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CAD

10 Jun 2026

Bank of Canada holds, maintains rate neutrality

Surprising no one, the Bank of Canada left its policy settings on hold this morning, while warning that it faces a ‘dilemma’ in responding to the risks bearing down on the economy. Higher energy prices could feed a rise in generalised price pressures, but trade uncertainty remains a major headwind and the economy is expected to maintain considerable slack—limiting upside inflation risks for now. Officials led by Governor Tiff Macklem held the policy rate at 2.25% for a fifth consecutive meeting, having delivered nine cuts between June 2024 and September 2025. In remarks prepared for the post-decision press conference, Macklem...

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09 Jun 2026

Groundhog day

• Market wobbles. Renewed tensions in the Middle East dampen sentiment. Tech stocks slip back again. AUD still on the backfoot. AUD underperforms.• Macro news. AU consumer confidence falls further below average. Doubts RBA may hike again. US CPI out tonight. Jump in US inflation may generate vol. Global Trends More wobbles and volatility across financial markets overnight. Tension and uncertainty in the Middle East remains. On the one hand, there were reports Kuwait is offering to sell oil to refiners in Asia for the first time since the conflict kicked off and that oil/gas supply via the Strait of...

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09 Jun 2026

Cautious recovery unfolds as tech sector selloff pauses and Mideast tensions ease

Good morning. Financial markets are staging a muted recovery as the selloff in US technology stocks eases and tensions in the Middle East ratchet lower. Major indices are on course to extend yesterday’s advance at today’s open, and risk-sensitive assets are catching a bid, giving the euro, pound and yen room to gain against the dollar. Oil prices are slipping from their highs as the conflict in the Middle East shows tentative signs of improvement. Iranian authorities announced an end to military operations against Israel, and Prime Minister Netanyahu said Israel would pause its strikes in return. President Trump told...

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08 Jun 2026

Volatile markets weigh on the AUD

• Market swings. Modest improvement in sentiment overnight after risk aversion on Friday. Markets bring forward US rate hike pricing. AUD near 2-month low.• US data. Better than expected US jobs report on Friday. US CPI out this week. Markets may continue to adjust their US Fed thinking. More vol. expected. Global Trends A few turbulent sessions across markets the past few days with a rather acute bout of risk aversion on Friday night and during yesterday’s Asian trade partially unwound overnight. Risk appetite improved a bit during last night’s US trade on the back of Middle East headlines. After...

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08 Jun 2026

The beautifully distracting game

Of all the rituals of finance most ripe for disruption by artificial intelligence, few are as deserving as the quadrennial spectacle of sell-side World Cup analysis. Like clockwork, the world’s biggest banks deploy teams of economists and quants to divine the tournament’s champion and tally the macroeconomic spoils. Thousands of pages and reams of data visualisations later*, they reach a conclusion a chatbot could have supplied for free: host the tournament, or field a side in the final rounds, and enjoy a modest, fleeting bump to gross domestic product as fans throng the bars. No bank reliably picks the winner;...

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