The Morning Call

Start your day with the Morning Call for the latest overnight key economic and market information straight from NAB’s team of expert market economists and strategists.

Cautious for no clear reason

There’s more caution in the markets today, even though numbers out of Australia, the US and China were better than expected. There’s a bit of battle fatigue hitting the market says NAB’s David de Garis.

More inflation, RBNZ moves first

More inflation signals with the RBNZ moving towards rate rises. NAB’s Gavin Friend says there are no signs that other central banks will be following in a hurry.

Another US inflation surprise. Still transitory?

US inflation has surprised again, up even higher than last month. But NAB’s Tapas Strickland says the indications are that it’s still transitory.

Stocks high on earning hopes; times changing for ECB

NAB’s Rodrigo Catril says markets are positioning themselves for positive outcomes from the US Q2 earnings season that kicks off today. Christine Lagarde’s news on the continuance of PEPP has had less influence. Today’s US CPI numbers could have more of an impact.

Delta’s day off

A swift turnaround in market sentiment on Friday. NAB’s Ray Attrill provides some of the reasons.

Fed minutes trumped by ECB strategy review

The FOMC minutes did little for cautious markets. NAB’s Gavin Friend says the outcome of the ECB’s Strategic Review should hold more interest.

Markets cautious on numerous fronts; RBA focuses on data not dates

The RBA is focused on data not dates, says NAB’s Rodrigo Catril in today’s Morning Call. It’s data from the US and Germany that’s added caution to the markets overnight, along with rising concerns about China.

Freedom Day for the UK, D-Day for the RBA

What follows the QE2 in September? NAB’s Ray Attrill says a flexible target is likely, but we can expect a ripple of surprises form the RBA today.

Payrolls just the job for Goldilocks

The Fed will not see the need to act swiftly after Friday’s payrolls numbers, but it will be a different story for thew RBA tomorrow. NAB’s Tapas Strickland says, given the improvements in the Australian economy, the need to run QE at $100 billion every six months is not there anymore.

The last day of treading water

Despite lots of data for markets to chew over, they are looking for a directional lead from non-farm payrolls, says NAB’s Gavin Friend. Whether they’ll get it or not is the question.

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