The Weekly Macro Outlook

Macro review w/c 27 August 2018 - A preliminary agreement on NAFTA was reached between the US and Mexico, with President Trump notifying Congress of his intention “to sign a trade agreement with Mexico – and Canada, if it is willing, 90 days from now”. Talks between...

Macro review w/c 20 Aug 2018 - From Jackson Hole, the US Fed Chairman reiterated his key principal that rate hikes that are too fast or too slow are undesirable. The path for interest rate increases will continue to be gradual and based on the incoming data. The data...

Macro review for w/c 13 August 2018 - Positive developments on trade this week. NAFTA talks between the US and Mexico continued possibly with some breakthroughs on new rules on auto trade and agricultural trade. Canada is yet to re-join talks. Talks are set to resume...

Macro Review for w/c 6 August 2018 - Starting with central bank meetings – the RBA and RBNZ both kept rates on hold last week. The BoJ summary of opinions report highlighted little differences of opinion on recent MP implementation changes. One opinion stood out –...

Macro Review for w/c 30 July 2018 - The US Fed kept rates on hold but affirmed its view of a ‘strong’ economy. This further increased the probability for rate increases in Sept and Dec 2018. The BoJ kept rates on hold and made adjustments to the implementation of...

Macro Review for w/c 23 July 2018 - Positive news on trade last week. The US and EC agreed to at least halt the threat of tariffs while they begin talks to reduce trade barriers. High level NAFTA meetings also recommenced but with little detail/outcome. The...

Macro Review for w/c 16 July;  It was another important week on trade. Japan and the EU signed a large free trade deal, including specific provisions linked to the Paris Climate Agreement - “We are sending a strong signal to the world that two of its biggest economies...

Macro review for 9 July 2018; Escalation in the US-China trade dispute didn’t take long to materialise during the week – starting with China’s announcement of a significant increase in anti-dumping duties of US optical fiber. The US then announced a further...

Macro review for w/c 2 July 2018 - The key highlights; Tariffs on US and Chinese imports went into effect late last week with some heated language around “igniting the largest trade war in economic history”. “International trade policy” featured in central bank...

Macro review for w/c 25 June 2018 - Trade and tariffs, central banks and the latest reading on growth and inflation all featured last week. Key highlights: Trade and tariffs ; The US decided not to invoke a National emergency law to block Chinese investment in US tech...