NAB Morning Call

Friday December 15th 2017

The Euro took a hit overnight as Mario Draghi suggested an “ample degree of stimulus was needed", even as the central bank upgraded its growth forecasts. As Phil Dobbie discusses with NAB’s Rodrigo Catril, it gets back to the elusiveness of inflation. The Fed was similarly dovish, forecasting just 3 rate rises  next year. We also look at the latest on the US tax deal, now expected to come together early next week, but Janet Yellen isn’t expecting it to be the miracle that President Trump is promising.

Friday December 15th 2017

The Euro took a hit overnight as Mario Draghi suggested an “ample degree of stimulus was needed", even as the central bank upgraded its growth forecasts. As Phil Dobbie discusses with NAB’s Rodrigo Catril, it gets back to the elusiveness of inflation. The Fed was similarly dovish, forecasting just 3 rate rises  next year. We also look at the latest on the US tax deal, now expected to come together early next week, but Janet Yellen isn’t expecting it to be the miracle that President Trump is promising.

Thursday 14th December 2017

The Federal Reserve has raised interest rates as expected, but will the slide in core inflation slow down the speed of future hikes? Phil Dobbie asks NAB’s David de Garis whether two hikes next year is now more likely than three. It sounds like a deal has been done on the Tax Bill, just in the nick of time as a surprise defeat in Alabama reduces Trump’s senate majority. Whilst Theresa May is set to face a revolt on her Brexit bill.

Thursday 14th December 2017

The Federal Reserve has raised interest rates as expected, but will the slide in core inflation slow down the speed of future hikes? Phil Dobbie asks NAB’s David de Garis whether two hikes next year is now more likely than three. It sounds like a deal has been done on the Tax Bill, just in the nick of time as a surprise defeat in Alabama reduces Trump’s senate majority. Whilst Theresa May is set to face a revolt on her Brexit bill.

Wednesday 13th December 2017

Things are hotting up in the final furlong before Christmas. The Bank of England has been confronted with rising inflation, whilst the UK might face a longer wait before it can start trade talks with the EU. The Aussie dollar has risen on the news that Westfield is about to be sold to a European company. In the US the proposed final tax bill is now expected on Friday, with an FOMC meeting before that. And the people of Alabama will decide today whether or not the Republicans narrow their slim majority Senate.

Wednesday 13th December 2017

Things are hotting up in the final furlong before Christmas. The Bank of England has been confronted with rising inflation, whilst the UK might face a longer wait before it can start trade talks with the EU. The Aussie dollar has risen on the news that Westfield is about to be sold to a European company. In the US the proposed final tax bill is now expected on Friday, with an FOMC meeting before that. And the people of Alabama will decide today whether or not the Republicans narrow their slim majority Senate.

Tuesday December 12th 2017

The markets reacted briefly to the shocking news of a terror attack in Times Square, but casualties were minimal and the reaction was short-lived. SSo, what has been influencing the markets? As NAB’s David de Garis discusses with Phil Dobbie, it’s a mix of central bank speculation, a reality-check on the Brexit deal and a rise in oil prices. Plus a new Governor for the RBNZ – Adrian Orr was clearly a popular choice with investors. They also discuss the NAB Business Survey out today.

Tuesday December 12th 2017

The markets reacted briefly to the shocking news of a terror attack in Times Square, but casualties were minimal and the reaction was short-lived. SSo, what has been influencing the markets? As NAB’s David de Garis discusses with Phil Dobbie, it’s a mix of central bank speculation, a reality-check on the Brexit deal and a rise in oil prices. Plus a new Governor for the RBNZ – Adrian Orr was clearly a popular choice with investors. They also discuss the NAB Business Survey out today.

Monday 11th December 2017

Despite the positive deal struck with the EU, the pound fell on Friday. Phil Dobbie talks to NAB’s Rodrigo Catril about this, and the non-farm payrolls data from the US, that posted positive news on job numbers but disappointed on wage growth, again. So, where will the markets head this week, on the back of Friday’s news, with an FOMC meeting that will announce a rate hike this week and give an idea of how many to expect next year. There’s also the possibility that the Trump administration manage to pull together their tax bill. And, where will the Aussie dollar head, now its down around 75 US cents?

Monday 11th December 2017

Despite the positive deal struck with the EU, the pound fell on Friday. Phil Dobbie talks to NAB’s Rodrigo Catril about this, and the non-farm payrolls data from the US, that posted positive news on job numbers but disappointed on wage growth, again. So, where will the markets head this week, on the back of Friday’s news, with an FOMC meeting that will announce a rate hike this week and give an idea of how many to expect next year. There’s also the possibility that the Trump administration manage to pull together their tax bill. And, where will the Aussie dollar head, now its down around 75 US cents?