Thanksgiving week finished with a rapidly falling oil price and questions over the strength of growth in the US economy, seeing falls in equities. Phil Dobbie asks NAB’s Rodrigo Catril about what’s driving this uncertainty when, on the other hand, Black Friday sales are expected to break all records. They also discuss how one minor Brexit hurdle was passed and why it’s increasingly looking irrelevant. Plus, why the Aussie dollar took a shellacking last week and further signs of weakness in Europe.
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More caution on manufacturing undershoot
US ISM manufacturing numbers were a little less than expected, but NAB’s Rodrigo Catril says it was enough to add to the market’s sense of caution over fears the global recovery is slowing. China’s lower Caixin PMI didn’t help.
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Will the RBA play catch up?
The RBA might make up for the shortfall in RBA’s bond buying at the start of the week, says NAB’s Tapas Strickland on today’s Morning Call podcast. Powell says the US rise in yields was to do with strength of the recovery rather than inflation concerns.
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IMF warning central banks to act quickly on inflation
Markets are more attuned to the idea of a US rate rise next year, says NAB’s Ray Attrill, as the IMF warns central banks to act if inflation persists, which seems likely.
