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Investors are bargain-hunting across the financial markets this morning, scooping up discounted assets after a multi-week selloff. Futures on North American equity markets are pointing to gains after the open, Treasury yields are inching higher, and economically-sensitive currencies are outperforming their safe-haven brethren amid a broader improvement in risk appetite.
The Canadian dollar remains...
After delivering an aggressive series of interest rate cuts over the past ~18-months in a bid to revive NZ’s economic fortunes, it wasn’t a surprise to see the Reserve Bank of NZ hold the Official Cash Rate steady at 2.25% today. Rather, the focus was on the RBNZ’s updated thinking about the outlook, especially as this was also new Governor Breman’s first meeting in charge.
The RBNZ provided a balanced...
• Choppy markets. Intra-session swings overnight. Positive steps between US/Iran help sentiment. AUD & NZD tick a bit higher in quiet trading.• Macro events. RBNZ today. No change in rates expected. New forecasts released. AU wages out today ahead of the monthly jobs report tomorrow.
Global Trends
Markets were choppy overnight with intra-session swings translating to only limited net changes....
Good morning. Risk aversion is dominating markets as trading resumes after yesterday’s North American holiday. The dollar and safe-haven yen are extending their gains, two-year Treasury yields are sliding toward three-year lows, and equity futures are pointing to a weaker open as investors brace for a continuation of last week’s rotation away from AI-exposed businesses. Oil prices are slightly higher...
• US CPI. Cooling US inflation helped stabilise risk sentiment. US bond yields dipped. USD tread water, as did the NZD. AUD drifted a bit lower on Friday.• Event radar. US holiday tonight. Lunar New Year started. RBNZ meets this week (Weds). US GDP (Fri night AEDT) & AU jobs data also out (Thurs).
Global Trends
There was a mixed performance across markets at the end of last week with encouraging...
Consumer price growth avoided a widely-feared acceleration in the United States last month, giving the Federal Reserve room to adopt a slightly more accommodative stance in the months to come. 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 2.5 percent in the year ending in January,...