Sally Auld

speaker

5,823 appearances 57 recordings 1 series first heard Sep 2024 last heard 17 Aug

Sally Auld’s voice in public audio — every appearance, attributed to the second.

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recordings per month · last 12 months

Recordings per month over the last 12 months — 28 in all, peaking in Aug 2026 with 3.

Appearances

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NAB Morning Call · Out of Office · 16 Feb 2026 podcast

Yeah, it's it's interesting, you know, on your first point around, you know, a lot of people not having much in the way of downside protection to equity markets. voice-verified

Uh, you know, that that's interesting in the sense that we have been through a period where, you know, Vol's been super cheap. voice-verified

Um and so it has been, you know, uh I guess a good opportunity to to take out some protection. voice-verified

Um and I suspect some of the some of the purchasing of gold, um, you know, might be voice-verified

one way of of managing that downside risk. voice-verified

But yeah, on the dollar, I mean, you know, I think that you're right, that is a a broadly consensus view that, you know, we are in, I guess, the midst of a multi-year structural downtrend in in the US dollar. voice-verified

And, you know, if we look at the the DXY index, uh, you know, that peaked back in late 22. voice-verified

uh and you know is up about fifteen percent from from its highs. voice-verified

And we know that that sort of decline in the US dollar has happened in fits and starts, so, you know, we saw, you know, quite a big decline voice-verified

in the first half of twenty twenty five and we've seen, you know, a bit of a decline and a small rebound in the the first month or so of twenty twenty six. voice-verified

Um but it does feel like that's a a widely held trade. voice-verified

Um it doesn't mean that consensus trades are wrong because I think when we look around, you know, whether looking at the the valuation of the US dollar uh or looking at what capital flows are doing, uh, or even, you know, what's happening within the US voice-verified

I think there is a sense that um, you know, we're we're probably not yet at the end of of that story around voice-verified

Dollar one. voice-verified

Yeah, that's right. voice-verified

So I think this this'll be important data, you know, for the the Bank of England. voice-verified

Uh, because, you know, some of the numbers over there, so the G D D P number that we we saw last week, you know, that that hasn't been voice-verified

that hasn't been strong, um, and we'll look, I think, at the unemployment numbers and the labour market numbers today just to sort of get a sense of voice-verified

you know, whe where we're tracking on that because more weakness in in that voice-verified

complex, I guess, would make you at the margin a bit less worried about what wages growth are doing and, you know, might sort of even see the market get a bit more excited about the prospect of a cut from the Bank of England uh as soon as March of this year. voice-verified

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