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.


A rather uninspired song title (from a band whose name might not make it through the filters) from your somewhat sleep-deprived scribe (Lorde concert at the Opera House on a school-night, and at my age).

Two song titles in deference to the untimely death of AC/DC founding member Malcom Young at the weekend at just 64.

Frankfurt is the town and the great and the good of the global central banking fraternity will be the doing the talking later today at an ECB sponsored conference on central bank communication.

A somewhat bitty, non-descript market offshore on Friday with asset markets not all marching to the same tune.

Jive Talking: “To speak in an exaggerated, teasing, or misleading way”. I can’t believe we haven’t used this Bee Gees classic once in the year that has almost passed since the result of a certain election.

Two factors drove much of Friday’s offshore market activity. One was a Bloomberg source report suggesting that President Trump was inclined to nominate Jerome (‘Jay’) Powell to be the new Fed chair.

US bond yields ended the NY session on the day’s highs.

Milk It is from Nirvana’s third album ‘In Utero’ and starts with the line ‘I am my own parasite, I don’t need a host to live’. It references Kurt Cobain’s frustration with fame and drug addiction.

It’s now six from seven in terms of core US CPI undershooting expectations (six months at 0.1% including Friday’s September print and just one at the 0.2% consensus estimate that has prevailed for each of these seven months).

Neil Diamonds’ Beautiful Noise was the working title for today’s missive following the latest US payrolls s report on Friday.

The challenge meted out by some of my colleagues yesterday (many of whom are probably still in bed) was to incorporate as many songs from the now late great Tom Petty into this daily missive.

Fed chair Janet Yellen spoke last night and opined that it would be ‘Imprudent to keep monetary policy on hold until inflation hits 2%’

Hung parliaments on current voting tallies in general elections in New Zealand on Saturday and Germany on Sunday have taken bites out of the NZD and EUR at Monday’s market re-open.

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