Commodities fall, VIX jumps, Aussie hit hard as growth concerns rise
Friday 20th August 2021There are more concerns over the global growth story, with commodity prices falling and the Aussie dollar one of the hardest hit currencies this morning. NAB\u2019s David de Garis says China\u2019s growth is one of the biggest concerns. Phil Dobbie asks whether expectations were set too high. COVID case rises continue to play on uncertainty, with another report showing how the efficacy of vaccines can quickly deteriorate, hence the need for booster shots. Debates over the time of the Fed\u2019s tapering continues, but it\u2019s unlikely we\u2019ll hear more at Jackson Hole next week. Aussie employment numbers yesterday might have surprised on the upside, but it wasn\u2019t as strong as the headline would suggest and, in any case, it won\u2019t last with lockdowns continuing. Once again, COIVD cases for NSW, Victoria and NZ will be the most important numbers of the day today.
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