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03 Dec 2024

03 Dec 2024

Markets calm despite political turbulence

• Political news. Political developments in South Korea & ongoing issues in France dominated the international news flow the past 24hrs.• Calm markets. However, market spillovers were limited. European equities rose. USD held steady, as did AUD. NZD eased slightly.• AU growth. Q3 GDP released today. Partial data points to a pick up in activity. A ‘soft landing’ looks to be intact. RBA set to lag its global peers. News-wise there has been a lot going on but the geopolitical developments had limited spillover across markets overnight. In South Korea, after months of political deadlock President Yoon stunned the nation...

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03 Dec 2024

Dollar Rally Eases on Waller Comments, Euro Remains Under Pressure

The dollar is trading with a softer bias this morning after Federal Reserve Governor Waller suggested that he would support cutting rates at the central bank’s next meeting, helping put pressure on the front end of the US yield curve. The Canadian dollar and Mexican peso are inching higher as traders double down on bets that Donald Trump’s recent tariff threats will come to naught, the Japanese yen is climbing on a narrowing in rate differentials, and the pound is trying to build the momentum to break back into the high 1.20’s against the greenback. “At present, I lean toward...

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