US re-acceleration possible but Aussie dollar weakness expected to continue.
One Fed speaker has warned that re-acceleration is possible because of strong consumer demand. But NAB’s Rodrigo Catril says that could also be the reason for a soft landing. Plus, a revision to NAB’s Aussie dollar forecast. Lower for longer.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Wednesday 23rd August 2023
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The Fed’s Thomas Barkin has warned that strong consumer data from the US lately could mean a reacceleration in inflation is possible although, as NAB’s Rodrigo Catril points out, he also suggested that if inflation does come down then America is likely to see a soft landing. Inflation could rise in Europe for a different reason, if we see a reemergence in rising gas prices. If the temporary peak we are seeing now becomes sustained. A rapid recovery in China looks less likely by the day, but they at least have a plan, for a tech driven future where, supposedly, most of the existing growth is coming from. Still, that’ll take time – part of the reason NAB has revised it’s forecasts for the Aussie dollar. We talk through the revisions on today’s podcast.
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