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NAB Morning Call
Talking Turkey
Nov 27, 2024
Ken Crompton, a market economist at NAB, shares his expert insights on the current economic landscape. He discusses the weaker dollar and declining share prices ahead of Thanksgiving, highlighting how thin trading impacts markets. Ken analyzes the Reserve Bank of New Zealand's recent rate decisions and hints at possible future cuts. He contrasts this with the European Central Bank's cautious stance and explores inflation trends in Germany and Australia. Listeners gain valuable perspectives on shifting economic sentiments and monetary policies.
16:53
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Quick takeaways
- The US dollar's significant decline reflects market sentiment and anticipated changes in monetary policy, particularly ahead of the Thanksgiving holiday.
- Central banks in Australia and Europe face inflationary pressures, complicating their monetary policy decisions despite recent reassuring economic data updates.
Deep dives
Dollar Dynamics and Market Movements
The US dollar experienced a significant decline, dropping 0.9% on the DXY index, falling below 106, despite being up 6% since the end of September. This decline was particularly pronounced against the Japanese yen, which rose by 1.3%, along with gains against the euro and pound. The adjustments in currency values appear to be influenced by market sentiment and anticipated changes in monetary policy from the Bank of Japan. As the trading was thin ahead of the Thanksgiving holiday, these fluctuations likely reflect broader trends rather than strong economic indicators.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode