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• US/Iran ceasefire. News of a ceasefire has boosted risk sentiment. Equity futures higher, oil lower, USD weaker. AUD & NZD at multi-week highs.• Lingering issues. Developments are a positive. But economic aftershocks of events still in the pipeline. RBNZ meets today. No change in rates expected.
Global Trends
Markets have been on edge to see if President Trump crystallizes his ramped-up threats...
Good morning. Oil prices jumped and currency markets slid back into risk-aversion mode last night when Donald Trump claimed the US-Israeli war against Iran was “nearing completion” but failed to offer a clear timeline and threatened more attacks. In a 19-minute address from the White House, the president said “We are on track to complete all of America’s military objectives shortly, very shortly,”...
Markets are soaring after US President Donald Trump announced an end to the war in Iran, saying that he and parliamentary Speaker Mohammad Bagher Qalibaf had “really hit it off” during a FaceTime call brokered by Jared Kushner. “Tremendous guy. Deeply misunderstood. Loves oceanfront real estate,” Trump posted at 4:17 AM.
Under the proposed settlement, Iran has agreed to give up nuclear enrichment...
• Positive vibes. ‘Glass half full’ markets buoyed by US/Iran comments. US equities rose, oil fell. USD weaker. AUD & NZD claw back some lost ground.• Economic reality. Still more water to go under the bridge. Impacts of energy supply shock yet to show. More bursts of volatility likely over coming weeks.
Global Trends
After a challenging few weeks for risk sentiment, markets ended...
Financial markets are staging yet another relief rally after the Wall Street Journal reported that Donald Trump is considering declaring victory in the Iran conflict without establishing control over the Strait of Hormuz. According to an article published last night, the president now believes the US should limit itself to incapacitating Iran’s navy and missile forces, unilaterally ending large-scale...
The dollar is on course for its strongest monthly performance since July and Brent crude is tracking what could be a record monthly gain as the US-Israeli war against Iran devolves into a protracted regional conflict. In an interview with the Financial Times last night, US president Donald Trump said “To be honest with you, my favourite thing is to take the oil in Iran but some stupid people back in...