CORPORATE AND INSTITUTIONAL

In October 2019, National Australia Bank hosted a Round Table with emerging lenders to share their experiences on the journey to bank securitisation funding and beyond.

The AUD/USD rose during October on the back of improved global risk sentiment, courtesy of progress on US-China trade talks and Brexit developments.

Hopes of a US-China ‘Phase One’ trade agreement have lifted financial markets. While in Australia we’ve lowered our near-term forecast for growth.

Most of China’s indicators relatively weak year-on-year, however, the 70th anniversary of the founding of the People’s Republic of China at the start of the October has made this harder to gauge.

The Aussie dollar fell sharply yesterday on the back of disappointing jobs numbers, followed by weaker than anticipated activity data from China.

Near term growth prospects still weak, but potential trade deal offers some upside.

The NZ dollar saw the biggest currency move over the last 24 hours.

As the end of year approaches, we’d like to recognise how our corporate and institutional clients are making a difference, in Australia and around the world.

Next RBA cut delayed to February 2020, with the risk of further cuts and QE by mid-2020 without fiscal stimulus.

NAB’s Non-Rural Commodity Price Index is forecast to fall by 7.9% quarter on quarter in Q4 2019.

Private demand still stalled. Broadly unchanged forecasts but slightly lower growth in the near term. Policy help delayed.

The US President offered nothing new about where trade talks are at and the markets little moved.