The US payrolls report on Friday night was solid, despite the headline increase of 214K in October coming in below the 235K expected. September payrolls were revised up by 8k to 256k and August up by 23k to 203k.
Author
Spiros Papadopoulos
“Prior to joining NAB, Spiros worked at the Reserve Bank of Australia, in their Economic Analysis Group.”
Spiros Papadopoulos is the Senior Markets Economist at NAB, and is based in the NAB’s dealing room in Melbourne.
Spiros joined NAB in 1996. In 2000 he moved to the UK, where he was the Senior Economist in the NAB’s dealing room in London. Spiros returned to Melbourne in 2001 to take up his current role.
Prior to joining NAB, Spiros worked at the Reserve Bank of Australia, in their Economic Analysis Group.
Spiros is also involved with Kaplan Education, where he sits on the Taskforce Committee for the Economics subjects.
Recently Published Articles
Looking ahead to Australia and New Zealand
Credit growth to rise 0.4% in September, with the focus on investor housing. Q3 trade prices to show a further large fall in export prices..
Looking ahead to Australia and New Zealand
Q3 CPI to be low. Underlying CPI forecast to rise 0.5% and headline flat. RBA Minutes, Stevens speech and NAB Quarterly Business Survey also next week
Australian Markets Weekly
A weekly outlook for Australia, key global economies and markets
USD strength sees AUD fall again
The USD strengthened against all G10 currencies on Friday night, pushing the AUD to a new post-March low of 0.8921, and it has opened up just above that at 0.8935 this morning. The AUD was not helped by a further 1.6% fall in iron ore.
Australia, New Zealand and China update
Financial Stability Review, RBA Governor a panellist at the Melbourne Economic Forum and second tier labour market data. Election tomorrow and Trade data next week.
Australia, New Zealand and China
Australia: Solid employment gain expected on Thursday. NAB Business Survey and Consumer Confidence also released next week. NZ: RBNZ to temper its OCR outlook in Thursday’s Monetary Policy Statement. China: Trade figures, CPI and industrial production.
Retail sales growing modestly in 2014
Australian retail sales rose 0.4% in July, a good result that builds on the 0.6% growth in June. We were expecting a stronger gain but it nevertheless reaffirms that the negative impact from the Federal Budget on retail spending in May was temporary.
Stevens happy with ‘boring’ policy outlook
RBA Governor Stevens today spoke at a CEDA luncheon in Adelaide. The Governor's speech reinforced expectations that the RBA will remain on hold for some time yet.
RBA sees better signs, but AUD and unemployment still too high
For the 13th consecutive month the RBA has kept the cash rate unchanged at 2.50%. They are still on a neutral bias, and there was no meaningful change to the overall tone of the Statement.
Australia, New Zealand and China update
What to Watch: Week commencing 25 August 2014
Australia, New Zealand and China update
What to Watch, week commencing 11 August 2014
Unemployment surges to 6.4%
Unemployment rate rises to 6.4% in July from 6.0% in June after changes to unemployment definition
RBA Annoucement: RBA on hold; little change to the press release
The Reserve Bank of Australia made no change to policy at today’s meeting, as expected. There were minimal changes to the press release, and the RBA again concluded that “on present indications, the most prudent course is likely to be a period of stability in interest rates.”
Australian Markets Weekly: 28 July 2014
Australia: Building approvals, private sector credit and trade prices highlight the week