NAB Morning Call

It looks like Australia will be exempt from US steel tariffs. Phil Dobbie asks NAB’s Ray Attrill about the impact on the Aussie dollar and whether it would have any material impact on our economy. They also look at the surprising impact of Friday’s non-farm payrolls data in the US, which showed a jump in employment but a fall in wage growth. And what of the Trump Kin Jong Un meeting, if it ever happens?

It looks like Australia will be exempt from US steel tariffs. Phil Dobbie asks NAB’s Ray Attrill about the impact on the Aussie dollar and whether it would have any material impact on our economy. They also look at the surprising impact of Friday’s non-farm payrolls data in the US, which showed a jump in employment but a fall in wage growth. And what of the Trump Kin Jong Un meeting, if it ever happens?

Friday 9th March 2018

As we record this morning’s podcast President Trump is about to meet at the White Hosue to discuss trade tariffs. As Phil Dobbie discusses with NAB’s Ray Attrill, we know Canada and Mexico have been excluded from the new measures, but there’s a chance Australia might also be given preferential treatment. They also discuss the latest ECB meeting in which Mario Draghi removed the pledge to increase its asset buying program, but gave nothing away about when it might end altogether. Plus, the all-important non-farm payrolls data tonight, where all eyes will be looking for signs of wage growth.

Friday 9th March 2018

As we record this morning’s podcast President Trump is about to meet at the White Hosue to discuss trade tariffs. As Phil Dobbie discusses with NAB’s Ray Attrill, we know Canada and Mexico have been excluded from the new measures, but there’s a chance Australia might also be given preferential treatment. They also discuss the latest ECB meeting in which Mario Draghi removed the pledge to increase its asset buying program, but gave nothing away about when it might end altogether. Plus, the all-important non-farm payrolls data tonight, where all eyes will be looking for signs of wage growth.

The resignation of the US President’s economic advisor Gary Cohn hit US equities overnight. As Phil Dobbie discusses with NAB’s Rodrigo Catril, there are reports that Trump will extend tariffs further against China in retaliation for intellectual property theft. So how concerned should we be about a trade war? And to add fuel to the fire, China, Japan and Australia release balance of trade figures today. Plus, how likely is a soft Brexit? The latest response from the EU seems to suggest a free trade agreement is the only outcome. Will all the Brexit and tariff talk have any influence on the ECB’s QE timetable – will the Bank actually commit to one tonight?

The resignation of the US President’s economic advisor Gary Cohn hit US equities overnight. As Phil Dobbie discusses with NAB’s Rodrigo Catril, there are reports that Trump will extend tariffs further against China in retaliation for intellectual property theft. So how concerned should we be about a trade war? And to add fuel to the fire, China, Japan and Australia release balance of trade figures today. Plus, how likely is a soft Brexit? The latest response from the EU seems to suggest a free trade agreement is the only outcome. Will all the Brexit and tariff talk have any influence on the ECB’s QE timetable – will the Bank actually commit to one tonight?

Even though the US dollar and equities slid today, there’s optimism that President Trump will see sense and reverse his plans to kick start a trade war, or at least be more specific about which countries he targets. Phil Dobbie discusses the shifting scene with NAB’s Gavin Friend in London. They also look at the day’s second big back down – could North Korea go as far as removing its nuclear weapons after peace talks with the south? They also look ahead to today’s GDP figures for Australia and what to expect when the Fed’s Lael Brainard speaks this morning.

Even though the US dollar and equities slid today, there’s optimism that President Trump will see sense and reverse his plans to kick start a trade war, or at least be more specific about which countries he targets. Phil Dobbie discusses the shifting scene with NAB’s Gavin Friend in London. They also look at the day’s second big back down – could North Korea go as far as removing its nuclear weapons after peace talks with the south? They also look ahead to today’s GDP figures for Australia and what to expect when the Fed’s Lael Brainard speaks this morning.

6th March 2018

There’s been a mixed reaction to President Trump’s continued insistence on steel tariffs today, as Phil Dobbie discusses with NAB’s Tapas Strickland. On the one side equities are on the rise, with traders assuming some sort of compromise will be reached. On the other side, the Canadian dollar has taken a hit with continued fears that tariffs will impact NAFTA. To lighten the mood, President Trump did a standup routine at a journo’s dinner overnight. He says he was very good. They also discuss a slug of Aussie data, the RBA rate decision today, Brexit (of course), US ISM figures and the meeting of the People’s Congress in China.

6th March 2018

There’s been a mixed reaction to President Trump’s continued insistence on steel tariffs today, as Phil Dobbie discusses with NAB’s Tapas Strickland. On the one side equities are on the rise, with traders assuming some sort of compromise will be reached. On the other side, the Canadian dollar has taken a hit with continued fears that tariffs will impact NAFTA. To lighten the mood, President Trump did a standup routine at a journo’s dinner overnight. He says he was very good. They also discuss a slug of Aussie data, the RBA rate decision today, Brexit (of course), US ISM figures and the meeting of the People’s Congress in China.