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• Improved mood. Despite ongoing Middle East issues & high oil prices risk sentiment has improved. Softer USD & a RBA hike supports the AUD.• RBA hikes. Another 25bp rate rise delivered yesterday. Inflation pressures point to another move. Markets already pricing that in. Growth set to slow.
Global Trends
The market mood has picked up over the past couple of sessions, as illustrated by...
After being ‘strategically timid’ during its last tightening cycle the RBA looks to be taking fewer chances when it comes to its renewed battle against inflation with another 25bp rate hike announced today. This follows the rate rise delivered at the last meeting in February and lifts the cash rate back up to 4.1%, just 25bps off the ‘peak’ reached in the 2023/2024 inflation fight (chart...
Good morning. The dollar is recovering from yesterday’s losses as crude prices ricochet higher following a series of Iranian strikes on energy infrastructure in the Persian Gulf and near the Strait of Hormuz. Brent and West Texas Intermediate are each up more than 3 percent on the session after a tanker was struck by a projectile in the Gulf of Oman, and drone attacks hit the United Arab Emirates’...
There was lots of drama over the weekend. Sinners. One Battle After Another. A Shakespearean tragedy. The Secret Agent. Mr Nobody Against Putin. And that was just the Middle East — the Oscars were on too.
Markets are reversing direction and turning cautiously optimistic after several oil tankers navigated the Strait of Hormuz over the weekend, easing fears of a prolonged disruption to crude flows...
• Market nerves. Higher oil prices & Middle East developments dampened risk sentiment on Friday. USD firmer. NZD & AUD underperform.• Macro events. Central banks in the spotlight this week. High chance of a RBA rate hike. But its not guaranteed. AUD volatility around the RBA likely.
Global Trends
Risk sentiment remained negative at the end of last week with the situation in the Middle East...
The Federal Reserve’s preferred inflation measure landed in line with expectations in January, but left markets mostly unmoved, given that it predated the Iran conflict and was stale on arrival. Data released by the Bureau of Economic Analysis this morning showed the core personal consumption expenditures index rising 0.4 percent from the prior month, accelerating slightly to 3.1 percent on a...