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• Market wobbles. Faster US inflation dampened the mood. US equities dipped, bond yields rose. USD firmer. AUD drifted back but still at elevated levels.• AU Budget. A lot of the big ticket items already known. More spending restraint would have been helpful. RBA still has more work to do in its inflation fight.
Global Trends
A few renewed wobbles across markets overnight. There have been no fresh...
The factors driving Israel’s currency higher may owe less to Jerusalem than to Silicon Valley
The Israeli shekel’s surge to a 33-year high against the dollar—breaching the psychologically significant threshold of three to the greenback for the first time since 1993—is one of the stranger puzzles in global currency markets. Up roughly 24% since early last year and nearly 10% in 2026 alone,...
Underlying consumer prices climbed by slightly more than expected in the United States last month, reinforcing the case for a tightening bias from the Federal Reserve, and putting modest upward pressure on the dollar. According to data published by the Bureau of Labor Statistics this morning, the core consumer price index—with highly-volatile food and energy prices excluded—climbed 0.4% month-over-month,...
Good morning and happy US inflation day to all who celebrate. The dollar is advancing and Treasury yields are edging higher in the run-up to the week’s most important data release at 8:30, which is expected to show prices rising 3.7% in the year to April—the fastest rate since 2023. Most major currencies—including the euro, Swiss franc, Canadian dollar, Japanese yen, Australian dollar, and New Zealand...
The dollar is advancing against its major rivals, buoyed by Friday’s stronger-than-expected payrolls report and yet another collapse in US-Iran peace talks*. Days after the Trump administration triggered a relief rally in financial markets by dangling a peace offer, Tehran yesterday released a response that reportedly demanded an end to the US naval blockade, a lifting of sanctions, a cessation...
• Push-pull forces. Positive US jobs offset by US rejecting Iran’s latest offer. US equity futures dipped & oil higher this morning. AUD at elevated levels.• Macro news. Australian budget in focus (Tues night). In the US, CPI inflation is due (Tues night). US producer prices & retail sales out later in the week.
Global Trends
Risk sentiment ended last week on positive footing as hopes...