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• JPY jump. USD weaker as Japanese officials intervene to prop up the very weak JPY. This & positive sentiment boosted the AUD & NZD.• Macro trends. Further bouts of JPY intervention possible. US GDP re-accelerates. BoE & ECB hold rates steady, but ECB hints at future hikes.
Global TrendsA few push-pull forces washed through markets overnight with risk sentiment generally improving at...
Good morning. The dollar is beating a retreat from two-week highs as traders process the implications from four major central bank decisions, three critical economic data releases, another leg higher in crude prices, and a “final” currency intervention warning from Japanese authorities.
The Federal Reserve left interest rates unchanged in a meeting that exposed a growing hawkish tilt among many members...
• Market wobbles. Jump in oil & ‘hawkish’ vibes from US Fed rattled investors. USD firmer. AUD & NZD lost ground. AUD underperforms on crosses.• AU CPI. Inflation accelerates, but not as much as expected. However it is too high & RBA should respond. More hikes priced. Growth set to slow.
Global Trends
A few renewed wobbles across markets overnight as a mix of factors rattled...
Oil benchmarks and the dollar are extending yesterday’s gains after the Wall Street Journal said US president Donald Trump is preparing to maintain an indefinite blockade against Iranian shipping, rather than accepting Tehran’s peace proposal or resuming military attacks. Barrels of Brent crude are trading for more than $114, while West Texas Intermediate changes hands for $103, and the greenback...
Good morning. The dollar is advancing and Brent crude prices are back above $110 a barrel as the US and Iran fail to make meaningful progress toward a deal that might relieve strain on global energy markets. Over the weekend, Iranian Foreign Minister Abbas Araghchi reportedly proposed that Tehran and Washington end their blockades and maintain a regional ceasefire while postponing nuclear talks to...
• Upbeat vibes. Reports Iran proposed reopening Strait of Hormuz supported sentiment. Equities rose. AUD near top of its range. But oil markets sceptical.• Event radar. US/Iran still in focus. Australian Q1 CPI due (Weds), as is US GDP (Thurs night). Five central banks meet including US Fed (Thurs morning).
Global Trends
Mixed fortunes across markets at the start of the new week. On the back of...