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.


Trade talks between the US and China took a turn for the worse at the end of last week, with the Trump administration issuing a list of $50 billion worth of products that would be hit with a 25 percent tariff.

The US federal Reserve lifted interest rates this morning, as expected.

Can we expect any market reaction to the Singapore Summit? Also, the response to the spat between Trump and Trudeau, the disappointing manufacturing data from the UK and the start of a busy week for central banks and Brexit talks.

Leaders going into G7 seem to be holding their positions firm on trade tariffs and the Iran Nuclear Deal. So much so, it’s unlikely the markets will pay too much attention.

After the excitement of Parmageddon last week, followed by the sudden enforcement of steel and aluminium tariffs on Trump’s supposed allies, the markets can at last look forward to a more traditional week where data and central bank policy drives the agenda.

The markets have retreated somewhat from yesterday’s tumultuous response to uncertainty over who will govern Italy, and their stance on the Euro and EU membership.

The breaking news this morning is that Italy’s premier designate Guiseppe Conte has stepped aside, unwilling to form a government.

Steven Mnuchin says the trade war with China is on-hold, for now, after the agreement that will see China supposedly buying more from the US, but not the reported extra $200 billion worth.

In Italy, the populist parties aiming for a coalition Italian government are said to be demanding a €250bn debt write down by the ECB.

Trump seems to be offering a lifeline to Chinese telecoms company ZTE, whilst threatening car manufacturers with a 20 percent import tariff.

It’s been a bumpy day for oil following Trump’s withdrawal from the Iran Deal. But it’s today’s weaker than expected US CPI data that has had the most influence, driving down Treasury yields and giving a boost to share prices.

The US to reinstate tough economic sanctions against Iran, with the threat of secondary sanctions against those who continue to support the regime. Plus last night’s Budget, Theresa May’s split cabinet and the risk of another election in Italy.

Will tonight’s Budget satisfy the ratings agencies?

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