Stronger earnings, surprising GDP, but no grand-deal
The US finished on a high last week. The dollar had risen after higher than expected GDP growth, and the S&P500 and NASDAQ were on record highs after strong earnings results. This week will be one of the busiest of the year, as Phil Dobbie discusses with NAB’s Tapas Strickland. We’ll find the long awaited Fed decision on interest rates (as well as decisions from the Bank of Japan and Bank of England), plus a swag of data releases, the resumption of trade talks between the US and China (with no grand-deal anticipated), and Britain’s new PM turning up the heat on Brexit, promising a no-deal if the EU don’t withdraw the ‘undemocratic’ Irish backstop from the Withdrawal Agreement. Also, why the weakness in the Aussie and Kiwi dollars?