Currencies
US Federal Reserve leaves rates on hold as expected. FOMC median forecast still shows 50bp of rate cuts this year. Limited market reaction. Treasury yields remain modestly lower and currency markets stable
19th Jun 25, 7:49am
US Federal Reserve leaves rates on hold as expected. FOMC median forecast still shows 50bp of rate cuts this year. Limited market reaction. Treasury yields remain modestly lower and currency markets stable
Investors adopt a cautious stance as the US becomes more involved in the Iran-Israel conflict. US data weaker than expected. Global equities weaker, US Treasuries lower and USD broadly stronger
18th Jun 25, 7:55am
Investors adopt a cautious stance as the US becomes more involved in the Iran-Israel conflict. US data weaker than expected. Global equities weaker, US Treasuries lower and USD broadly stronger
Risk assets recover as Israel dominates battle against Iran; no sign of conflict spreading to elsewhere in the Middle East and Iran seeks end to hostilities. Global equities stronger, US Treasury yields higher and oil prices lower
17th Jun 25, 7:52am
Risk assets recover as Israel dominates battle against Iran; no sign of conflict spreading to elsewhere in the Middle East and Iran seeks end to hostilities. Global equities stronger, US Treasury yields higher and oil prices lower
Roger J Kerr says the lack of buying interest in the US dollar on the Middle East shock underscores just how much the attitude and sentiment of investors has changed over the last six months since Trump came to power and upended the world order
16th Jun 25, 7:59am
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Roger J Kerr says the lack of buying interest in the US dollar on the Middle East shock underscores just how much the attitude and sentiment of investors has changed over the last six months since Trump came to power and upended the world order
Rise in investor risk aversion amid a significant escalation in Middle East tensions. Oil prices surge. Brent crude futures close near US$75 per barrel. Global equities declined. US treasuries reversed an earlier rally and closed higher in yield
16th Jun 25, 7:24am
Rise in investor risk aversion amid a significant escalation in Middle East tensions. Oil prices surge. Brent crude futures close near US$75 per barrel. Global equities declined. US treasuries reversed an earlier rally and closed higher in yield
Benign US inflation data and a solid 30-year auction supported a rally in US treasuries. The US dollar remained under pressure with the dollar index falling below the April low
13th Jun 25, 7:50am
Benign US inflation data and a solid 30-year auction supported a rally in US treasuries. The US dollar remained under pressure with the dollar index falling below the April low
Weaker US inflation data drive down US rates. USD also weaker, but NZD and AUD see no net benefit after US-China trade talks end with parties just agreeing to keep the previous agreement, with no further progress
12th Jun 25, 7:57am
Weaker US inflation data drive down US rates. USD also weaker, but NZD and AUD see no net benefit after US-China trade talks end with parties just agreeing to keep the previous agreement, with no further progress
US-China trade talks continue for a second day in London. US treasuries range trade and only small moves in currencies
11th Jun 25, 7:48am
US-China trade talks continue for a second day in London. US treasuries range trade and only small moves in currencies
Lower US inflation expectations support US Treasuries and rates nudge down. USD broadly weaker; NZD pushes up. Markets await China/US trade negotiation news
10th Jun 25, 8:22am
Lower US inflation expectations support US Treasuries and rates nudge down. USD broadly weaker; NZD pushes up. Markets await China/US trade negotiation news
Roger J Kerr says the US is now seriously lagging behind in monetary easing cycles
9th Jun 25, 8:57am
Roger J Kerr says the US is now seriously lagging behind in monetary easing cycles
US labour market data shows resilience despite the elevated policy uncertainty. Treasury yields sharply higher as Fed easing expectations are trimmed. Further signs of an easing in US-China trade tensions supports risk sentiment
9th Jun 25, 7:41am
US labour market data shows resilience despite the elevated policy uncertainty. Treasury yields sharply higher as Fed easing expectations are trimmed. Further signs of an easing in US-China trade tensions supports risk sentiment
Trump and Xi speak. Trump says the call "a very positive conclusion"; China readout not as positive. ECB cuts as expected but signals being close to the end of the easing cycle. US initial jobless claims rise to highest level since October
6th Jun 25, 7:57am
Trump and Xi speak. Trump says the call "a very positive conclusion"; China readout not as positive. ECB cuts as expected but signals being close to the end of the easing cycle. US initial jobless claims rise to highest level since October
Weaker than expected data supports rally in US treasuries. US Services ISM contracts. Equity markets less impacted with the S&P500 modestly higher and global stocks reaching a record high
5th Jun 25, 7:48am
Weaker than expected data supports rally in US treasuries. US Services ISM contracts. Equity markets less impacted with the S&P500 modestly higher and global stocks reaching a record high
US equities are stronger, supported by the JOLTs report, which showed resilience in the labour market. US treasuries reversed course after the report, pushing up yields across the curve, and the 10-year rate is up slightly
4th Jun 25, 7:42am
US equities are stronger, supported by the JOLTs report, which showed resilience in the labour market. US treasuries reversed course after the report, pushing up yields across the curve, and the 10-year rate is up slightly
US manufacturing ISM softer than expected reflecting the uncertain economic backdrop. Crude oil prices climbed more than 2% despite news that OPEC+ had agreed to increase oil output
3rd Jun 25, 7:28am
US manufacturing ISM softer than expected reflecting the uncertain economic backdrop. Crude oil prices climbed more than 2% despite news that OPEC+ had agreed to increase oil output