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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.

Concerns over the impact of a second wave in the US and Europe seem to be gathering momentum, driving investors to government bonds and safe-haven currencies.

What more can central banks do to help stabilise the global economy?

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

It’s been a topsy turvy session overnight.

For the week ended September 12, NAB data showed a -2.5% year-on-year fall in overall consumption spending.