Tapas Strickland

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3,313 appearances 30 recordings 1 series first heard Sep 2024 last heard Aug 2025

Tapas Strickland’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Tariffs kick in & BoE’s Close Call · 7 Aug 2025 podcast

And obviously, the main reason is that lift in the gold price.

If you look at the gold price in Australian dollar terms, it's risen by 76% over the past year.

And if you look at surveys of reserve asset managers, whether that's by the World Gold Council or other organizations, they're all suggestive of reserve asset.

asset managers, FX reserve managers tilting more towards gold, uh tilting marginally away from the US dollar, uh and uh being relatively neutral on the euro there.

So I think the uh prospects for for gold are still uh very, very encouraging and that should be very um positive for the Australian economy, just given now gold uh was Australia's third largest uh export in July.

Oh sorry, in June.

Uh potentially and if it's not working and there's big adverse market reactions, uh then I'm pretty sure the US administration would be backtracking or at least doing larger carve outs uh for various different uh tariff items.

So the uncertainty is there, but at least with the tariff rates as they are at the moment, uh businesses it looks like are starting to make a few few more decisions.

And is

I think it is.

And in the trade data though there was a fall in exports fr uh from Germany to to the US.

So it does look like it is starting to impact uh Germany uh in terms of export demand.

Uh and then the other uh aspect of it as we were talking before, uh as China's exports have actually risen, they haven't fallen, uh finding those alternative markets, Europe is obviously one of those big alternative markets there.

So uh uh competition is heating up in Europe uh because of uh Chinese

goods um going into that market that may have previously gone to the US.

So definitely the European economy is coming under bit of strain, uh particularly on the manufacturing side.

Yeah, so jobless claims were pretty much as expected.

I think it was a two hundred and twenty six thousand versus two hundred and twenty two thousand um consensus.

So uh probably n not real new news there, but the uh continuing uh rise in that continuing claim series it does suggest there's a little bit of a soft underbelly in the labour market there.

So for those people on the uh Fed who uh advocating for cuts, I guess it probably just adds towards that view that the labour market uh maybe isn't as tight as the uh headline unemployment.

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