Oil surges on Biden’s unanswered question
Oil has risen sharply. NAB’s Taylor Nugent says it is based on something Joe Biden didn’t necessarily say. Meanwhile non-farm payrolls is the big news today.
NAB Morning Call · NAB - The Morning Call
Audio is streamed directly from the publisher (sphinx.acast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Friday 4th October 2024
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
Oil has risen sharply this morning after Joe Biden was asked about is support for an Israeli attack, if it was to target Iran’s oil facilities. NAB’s Taylor Nugent says the US President didn’t really answer the question, but it was enough for investors to fear that this was a scenario that could play out. Elsewhere, markets responded to an unexpected jump in the US services ISM, and surprisingly dovish remarks from the BoE governor that’s heightened expectations for more immediate cuts from the Bank of England Without doubt, though, the most significant news is yet to come - the latest US payrolls data, which could reinforce or deflect market expectations for another 50bp cut at an FOMC meeting before Christmas.
Hosted on Acast. See acast.com/privacy for more information.