Thursday 6th November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABEurope’s revised PMIs suggest a slow but steady recovery, while U.S. services data came in stronger than expected. There’s plenty to feel optimistic about — despite political turbulence. Donald Trump faces mounting challenges: New York has elected a young Muslim mayor in a historic shift, and the Supreme Court has begun reviewing his emergency tariff measures.Meanwhile, markets are in a buoyant mood. Equities are climbing, treasuries are selling off, and sentiment is turning risk-on. Hosted on Acast. See acast.com/privacy for more information.
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The race to stop inflation
Wednesday 5th November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThose who believed we were on the final furlong in the race to stop inflation, will have to think again. Central banks are concerned, and cuts are being pushed back. NAB’s Ray Attrill points to yesterday’s RBA statement that there are uncertainties about whether their policy is too restrictive. In other words, could this mean we’ve already reached the end of the easing cycle? The Bank of Canada’s Tiff Macklem said they weren’t looking to cut soon; the real question was how long they will hold rates for.Meanwhile, equities took a hit last night, not helped by the CEOs of Goldman Sachs and Morgan Stanley adding to concerns about debt fuelled growth by the Mag Seven. And the revision to European and US PMIs should be worth watching, because there were some sharp moves in the provisional data that might be washed out today. Hosted on Acast. See acast.com/privacy for more information.
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Housing hotter ahead of RBA forecasts
Tuesday 4th November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThe Australian housing sector is certainly picking up, with prices rising and a sharp increase in dwelling approvals last month, particularly for units. An interesting backdrop for today’s RBA meeting. NAB’s Sally Auld says house prices are not targeted by RBA policy, but the wealth effect does increase consumer spending, something which the central bank will be cognisant of. Does that mean the RBA’s next move could be up? That’s a question Phil puts to Sally and one that Michele Bullock is likely to face during the press conference this afternoon. We also look at the latest PMI and ISM manufacturing numbers for the US, showing the wide divide in the two-speed economy. Hosted on Acast. See acast.com/privacy for more information.
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Dribs and drabs
Monday 3rd November 2025NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABMarkets didn’t have a lot to respond to on Friday, with no big data releases and no major surprises in what reports there were. Earnings probably had the biggest influence at the end of the week, with Amazon reporting 20% growth in AWS, providing further evidence of the growth in demand for cloud and AI services. NAB’s Taylor Nugent joins Phil to pick through the bones from the rest of Friday’s news, including Euro area inflation, Tokyo CPI, China PMIs, Canada’s GDP and another output increase from OPEC+. Plus, a look ahead to this week’s central banks, including the RBA, BoE,, Norges bank and Riksbank. Hosted on Acast. See acast.com/privacy for more information.
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Weekend Edition: The Tasman Divide
Friday 31st October 2025Please note this communication is not a research report and has not been prepared by NAB Research analysts. Read the full disclaimer here.There are clear differences between the Australian and New Zealand economies right now, and Phil explores them with BNZ’s Doug Steele and NAB’s Gareth Spence. Doug talks of New Zealand’s rolling recession, with three years of slow GDP per capita growth, weak domestic demand and rising unemployment. Gareth paints a rosier picture for Australia, where headline GDP has been driven by strong population growth which has helped to lift business confidence. But there are similarities - inflation risks, rising unemployment and no clear answer to stalled productivity. How much of the difference between the two economies can be blamed on the comparative approach by each central bank, and how much room do they have to manoeuvre if things turn south? 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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