NAB – The Morning Call · Europe’s caution, China’s hope

Europe’s caution, China’s hope

Tuesday 16th November 2021

The Euro has lost ground this morning, with concerns over COVID, following lockdowns in Holland and Austria, and rising cases in Germany. There remains a very different attitude between the ECB and the Fed, with Christine Lagarde reiterating that in Europe they are in no rush to tighten policy. China’s activity data provided hope that the country’s economy was stabilising. In the US there will be a lot of focus to see whether tonight’s retail numbers are strong, or will they have been pulled down with falling consumer sentiment. The UK’s employment numbers will be watched keenly by the Bank of England, but NAB’s Rodrigo Catril says it’s too soon to provide the full future needed to determine rate rises. And President Xi and President Biden meet (virtually) shortly – the start of better relations, perhaps?

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