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President talks, but gives nothing away

It was widely anticipated that President Trump might give away some clues on the progress of trade talks with China today, when he gave an address to the Economic Club of New York. But, as Phil Dobbie discusses with NAB’s Rodrigo Catril, the President offered nothing new and the markets were unmoved. In fact, it’s been a quiet day across all asset classes. Th NFIB survey has shown investment hopes in the US small business sector, whilst the NAB Business Survey and European ZEW survey gave hope that the downturn might be close to bottoming out. Today the RBNZ makes its rate decision, and yesterday’s downgraded inflation expectations have raised the potential for a rate cut.

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