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Good morning. Financial markets are experiencing violent price action after the weekend’s US-Israeli strike on Iran triggered a classic—if short-lived—flight to safety and a sharp repricing in global energy markets. With shipping through the Strait of Hormuz grinding to a standstill and Gulf producers curtailing output, crude prices are up roughly 9 percent from Friday’s close, while natural gas benchmarks...
• Geopolitical nerves. US/Israel conflict with Iran has dampened risk sentiment in early Asian trade. USD firmer. NZD slips back. AUD underperforms.• Lingering risks. Market nervousness may persist for a while. Focus on oil. Risk of a jump up in prices. This could have macro impacts & be USD supportive.
Global Trends
The weekend geopolitical news looks set to dominate the market action, at...
Currency markets are set for a jolt when trading resumes this afternoon, though the reaction may prove less dramatic than the weekend’s headlines might suggest.
US and Israeli strikes on Iran have sent missiles arcing across the Middle East and claimed the life of Supreme Leader Ali Khamenei, prompting celebrations in Iranian cities. Yet for all the pyrotechnics, the military campaign appears calibrated...
The US and Israel launched air strikes on Iran earlier this morning, with the apparent aim of overthrowing the regime that has ruled since 1979. In an early-morning address, US president Donald Trump said “The United States military is undertaking a massive and ongoing operation to prevent this very wicked, radical dictatorship from threatening America and our core national security interests,” telling...
Good morning. Tensions between the US and Iran, doubts about the sustainability of the artificial intelligence boom, and uncertainty over the Trump administration’s tariff plans are restraining risk appetite, leaving most major currency pairs nearly flat against yesterday’s fix. The dollar is trading incrementally softer against a basket of its peers, benchmark ten-year Treasury yields...
• AUD strength. Positive sentiment & firmer inflation have supported the AUD. This & JPY weakness have propelled AUD/JPY to a multi-decade high.• Data flow. US producer price inflation due later this week. Looking ahead, AU GDP, as well as the US ISMs, retail sales, & jobs report are out next week.
Global Trends
There was an upbeat tone overnight with limited fresh economic newsflow...