A shot in the arm for China boosts the Aussie and commodities

Wednesday 26th July 2023NAB Markets Research Disclaimer Financial Services Guide | Information on our services - NABThere was a more substantial build in the Aussie rally yesterday, says NAB’s Ray Attrill which built further overnight. The reason, China, with the Politburo making announcements that suggest they are serious about stepping up macro policy support after the weak Q2 GDP numbers. That’s helped the Aussie and commodities. Meanwhile, the US is languishing in more evidence of a soft-landing, whilst Germany and most of Europe face a tough future. WE don’t have to wait long to see just how that will be reflected in central bank policies, starting with the FOMC first thing tomorrow. Strong earnings results for Alphabet and Microsoft too. Hosted on Acast. See acast.com/privacy for more information.