Monday 18th July 2022
US equities rallied on Friday as data releases showed some resilience in the economy, but is it enough to stave off recession? Probably not, says NAB’s Tapas Strickland on today’s podcast, but it will be enough to put to bed any ideas of a 100-basis point rate rise by the Fed this month. Also today, China’s fall in GDP was worse than expected, with continuing lockdowns making the official forecast for the year completely out of reach. The focus this week will be on Europe: what if the Nordstream pipeline doesn’t reopen? And, with so much uncertainty, NAB is predicting the US dollar will remain stronger for longer, which is likely to keep the Aussie dollar below 70 US cents for some time to come. Hear more about that in today’s podcast too.
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US equities head for highs as UK economy crumbles and Aussie wages slow
One fifth sliced off the UK economy, whilst US equities reach new highs. NAB’s Ray Attrill on a tale of two nations.
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Brexit fears, more Trump tariffs and Powell close to neutral
Jerome Powell changes his stance, Mark Carney paints the disaster scenario and President Trump threatens car tariffs. NAB’s Rodrigo Catril talks through what’s driving the markets on The Morning Call podcast.
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US stocks flying high on hope
China US talks ahead of schedule. NAB’s Rodrigo Catril on how this has helped US stocks reach record highs.
