Tuesday 2nd June 2020
The Australian dollar has climbed even higher this morning, reaching 68 US cents. NAB’s Ray Attrill discusses the factors that have come together to boost the currency. It’s not all down to weakness in the US dollar, but that’s part of it. Riots, the virus and China relations are playing on the US currency, even if equity traders continue to look beyond those inconveniences to focus on – as Phil Dobbie puts it – the “sunny uplands that await them”. There’s also discussion on what to expect from the RBA today and what GDP partials that will give a clearer picture of what Australian growth was in Q1. There’s a slim chance that the economy actually staved off a slight decline. Could we weather the COVID-19 storm without entering a technical recession? Doubtful, but imagine!