Wednesday 9th August 2022

Markets are a bit in limbo today. We’ve seen bond yields reversing some of their initial response to non-farm payrolls, with the US dollar temporarily switching direction, and the Aussie and Kiwi dollars gaining strength. But for how long? NAB’s Skye Masters says what happens next will depend on US CPI numbers tomorrow. There was a glint of hope that the worst is over with slight decline in inflation expectations in the US and New Zealand. Certainly the NAB business survey will be scanned eagerly today for price movement.