• Market swings. Middle East conflict generated a burst of volatility overnight. Equities declined, oil prices rose. AUD traded in a ~2.5% range yesterday.• Macro news. AU Q4 GDP today. RBA Gov. Bullock...

Dollar powers higher as Mideast conflict widens

03 March, 2026

Good morning. The dollar is steamrolling its major rivals for a second consecutive session as geopolitical risks and inflation fears reinforce one another. With the conflict in the Middle East showing...

Volatility rises as conflict spreads, but currency movements remain restrained

02 March, 2026

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...

Duck & Cover

01 March, 2026

• 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...

Currency markets brace for modest moves as Iran strikes fail to shift strategic calculus

01 March, 2026

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...

US and Israel launch regime change attempt in Iran, potentially roiling markets

28 February, 2026

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...

Currency ranges hold as risk appetite softens

27 February, 2026

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...

AUD outperforms

25 February, 2026

• 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...

Markets stabilise as State of the Union address proves uneventful

25 February, 2026

Financial markets are becalmed after US president Donald Trump stuck to the script in his State of the Union address last night, avoiding any major policy announcements and striking a more measured tone...

Dollar resumes its climb against still-uncertain backdrop

24 February, 2026

Good morning. The dollar is advancing against most of its major counterparts and measures of implied currency volatility are tracking near historic norms as foreign exchange traders downplay tariff risks...

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