Even though President Trump tweeted overnight that tariffs were having a “major effect” on the Chinese economy, the GDP numbers he referred to largely related to growth before tariffs were ramped up in May. What’s more, industrial production numbers were far better than anticipated. As NAB’s Rodrigo Catril explains to Phil Dobbie, this has helped the Aussie dollar become one of the best performing currencies overnight. Meanwhile, the NY Fed’s Empire survey showed a bounce back, offering some encouragement for the US economy, but a rate cut is still anticipated for the end of the month.
-
Brighter days ahead
As Australia emerges from the longest night, is the outlook brighter? NAB’s Taylor Nugent says this morning’s positive turn in risk sentiment doesn’t mean recession fears have gone away, it could just be covering of short positions from last week.
-
The Real Answer to the Affordable Housing Issue
The UK’s Chancellor of the Exchequer has a plan to make housing in the UK more affordable. Sadly, it won’t work.
-
Fed cuts as expected, but markets still react
The expected cut from the Fed but, as NAB’s Gavin Friend explains on today’s Morning Call podcast, Jerome Powell was a little too hawkish for the markets.
