COVID19 cases continue to rise in Europe, with numbers in the UK and France now well above the first wave.

NAB Group Chief Economist Alan Oster talks about the latest impacts of the Coronavirus. Listen now.

Recovery continues, but risks remain.

Equities were rising again in the US overnight on the hopes that a stimulus deal would be struck between the GOP and Democrats, but as optimism turned to reality, prices fell, the US dollar regained some of its strength and bond yields weakened.

NAB had forecast that the Aussie dollar would reach 74 US cents by the end of the year. It did earlier this month but, as global risk sentiment rises, it is rapidly losing ground.

In the US Jerome Powell spelt out very clearly in his testimony before Congress that more fiscal stimulus was needed and had been assumed by many board members in their policy predictions.

The RBA continues to signal further monetary easing is likely.

NAB Group Chief Economist Alan Oster talks about the latest impacts of the Coronavirus. Listen now.

Traditionally the labour market has been a lagging indicator of activity. However, in this pandemic it is largely contemporaneous and is thus a good summary indicator of the wider economy as well as being timely given new data sets such as weekly payrolls and regular job ad updates by SEEK and Indeed.