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.

Fed still trying to show they won’t give in

The Fed is still concerned that the market is pricing in rate cut next year, says NAB’s Ken Crompton. And a big fall in the Euro as gas prices reach a record high.

UK’s sticker shock inflation drives caution

A cautious mood today. NAB’s David de Garis says the sticker shock of the UK’s double digit inflation kicked it all off.

Retail, wages and RBNZ

Don’t expect a big increase in Australian wages today says NAB’s Rodrigo Catril in today’s podcast. That will come later in the year. Meanwhile the RBNZ continues to push hard on rate rises., with another 50 basis points expected today.

Slow boat from China

The Aussie dollar has fallen sharply on weak Chinese data. Oil has also fallen markedly, with NAB’s Ray Attrill says that’s a combination of the China data and hopes of an Iran nuclear deal that would add more oil to global supplies.

A positive outlook, apart from the downturn

Equity markets pushed higher in the US on Friday. NAB’s Tapas Strickland says strong corporate earnings have helped, and a belief that the Fed will not be moving much further on rate hikes – even though Fed speakers are keen to suggest otherwise.

Not convinced by the Fed

Markets are still responding to the weaker CPI read this week and don’t seem to believe the Fed when it says there’s still work to do. But NAB’s David de Garis says oil is the real inflationary concern as the northern winter approaches.

False hope on easing inflation?

Markets have responded favourably to a better-than-expected headline CPI read in the US, but NAB’s Tapas Strickland says there’s no clear sign that the core figure is falling yet. It’s too early to call a peak on inflation.

Inflation Day

US CPI numbers are out later today. NAB’s Rodrigo Catril says the Fed will be focused on the core numbers, the factors that they can try and control. Plus, why did Australia see a positive outlook in the NAB Business Survey, but falling consumer sentiment.

Markets in limbo

Markets are a bit in limbo today. NAB’s Skye Masters says there has been some consolidation after the initial response to the payrolls data on Friday, but basically everyone is hanging out for the US CPI numbers tomorrow.

US jobs market too hot for the Fed?

US payrolls numbers were way higher than expected, with wages also increasing. On today’s podcast NAB’s Ray Attrill is asked if this means we can expect about 75 basis point hike from the Fed at their next meeting.

Scroll to top