More jabs, more optimism, higher Aussie dollar

Wednesday 25th August 2021The tide of optimism seems to have set in, with another day of rising commodity prices and a strengthening Aussie dollar. Rising iron ore prices and zero new cases in China have also helped the Aussie, as the country gets to grips with life with COVID after lockdown. NAB’s Tapas Strickland says politicians are becoming more explicit about living with the virus, with Gladys Berejiklian expected to announce on Thursday some easing measures for those vaccinated. In New Zealand a rate hike in October is very likely, with the RBNZ signalling that the delay was to do with the timing of the lockdown and little more. Australian construction work data for Q2 is out today – if the number undershoots expectations, it could be enough to push Q2 GDP into negative territory.

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