Weekend Edition: Super investments and the Aussie dollar
Friday 14th November 2025Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.NAB’s biennial Super Insights Survey was published this week, co-authored by Morning Call regulars Ray Attrill and Rodrigo Catril. They join Phil on this week’s podcast to talk about it, alongside Mike Symonds, the director of NAB’s Currency Overlay Solutions Group.One key takeout of the survey is that Australian super funds now invest more overseas than they do domestically and that ratio will increase over time. On the podcast we look at where that money is going, and the impact President Trump’s agenda has had. What are the key thematics that are influencing investment decisions? How much are funds hedging back to the Australian dollar, and how do they manage liquidity in these turbulent times? Hosted on Acast. See acast.com/privacy for more information.
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30:23
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30:23
Too much is not enough
Thursday 20th November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABWhat do equity markets want? NVIDIA yesterday delivered strong earnings and talked up the opportunity. ‘We’ve entered the virtuous cycle of AI’, their CEO said yesterday. After some initial enthusiasm, US shares fell today, including a 1.5% drop in NVIDIA’s price. NAB’s Ken Crompton joins Phil to talk through the caution in equities as well as deciphering a mix of jobs data, including the not-so-monthly on-farm payrolls, and a dump of weekly jobless claims. However you decipher those numbers it seems markets are increasingly expecting no move form the Fed in December. Today is PMIs day - a chance to see the comparative strengths of the US, Europe and UK. Hosted on Acast. See acast.com/privacy for more information.
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16:24
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16:24
Too early, too late and too much
Thursday 20th November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NAB Nothing seems to be quite hitting the spot. Our podcast is too early today to bring you the NVIDIA earnings results, which have left equities in no man’s land this week. We did get a chance to glimpse the latest Fed minutes before we hit the stop button though.The other news this morning is that the November non-farm payrolls number will be delayed, meaning there will be no other report beyond September’s delayed release tonight, ahead of the December meeting. The data is just too late, and the Fed continues to fly blind. And oil prices have fallen over fears there’s too much oil. A resolution to the Russia Ukraine conflict, which is again making headlines, could add to that downward pressure. NAB’s Gavin Friend in London joins Phil to talk through all of this, plus UK inflation and Australian wages data. Hosted on Acast. See acast.com/privacy for more information.
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17:07
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17:07
Nervous
Wednesday 19th November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABMarkets are nervous ahead of NVIDIA earnings around this time tomorrow. The only real moves have been in equities. NAB’s Ray Attrill says, for once, the Aussie dollar hasn’t felt the brunt of the risk-off sentiment. We’ve also been seeing the first splattering of jobs data. The non-farm payrolls data tomorrow will be for September. ADP’s numbers for September were up, but overnight we saw their weekly numbers showing weekly falls through October. Weekly jobless claims were quietly added to a Bureau of Labour research database showing recent claims had not moved significantly since before the shutdown.The RBA minutes yesterday reaffirmed concerns over capacity constraints, with the wage price index released today along with UK CPI numbers. Hosted on Acast. See acast.com/privacy for more information.
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14:49
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14:49
Waiting for the numbers
Tuesday 18th November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThere have been no major market moves overnight as investors wait for the non-farm payrolls data on Thursday and NVIDIA earnings middle of the week. NAB’s Rodrigo Catril joins Phil to talk about how the potential reaction to each, as well as today’s fall in the Yen after Japan’s soft GDP read. Plus, Canada’s CPI, the better-than-expected NY Fed’s Empire State manufacturing index and an upgrade to the EU’s growth forecasts. It’s another relatively quiet session ahead before the big numbers start trickling in. Hosted on Acast. See acast.com/privacy for more information.
Start your day with the NAB Morning Call for the latest overnight key economic and market information straight from our team of expert market economists and strategists. This includes perspective on overnight news and market price action and the forces shaping movements in Australian and global markets in the days ahead. Hosted on Acast. See acast.com/privacy for more information.
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