German manufacturing worst in 10 years; will Lowe signal RBA rate cut

RBA Governor Philip Lowe is talking in Armidale later today. NAB’s Tapas Strickland tells Phil Dobbie that he could use the opportunity to signal that another rate cut from the central bank is imminent. They also discuss the performance of the NZ dollar which has had a turbulent couple of weeks. Meanwhile, further evidence of the US EU divide, with Markit PMIs showing strength in US manufacturing, whilst in Germany the fall has been worse than anticipated. Mario Draghi is looking for answers, whilst Michel Barnier is having difficulty seeing how a Brexit deal can be reached.  For now, the pound hasn’t taken that news as badly as it might.

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