Monday 19th January 2026

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Markets open the week a little snowblind, with investors unsure how to process President Donald Trump’s renewed interest in Greenland and the threat of tariffs on European countries that oppose the idea. NAB’s Sally Auld joins Phil to sift through the market reaction, alongside shifting expectations for the next Fed chair — with Kevin Hassett fading and Kevin Warsh now the frontrunner — plus a firmer US dollar, softer Aussie, weaker equities, rising bond yields and a yen that’s clawing back amid talk of possible intervention. China’s GDP and industrial production are due, so it Canada’s CPI, with the US closed for Martin Luther King Jr Day and the World Economic Forum kicking off in Davos.

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