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Markets turn, just on weekly jobless numbers?
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Manage episode 433178177 series 1400104
Content provided by NAB - The Morning Call and Phil Dobbie. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by NAB - The Morning Call and Phil Dobbie or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Friday 9th August 2024
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
There was a sharp turnaround in US equities, with the S&P closing up 2.3%. It seems a lot of weight has been put behind the weekly jobless claims number, which is not normally a data point that would drive markets. But in this climate anything is possible. JBWere’s Sally Auld says it was probably an overreaction. Whilst some might see the week’s fall in claims as supporting an argument that the US is a long way from recession, others will point to the trend which shows claims are rising and the job market is weakening. In Australia the RBA’s Michelle Bullock stepped up the language around the persistence of inflation to try and knock out expectations of cuts this year, and the rising Aussie dollar is a sign that maybe the markets are listening. Today, China’s inflation numbers and Canada’s employment data are the two main releases.
Hosted on Acast. See acast.com/privacy for more information.
1191 episodes
MP3•Episode home
Manage episode 433178177 series 1400104
Content provided by NAB - The Morning Call and Phil Dobbie. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by NAB - The Morning Call and Phil Dobbie or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Friday 9th August 2024
NAB Markets Research Disclaimer
Financial Services Guide | Information on our services - NAB
There was a sharp turnaround in US equities, with the S&P closing up 2.3%. It seems a lot of weight has been put behind the weekly jobless claims number, which is not normally a data point that would drive markets. But in this climate anything is possible. JBWere’s Sally Auld says it was probably an overreaction. Whilst some might see the week’s fall in claims as supporting an argument that the US is a long way from recession, others will point to the trend which shows claims are rising and the job market is weakening. In Australia the RBA’s Michelle Bullock stepped up the language around the persistence of inflation to try and knock out expectations of cuts this year, and the rising Aussie dollar is a sign that maybe the markets are listening. Today, China’s inflation numbers and Canada’s employment data are the two main releases.
Hosted on Acast. See acast.com/privacy for more information.
1191 episodes
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