With nothing concrete to go on, markets continue to factor-in optimism over the US-China trade talks. NAB’s David de Garis talks through the reaction to reports that the US might actually wind-back on some of it’s earlier tariffs although, as he is keen to point out, the one man we haven’t heard from on this is the President himself. Favourable non-manufacturing ISM’s provided further encouraging news from the US, whilst the Aussie dollar lost some of the ground it gained after the RBA’s Philip Lowe spoke of a gentle turning point in the economy.
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Swift turnaround as markets rethink FOMC response
Last week’s post FOMC sell-off was overdone, says NAB’s Tapas Strickland on today’s Morning Call podcast, evidenced by a big reversal overnight. Although markets remain jittery.
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Currency Wars
The floating of currencies has created a massive forex industry. Steve Keen says it has made life harder for speculators, which is a good thing, but the world missed a trick when it igmnored Keyne’s idea of the Bancor.
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New month, new tariffs, new uncertainty
New US tariffs on Chinese imports kicked in over the weekend. NAB’s Rodrigo Catril anticipates the market reaction, whilst consumer sentiment I the US records a big drop.
