NAB Morning Call

Friday 8th December 2017

There’s progress in the US on the reconciliation of the two tax bills but, as Phil Dobbie discusses with NAB’s Ray Attrill, the extent of the corporate tax cut could be the major casualty. Meanwhile, the Aussie dollar took a hit with the smaller than expected trade surplus yesterday, and with China’s trade figures due today there’s a chance for another battering. Meanwhile Theresa May has till Sunday now to come up with an answer to the Irish border question. Good luck with that.

Friday 8th December 2017

There’s progress in the US on the reconciliation of the two tax bills but, as Phil Dobbie discusses with NAB’s Ray Attrill, the extent of the corporate tax cut could be the major casualty. Meanwhile, the Aussie dollar took a hit with the smaller than expected trade surplus yesterday, and with China’s trade figures due today there’s a chance for another battering. Meanwhile Theresa May has till Sunday now to come up with an answer to the Irish border question. Good luck with that.

Thursday 7th December 2017

The Aussie dollar headed south since yesterday’s GDP figures. Phil Dobbie asks NAB’s David de Garis if the response was consistent with such a small shortfall of the expected number and whether it will have any impact on the schedule of rate rises next year. They also look ahead to today’s trade figures, why the Canadian dollar fell despite no change in interest rates from the Bank of Canada, ADP employment figures from the US and the current state of Brexit.

Thursday 7th December 2017

The Aussie dollar headed south since yesterday’s GDP figures. Phil Dobbie asks NAB’s David de Garis if the response was consistent with such a small shortfall of the expected number and whether it will have any impact on the schedule of rate rises next year. They also look ahead to today’s trade figures, why the Canadian dollar fell despite no change in interest rates from the Bank of Canada, ADP employment figures from the US and the current state of Brexit.

On both sides of the Atlantic frantic negotiation is taking place. The Brits are trying to resolve the Brexit border standoff, whilst in the US they’re trying to combine two tax bills into one. As Phil Dobbie discusses with NAB’s Rodrigo Catril, it has meant a relatively quiet overnight session, despite a reasonably rich flurry of data. The Aussie dollar, meanwhile, has climbed, thanks to yesterday’s retail numbers, but fell on a slump in metal. And there's expectations of a strong GDP figure today.

On both sides of the Atlantic frantic negotiation is taking place. The Brits are trying to resolve the Brexit border standoff, whilst in the US they’re trying to combine two tax bills into one. As Phil Dobbie discusses with NAB’s Rodrigo Catril, it has meant a relatively quiet overnight session, despite a reasonably rich flurry of data. The Aussie dollar, meanwhile, has climbed, thanks to yesterday’s retail numbers, but fell on a slump in metal. And there's expectations of a strong GDP figure today.

The UK Prime Minister is having an awkward time of it. As Phil Dobbie discusses with NAB’s David de Garis, she thought she had an answer to the Irish border question, but her coalition partners are having none of it. Also, the markets settle down on the expectation of the US tax bill, possibly passed before Christmas, and we await the latest retail figures from Australia, ironically on the day that Amazon is said to be launching, with free delivery on many orders. All that, plus the RBA cash rate announcement, and more signs on the direction of the US economy.

The UK Prime Minister is having an awkward time of it. As Phil Dobbie discusses with NAB’s David de Garis, she thought she had an answer to the Irish border question, but her coalition partners are having none of it. Also, the markets settle down on the expectation of the US tax bill, possibly passed before Christmas, and we await the latest retail figures from Australia, ironically on the day that Amazon is said to be launching, with free delivery on many orders. All that, plus the RBA cash rate announcement, and more signs on the direction of the US economy.

A lot happened on Friday and the repercussions of much of it will spill over into the markets this week. Phil Dobbie goes through them with NAB’s Ray Attrill, including the FBI investigation, the tax bill, Brexit D-day, OPEC and Canada. Plus, the fate of the Aussie and NZ dollars this week, after a surge on Friday.

A lot happened on Friday and the repercussions of much of it will spill over into the markets this week. Phil Dobbie goes through them with NAB’s Ray Attrill, including the FBI investigation, the tax bill, Brexit D-day, OPEC and Canada. Plus, the fate of the Aussie and NZ dollars this week, after a surge on Friday.