Are things too good in the lucky country?

Tuesday 10th February 2026

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Global markets are in a buoyant mood, with US and European equities pushing higher, the US dollar sliding and lifting the Aussie above 70.9 US cents, and commodities from gold to oil on the rise — but the real story today is at home, where Australia’s household spending remains 5% higher than a year ago. Will today’s NAB business survey continues to show strong trading conditions and high-capacity utilisation, reinforcing the question of whether the economy is simply running too hot for the RBA’s comfort. With US markets bracing for retail sales, inflation and jobs data, Japan settling after Sanae Takaichi’s decisive election win, and UK assets wobbling on political jitters, Rodrigo Catril joins us to unpack whether Australia’s resilience is now a policy problem.

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