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As markets had overwhelmingly anticipated, the Bank of Canada left its policy settings on hold this morning, and expressed concern over persistent weakness in the Canadian economy, suggesting that policymakers are more concerned about downside risks to growth than upside risks to inflation as the world economy faces yet another supply shock.
Officials led by Governor Tiff Macklem maintained the policy...
Financial markets are turning cautiously optimistic this morning as oil prices stabilise and investors position for a raft of central bank decisions. Several tankers registered to non-aligned countries crossed the Strait of Hormuz overnight, even as Iran continued its attacks on Israel and its Gulf neighbours, while Donald Trump said the US could end the war in the “very near future”*. West Texas Intermediate...
• Improved mood. Despite ongoing Middle East issues & high oil prices risk sentiment has improved. Softer USD & a RBA hike supports the AUD.• RBA hikes. Another 25bp rate rise delivered yesterday. Inflation pressures point to another move. Markets already pricing that in. Growth set to slow.
Global Trends
The market mood has picked up over the past couple of sessions, as illustrated by...
After being ‘strategically timid’ during its last tightening cycle the RBA looks to be taking fewer chances when it comes to its renewed battle against inflation with another 25bp rate hike announced today. This follows the rate rise delivered at the last meeting in February and lifts the cash rate back up to 4.1%, just 25bps off the ‘peak’ reached in the 2023/2024 inflation fight (chart...
Good morning. The dollar is recovering from yesterday’s losses as crude prices ricochet higher following a series of Iranian strikes on energy infrastructure in the Persian Gulf and near the Strait of Hormuz. Brent and West Texas Intermediate are each up more than 3 percent on the session after a tanker was struck by a projectile in the Gulf of Oman, and drone attacks hit the United Arab Emirates’...
There was lots of drama over the weekend. Sinners. One Battle After Another. A Shakespearean tragedy. The Secret Agent. Mr Nobody Against Putin. And that was just the Middle East — the Oscars were on too.
Markets are reversing direction and turning cautiously optimistic after several oil tankers navigated the Strait of Hormuz over the weekend, easing fears of a prolonged disruption to crude flows...