NAB Morning Call

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.

Whilst inflation data from the US came in as expected, European figures disappointed a little. As Phil Dobbie discusses with NAB’s Rodrigo Catril, is this another case of rising employment without an inflationary lift? At the risk of being tedious they also touch briefly on the US tax bill, which is making headway, and the Brexit talks, where the Irish border question might have an answer. Or not. And there’s lots of manufacturing data out today to get your teeth into – they run through the main points.

Whilst inflation data from the US came in as expected, European figures disappointed a little. As Phil Dobbie discusses with NAB’s Rodrigo Catril, is this another case of rising employment without an inflationary lift? At the risk of being tedious they also touch briefly on the US tax bill, which is making headway, and the Brexit talks, where the Irish border question might have an answer. Or not. And there’s lots of manufacturing data out today to get your teeth into – they run through the main points.

Thursday 30th November 2017

The pound has been helped by hopes that trade talks on Brexit will start next month and global bond yields are a lot higher. As NAB’s Rodrigo Catril explains, the rise in yields appears to have been triggered by higher than expected German inflation. The USD is also enjoying positive news, with a strong GDP reading and more data out tonight. Meanwhile the share market seems to be rearranging itself in readiness for news on President Trump’s much heralded tax bill. Plus what to expect from Australia’s capex reading today.

Thursday 30th November 2017

The pound has been helped by hopes that trade talks on Brexit will start next month and global bond yields are a lot higher. As NAB’s Rodrigo Catril explains, the rise in yields appears to have been triggered by higher than expected German inflation. The USD is also enjoying positive news, with a strong GDP reading and more data out tonight. Meanwhile the share market seems to be rearranging itself in readiness for news on President Trump’s much heralded tax bill. Plus what to expect from Australia’s capex reading today.

Wednesday 29th November 2017

The pound was drifting downwards overnight until sudden reports suggested an agreement had been reached on the size of the UK Brexit divorce bill. As Phil Dobbie discusses with NAB’s Gavin Friend, if it means trade talks can commence next month, then it’s the most positive Brexit news of the year so far. Meanwhile the US dollar has been helped by a mix of positive data and a conciliatory tone set by Fed chair in waiting Jay Powell, who fronted up to his senate confirmation hearing overnight. We talk about what he had to say with NAB’s Rodrigo Catril.

Tuesday 28th November 2017

Cyber Monday was a big success, particularly for Amazon, but the US dollar has remained relatively flat. Phil Dobbie talks to NAB’s Ray Attrill about progress on the tax bill, what we’ll glean from the round of Fed speakers today and the surprise rise in the New Zealand dollar overnight. Plus the fall in oil and a question on whether a fall in Chinese stocks could spread caution to Australia.

Monday 27th November 2017,

Europe, in particular Germany, is doing well. Yes we know that. But the good news keeps coming, as Phil Dobbie discusses with NAB’s Ray Attrill. Meanwhile the Aussie dollar seems to be struggling alongside the US dollar, despite the rise in commodities. Oil is at a two year high and iron ore rose 8.5 percent last week. Does that mean there’s some latent demand for the Aussie?