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Surprising no one, the Bank of Canada left its policy settings on hold this morning, while warning that it faces a ‘dilemma’ in responding to the risks bearing down on the economy. Higher energy prices could feed a rise in generalised price pressures, but trade uncertainty remains a major headwind and the economy is expected to maintain considerable slack—limiting upside inflation risks...
Annual headline inflation hit a three-year high in the United States last month, but decelerated slightly on a monthly basis while a measure of underlying price pressures eased—averting a widely feared intensification and reinforcing the case for the Federal Reserve to hold rates steady.
The Bureau of Labor Statistics’ consumer price index rose 0.5% in May, slowing from April’s 0.6% gain. On...
• Market wobbles. Renewed tensions in the Middle East dampen sentiment. Tech stocks slip back again. AUD still on the backfoot. AUD underperforms.• Macro news. AU consumer confidence falls further below average. Doubts RBA may hike again. US CPI out tonight. Jump in US inflation may generate vol.
Global Trends
More wobbles and volatility across financial markets overnight. Tension and uncertainty...
Good morning. Financial markets are staging a muted recovery as the selloff in US technology stocks eases and tensions in the Middle East ratchet lower. Major indices are on course to extend yesterday’s advance at today’s open, and risk-sensitive assets are catching a bid, giving the euro, pound and yen room to gain against the dollar.
Oil prices are slipping from their highs as the conflict...
• Market swings. Modest improvement in sentiment overnight after risk aversion on Friday. Markets bring forward US rate hike pricing. AUD near 2-month low.• US data. Better than expected US jobs report on Friday. US CPI out this week. Markets may continue to adjust their US Fed thinking. More vol. expected.
Global Trends
A few turbulent sessions across markets the past few days with a rather acute...
Of all the rituals of finance most ripe for disruption by artificial intelligence, few are as deserving as the quadrennial spectacle of sell-side World Cup analysis. Like clockwork, the world’s biggest banks deploy teams of economists and quants to divine the tournament’s champion and tally the macroeconomic spoils. Thousands of pages and reams of data visualisations later*, they reach...