Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Australian Stock Exchange  >  National Australia Bank Limited    NAB   AU000000NAB4

NATIONAL AUSTRALIA BANK LIMITED

(NAB)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Dollar resumes rebound from multi-year lows as yields provide support

01/13/2021 | 04:25pm EST
FILE PHOTO: A U.S. Dollar banknote

NEW YORK (Reuters) - The U.S. dollar on Wednesday resumed its rebound from near three-week lows, rising broadly on hopes of higher government spending by President-elect Joe Biden's incoming administration and an ongoing economic recovery from the coronavirus crisis.

A rise in U.S. Treasury yields, driven by expectations that Biden's administration will ramp up spending, has helped boost the battered dollar in recent sessions, although it slumped on Tuesday.

The greenback has also found support from expectations of a continued economic recovery in the United States, even as countries in Europe resort to lockdowns to fend off a second COVID-19 wave.

"You are seeing a continuance of the U.S. outperformance trade," Karl Schamotta, chief market strategist at Cambridge Global Payments in Toronto.

U.S. Treasury yields slid on Wednesday as the Treasury Department completed its final sale of $120 billion in coupon-bearing supply this week, in which investors showed strong demand for long-dated bonds.

Yields on the benchmark Treasury note dropped to 1.071%, down from an almost 10-month high of 1.187% on Tuesday.

Still, the pop in the 10-year Treasury yield above 1% has put a firmer floor under the dollar, Joe Manimbo, senior market analyst at Western Union Business Solutions, said in a note.

The U.S. dollar index was 0.37% higher at 90.359. The index has climbed 1.3% since falling to near a three-year low of 89.21 last week.

The rally has raised worries about the viability of betting on further losses for the dollar after its 7% decline last year.

Data on Wednesday showed U.S. consumer prices increased solidly in December amid a surge in the cost of gasoline, though underlying inflation remained tame as the COVID-19 pandemic weighed on the labor market and services industry.

"Overall, the firm headline December CPI gain was mostly due to an energy price pop that is extending into January, though lean readings for the core components suggest little risk of the inflation figures heating up anytime soon," Michael Englund, chief economist at Action Economics, said in a note.

Sterling hit a seven-week high against the euro on Wednesday, building on gains during the previous session when the Bank of England's governor dismissed the idea of negative interest rates, while optimism over the pace of Britain's vaccination rollout also offered support. [GBP/]

(Reporting by Saqib Iqbal Ahmed; Editing by Paul Simao)

By Saqib Iqbal Ahmed


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EURO / US DOLLAR (EUR/USD) -0.01% 1.2169 Delayed Quote.-0.41%
NATIONAL AUSTRALIA BANK LIMITED -0.74% 24.12 End-of-day quote.6.73%
WESTERN UNION COMPANY 0.14% 22.06 Delayed Quote.0.55%
All news about NATIONAL AUSTRALIA BANK LIMITED
01/21Australian dlr slips after bleak Dec retail sales data, NZ$ weakens
RE
01/20S&P/ASX 200 : Australia Consumer Confidence Falls in January amid Rising COVID-1..
MT
01/19NATIONAL AUSTRALIA BANK : Appendix 2A
PU
01/14NATIONAL AUSTRALIA BANK : NAB ranked in top 10 global issuers of bonds addressin..
PU
01/13Dollar resumes rebound from multi-year lows as yields provide support
RE
01/13Dollar resumes rebound from multi-year lows as yields provide support
RE
01/13Dollar resumes rebound from multi-year lows
RE
01/13NATIONAL AUSTRALIA BANK : Becoming a substantial holder for NEC
PU
01/12NATIONAL AUSTRALIA BANK : Announcement of buy-back - Appendix 3C
PU
01/11Australia shares gain as markets bank on U.S. stimulus hopes
RE
More news
Financials
Sales 2021 17 010 M 13 113 M 13 113 M
Net income 2021 4 840 M 3 731 M 3 731 M
Net Debt 2021 - - -
P/E ratio 2021 16,9x
Yield 2021 4,09%
Capitalization 79 392 M 61 264 M 61 204 M
Capi. / Sales 2021 4,67x
Capi. / Sales 2022 4,61x
Nbr of Employees 31 372
Free-Float 99,7%
Chart NATIONAL AUSTRALIA BANK LIMITED
Duration : Period :
National Australia Bank Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NATIONAL AUSTRALIA BANK LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 24,75 AUD
Last Close Price 24,12 AUD
Spread / Highest target 9,87%
Spread / Average Target 2,60%
Spread / Lowest Target -8,79%
EPS Revisions
Managers and Directors
NameTitle
Ross Maxwell McEwan Group CEO, Managing Director & Director
Philip Wayne Chronican Chairman
Leslie Durno Matheson Chief Operating Officer
Gary A. Lennon Group Chief Financial Officer
Patrick C. Wright Chief Technology Officer