Ray Attrill

Ray Attrill

Head of FX Strategy

“Ray has 30 years experience as an economist and market strategist, obtained in roles working in London, Sydney and New York.”

Ray Attrill is Head of FX Strategy within the Fixed income, Currencies and Commodities division of National Australia Bank.

In this role, he advises the bank’s dealing rooms and institutional and corporate clients on developments in global foreign exchange markets.

Ray has 30 years experience as an economist and market strategist, obtained in roles working in London, Sydney and New York. Prior to joining NAB in 2012, he held a similar role at BNP Paribas, based in New York.

He previously amassed considerable experience in research and strategy, being a joint founding partner for 4CAST limited, a leading independent economic and financial market research company. Prior to that, he worked for many years in senior roles at MMS International, also a leading on-line market research provider.

He holds both Master and Bachelor of Science degrees in economics from the London School of Economics.


In G10 FX, AUD and SEK were the only two currencies to buck the trend of a falling US dollar.

Markets have largely paused for breath overnight, with US Treasury yields flat-lining and the US dollar ever so slightly firmer.

For an avowed AUD bear, Friday was about as depressing a day as it has been all year.

The Canadian dollar is the standout winner in FX markets after the Bank of Canada raised rates by 0.25% to 0.75% as widely expected but didn’t deliver the ‘dovish hike’ some were expecting.

In German chancellor Angela Merkel’s words, the G20 accord issued on Saturday night didn’t even attempt to paper over the differences between the United States and the other 19 G20 members.

The AUD is a little softer this morning, thanks largely to comments from RBA Board member Ian Harper in a Dow Jones interview published around 7pm last night.

The narrow DXY US dollar index ended Q2 recording its biggest quarterly loss since Q3 2010.

The late great Robin Williams sang this theme song to the 1999 South Park movie at the Academy Awards, penned by Matt Stone and Trey Parker, in which Sheila blames Canada for the kids’ bad language (and more besides) after watching the expletive-ridden Canadian movie Terrence and Phillip: (expletive deleted) of Fire.

Some very refined harmonies from Seattle indie folk band Fleet Foxes to start the week.

US bond markets have been treading water in front of the two day FOMC meeting that commences tonight, 10s stuck around 2.2%, while the Australian dollar has been spent most of its time meandering within a narrow 0.7420-0.7445 range.

The T.Rex 1971 classic is doubtless before most readers’ time but not this one unfortunately, growing up with the first (and still the best) U.K. glam-rockers.

Almost certainly neither Sam and Dave nor Elvis Costello had inflation or inflation expectations in mind when the recorded this track, though for the record US CPI was running a little shy of3% when Sam and Dave first recorded the song in 1967, and over 20% in the UK when Elvis Costello covered it in 1980.

Not a big night for markets.

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