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Good morning. Price action is slowing across the financial markets as geopolitical noise levels come down, and consolidative trading patterns are emerging across most major currency pairs as investor focus pivots back toward economic fundamentals. The dollar is holding steady but remains on the defensive against an improving global growth backdrop, renewed talk of diversification away from US assets,...
Markets look set to extend gains for a second day after President Donald Trump ruled out the use of force and retreated from threats to seize Greenland through economic coercion. The dollar is firmer, yields are steadier, and stock futures are pointing to a stronger open as a relief rally plays out across asset classes. Measures of implied volatility in Treasury, equity, and foreign exchange markets...
• Improved tone. Reports of a Greenland deal ‘framework’ boosts sentiment. US equities rose. USD index a bit firmer. AUD outperforms. NZD edges higher.• Data flow. The volatile Australian jobs report due today. US PCE deflator out tonight. Tomorrow Q4 NZ CPI is released. BoJ also meets on Friday.
Global Trends
An improvement in risk sentiment overnight after US President Trump dialed...
Markets are celebrating TACO Tuesday on a Wednesday after US President Donald Trump dropped a threat to impose tariffs on imports from a number of European trading partners, saying that he and NATO Secretary-General Mark Rutte had “framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region”. The dollar is climbing against its peers, while the Swiss franc falls amid...
After several days of turbulence, selling pressure is easing across financial markets, suggesting that investors expect US president Donald Trump to adopt a less confrontational approach when meeting in person with his counterparts at the World Economic Forum in Davos later today. The dollar is steadying against its peers, Treasury yields are stabilising near recent highs, and equity futures are pointing...
Equity futures, Treasuries, and the dollar are down for a second day as investors shun US assets in the aftermath of the weekend’s Greenland-related tariff threats from Donald Trump, and selling in Japanese bond markets puts upward pressure on global yields. On Saturday, Trump threatened to impose import taxes on goods from European countries until they allow the US to buy the Danish territory, beginning...