Tuesday 14th July 2020

Equities in the US spent most of the session rising, driven by the news that Pfizer and BioNTech’s experimental vaccine was being fast tracked in the US. But then, as NAB’s Rodrigo Catril explains on today’s podcast, Mike Pompeo declared China’s expansive claims in the South China Sea as unlawful, a shift in the direction of the US rhetoric against the regime. It’s an important day for Australian data today, with the NAB Business Survey and the weekly payrolls data, as well as China’s trade data. There’s also discussion on European trade and the Brexit negotiations, with the pound taking quite a hit today.