despite continued woes in emerging markets, whilst the pound gained strength on positive hearsay on Brexit negotiations. Meanwhile tech stocks took a big hit, with a US congressional committee claiming the big players hinder competition, on top of President Trump’s claims they are biased against him. Plus, a lot of data out today that’s worth keeping an eye on.

Wednesday 5th September 2018

The Aussie and the Kiwi dollars have hit multi-year lows as the situation worsens in emerging markets, not helped by a sharp drop in the Rand as South Africa enters a recession. Phil Dobbie asks NAB’s David de Garis if things could get worse for the Aussie and Kiwi before they get better? Meanwhile the US economy seems to go from strength to strength, despite (or because of) the trade uncertainty. And Mark Carney spoke of Brexit today – was it another doomsday scenario from the central banker?

Wednesday 5th September 2018

The Aussie and the Kiwi dollars have hit multi-year lows as the situation worsens in emerging markets, not helped by a sharp drop in the Rand as South Africa enters a recession. Phil Dobbie asks NAB’s David de Garis if things could get worse for the Aussie and Kiwi before they get better? Meanwhile the US economy seems to go from strength to strength, despite (or because of) the trade uncertainty. And Mark Carney spoke of Brexit today – was it another doomsday scenario from the central banker?

Tuesday 4th September 2018

Monday was Columbus Day in the US, but quieter markets didn’t help the pound which fell on further UK-EU disagreement on Brexit and more speculation on a leadership challenge. Phil Dobbie talks to NAB’s Tapas Strickland about Brexit, the raft of Aussie data yesterday and today and the potential direction the RBNZ will take next – could rates actually go down? They also discuss the Italian budget and its impact on the Euro, today’s RBA meeting and why oil moved up today.

Tuesday 4th September 2018

Monday was Columbus Day in the US, but quieter markets didn’t help the pound which fell on further UK-EU disagreement on Brexit and more speculation on a leadership challenge. Phil Dobbie talks to NAB’s Tapas Strickland about Brexit, the raft of Aussie data yesterday and today and the potential direction the RBNZ will take next – could rates actually go down? They also discuss the Italian budget and its impact on the Euro, today’s RBA meeting and why oil moved up today.

Monday 3rd September 2018

Today Phil Dobbie asks NAB’s Rodrigo Catril whether the hopes are waning that President Trump will reach a trade deal with China before imposing tariffs on another $200bn worth of imports. They also look at Trump’s other trade disputes – with Europe, Canada and now, a threatened withdrawal from the World Trade Organisation. Whilst the weekend’s Brexit news show little progress and the weekend press reporting a potential leadership spill. The Aussie dollar fell with EM currencies last week, could a slew of Aussie data help it to tread its own course this week?

Monday 3rd September 2018

Today Phil Dobbie asks NAB’s Rodrigo Catril whether the hopes are waning that President Trump will reach a trade deal with China before imposing tariffs on another $200bn worth of imports. They also look at Trump’s other trade disputes – with Europe, Canada and now, a threatened withdrawal from the World Trade Organisation. Whilst the weekend’s Brexit news show little progress and the weekend press reporting a potential leadership spill. The Aussie dollar fell with EM currencies last week, could a slew of Aussie data help it to tread its own course this week?