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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Wireless and Ruddless
This week we look at how the National Broadband Network (NBN) connection in your home will work — and look at the impact the Labor leadership challenge could have on plans for the new network.
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Business activity falls, but not enough to slow the Fed
The latest PMIs show more of a slowdown in the US than Europe or the UK, says NAB’s Ray Attrill, but probably not enough to change the uber-hawkishness expected to emanate from Jackson Hole at the end of the week.
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Inflation (almost) everywhere
Rising yields in Germany and the UK show the inflation story is not just a US dynamic, says NAB’s Gavin Friend. It’s everywhere.
