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29 Apr 2026

Oil & ‘hawkish’ Fed rattle nerves

• 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 nerves. European equities lost ground (EuroStoxx600 -0.6%) and the major US indices tread water, while bond yields rose with US rates climbing ~8-11bps across the curve. Elsewhere, the USD edged up with EUR (now...

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Market caution returns as US plans extended Iran blockade

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 is reversing last week’s losses as hopes for a diplomatic resolution to the conflict fade. Equity futures, by contrast, are climbing ahead of the open as investors anticipate strong earnings from a number of technology behemoths, including Alphabet, Amazon, Meta,...

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