Early optimism
The year has started with a relatively positive outlook – with the Aussie dollar one of the main beneficiaries - but NAB’s Ray Attrill says a lot rests on this week's US CPI number.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 11th January 2022
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The year has started on a fairly optimistic tone, with US bond yields falling on expectations that the Fed might have to do less, leading to a fall in the US dollar. As NAB’s Ray Attrill explains, the major beneficiary of all this has been the Aussie dollar, up 1.3% so far this year. Hopes of more growth from China, with the zero COVID policy abandoned and the population moving quickly to herd immunity. But global optimism should be tempered with a reality check – COVID is still a concern and the war rages on in Ukraine. The ultimate reality check will be US CPI later this week? Has it peaked and, if so, how much has it fallen by?
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