NAB’s Gavin Friend talks through a session that brought no good news from the US – worst GDP fall since WW2, rising continuing unemployment claims, and still no new fiscal package.
After today’s FOMC meeting, NAB’s David de Garis says the Fed has a big picture role for the US, but it’s fiscal policy that counts now. But where is it?
Markets are subdued because of apprehension over earnings results and further delays in the US fiscal stimulus package, says NAB’s Tapas Strickland.
The US dollar falls further whilst the Euro reaches a multi-year high. Phil Dobbie asks NAB’s Ray Attrill whether this is a long overdue correction.
NAB’s Rodrigo Catril says the US dollar is being hit on three fronts – Congress failing to reach an agreement on fiscal support, rising tensions with China and COIVD cases in California. At home, Victoria’s rising COVID cases could take the shine of the Aussie dollar today.
Phil Dobbie Follow
Host of The Morning Call, The Why? Curve & Debunking Economics. Mildly amusing. Shares birthday with Trump, Boy George & Che Guevara, few days older than Boris.
12 Morning Calls, 3 Debunking Economics and 3 Why Curves till Christmas.
Resilience in the labour market seems to be a persistent theme. NAB’s Taylor Nugent says we saw it in the US and Canada on Friday, with markets expecting a deepening recession risk as central banks push harder. https://shows.acast.com/morningcall/episodes/the-central-bank-dilemma-is-it-working