NAB – The Morning Call · Strong US data with no room for chicken lickens

Strong US data with no room for Chicken Lickens

Thursday 1st October 2020

No sell off in equities after that yelling match that was apparently a presidential election debate. In fact, equities have been helped by some strong data from the US and continued hope on a stimulus deal, although enthusiasm for that waned somewhat later in the session. Elsewhere, the Bank of England’s Andy Haldane criticised the Chicken Licken mentality. NAB’s Gavin Friend says it’s a curious comment given the sharp rise in COVID-19 cases in the UK. The pound has gained more as the UK potentially gave some ground in the Brexit negotiations, and the Aussie dollar was boosted by rising commodity prices and strong PMI numbers from China. The US manufacturing ISM and weekly jobless claims will be numbers to look out for tonight.

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