There’s an expectation that a Brexit deal will be presented to the May cabinet today (tonight Australia time), but the PM’s office has said that should be taken with a bucket of salt. In today’s podcast Phil Dobbie asks NAB’s Tapas Strickland, based in London, how low the pound could sink given the rising uncertainty, with just 137 days until Britain leaves the EU. They also discuss Europe’s other problem child – with Italy re-presenting its budget and differences still looming. Tech stocks in the US have been hit by reports that the Trump administration is set to extend its trade battle with China beyond tariffs, to counter the theft of intellectual property.
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Trade battles on many fronts drives further uncertainty
President Trump pushes tariff threats to new frontiers. I talk to NAB’s Rodrigo Catril about the market response.
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Will China pick a side?
Oil has fallen sharply. NAB’s Tapas Strickland says lockdowns in China have reduced demand. Meanwhile, the US and China are meeting – will China sit on the fence or help broker peace?
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US dollar weaker on Hong Kong, UK and Italy’s positive news
A weaker US dollar today – why? NAB’s Tapas Strickland points to three strengths elsewhere – formation of the Italian government, easing unrest in Hong Kong and the avoidance of a no-deal Brexit, for now.
