NAB – The Morning Call · Strong earnings, cautious ECB and NZ’s first day without QE
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Strong earnings, cautious ECB and NZ’s first day without QE

Friday 23rd July 2021

Equities have been helped by earnings results and a little less COVID concern. On the macro front US jobless claims rose unexpectedly, but NAB’s Gavin Friend says a lot of it will be to do with seasonal adjustments related to the annual auto-tooling shutdowns. The ECB held its first meeting since it’s new straight 2 percent target, but little will change in the short term. The UK economy could be hit by track and trace ‘pings’ that are spreading like wildfire. Aussie payrolls numbers yesterday reflected the current shutdowns, which are likely to go on for much longer. Over the water New Zealand has its first day without QE – we look at the market response.

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