NAB – The Morning Call · Easing off the peddle, Aussie takes a hit

Easing off the pedal, Aussie takes a hit

Wednesday 10th June 2020

The rally in equities has stalled for now – except for the NASDAQ. Phil Dobbie asks NAB’s Tapass Strickland whether caution is growing or just a bit of short-term profiteering. The cautionary air could relate to concerns about a second wave of infections. In Australia there are more grounds for optimism, but the Aussie dollar is weaker, even though the Treasury has revised down peak unemployment, from 10% to 8%. No new virus cases add to Australia’s good news, although China’s warning for students to stay away offsets some of that positivity. Tomorrow morning all eyes will be on the Fed, with the FOMC meeting wrapping up with a press conference just ahead of tomorrow’s Morning Call podcast.  

One comment on “Easing off the pedal, Aussie takes a hit

  1. Kerri Slaven says:

    Phil, your podcasts are fabulous. But can you please examine the increasing problem for Australia with China? I already know that the US is taking over our agricultural exports; the Phase One of the trade deal with China was set up clearly with the ousting of Australia’s agricultural exports intended. China had no trouble picking a fight with us, and the rest of our agricultural exports will follow the problem our barley and beef now faces. China can’t afford to import from the US and other nations; we are going to be struck off. Phase Two will see more of same, no doubt to our energy and resources. I know that Scott Morrison is worried about this; why can I not find more focus on it in the media? This is very serious. Western Australia will be particularly hard hit, with its mining industry decimated. Our future economy is at great risk. Why is this issue being overlooked? I am taking whatever defensive action I can now, because the outcome is obvious. Please examine this more! What happens in Europe is not nearly so important to us.

Leave a Reply

Your email address will not be published. Required fields are marked *

Scroll to top