Tariff delays bring swift response; higher CPI in US, higher wages in UK, disastrous ZEW from Europe - a podcast by Phil Dobbie

Wednesday 14th August 2019

There’s been a sharp turnaround in market sentiment as the US announced delays to the extra tariffs on Chinese imports planned for the end of the month. That’s seen a move away from safe-haven currencies and from bonds, to US equities and the dollar. NAB’s Tapas Strickland says its unlikely to impact the Fed’s roadmap for rate cuts just yet. We’ve also seen a higher than expected rise in US CPI and in UK wages, whilst Germany has suffered the worst ZEW sentiment survey since 2011. The Aussie dollar has been a beneficiary of the risk-on mood, even though yesterday’s NAB Business Survey showed no real improvement in business expectations.

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