NAB'sTuesday 10th November 2026
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Phil and NAB's Ray Attrill unpack a strong risk-on session across global markets, led by a sharp 2.5% rebound in the Nasdaq and a steep decline in crude oil, with Brent sliding nearly 5% toward US$93.50 a barrel as Middle East de-escalation hopes take center stage. The semiconductor space saw dramatic divergence: while Nvidia dropped almost 5% following sensational allegations involving CEO Jensen Huang, rivals AMD and Broadcom surged 12% and 9% respectively, lifting the Philadelphia Semiconductor Index more than 6%. Elsewhere, Chinese inflation prints highlighted ongoing domestic disinflation with headline CPI at 0.7% year-on-year, even as upstream PPI rose 5.7%. Domestically, the Australian dollar pushed back above 69 US cents ahead of today's key NAB Business Survey and Westpac Consumer Sentiment data for Australia, while investors globally brace for the crucial US CPI report due out later today. Meanwhile, European markets digest Dutch central banker Klaas Knot's candidacy for the ECB presidency and comments downplaying the immediate need for aggressive rate hikes.
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