Currencies

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

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

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

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

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

Roger J Kerr warns about the risks to the US economy if foreign investors adjust their holdings - that brings a massive US$250 bln selling pressure for every 1% shifted

Roger J Kerr warns about the risks to the US economy if foreign investors adjust their holdings - that brings a massive US$250 bln selling pressure for every 1% shifted

Further macro uncertainty after a US court invalidated Trump’s ‘liberation day’ tariffs. An initial S&P500 rally following the decision faded. Soft US economic data brought lower US Treasury yields and a weaker US dollar

Further macro uncertainty after a US court invalidated Trump’s ‘liberation day’ tariffs. An initial S&P500 rally following the decision faded. Soft US economic data brought lower US Treasury yields and a weaker US dollar

Jim O'Neill points out that all the US president's latest pronouncements are undermining the greenback's standing

Jim O'Neill points out that all the US president's latest pronouncements are undermining the greenback's standing

Global rates higher with spillover from a poor ultra-long bond auction in Japan, but the UST 10-yr rate hasn’t pushed much higher. The NZD sustained the modest gain seen after the RBNZ’s new neutral bias, following its rate cut

Global rates higher with spillover from a poor ultra-long bond auction in Japan, but the UST 10-yr rate hasn’t pushed much higher. The NZD sustained the modest gain seen after the RBNZ’s new neutral bias, following its rate cut

US equities surge, encouraged by de-escalation of US-EU trade tensions while US consumer confidence rebounds sharply. Japan's move to address issues with its ultra-long bond market supports global rates market, with rates falling around the globe

US equities surge, encouraged by de-escalation of US-EU trade tensions while US consumer confidence rebounds sharply. Japan's move to address issues with its ultra-long bond market supports global rates market, with rates falling around the globe

Could the euro replace the dollar as global reserve currency? It’s not getting any less likely, Sergi Basco says

Could the euro replace the dollar as global reserve currency? It’s not getting any less likely, Sergi Basco says

Trump backtracks on Friday's threat to impose 50% tariff on EU. Euro Stoxx 600 index up 1%, S&P500 futures up 1.3%; US 10-year Treasury future unchanged, reversing move in NZ session

Trump backtracks on Friday's threat to impose 50% tariff on EU. Euro Stoxx 600 index up 1%, S&P500 futures up 1.3%; US 10-year Treasury future unchanged, reversing move in NZ session

Roger J Kerr sees three strands of economic stimulus coming for the local economy. Meanwhile, bond markets react to compounding fiscal risks. And the RBA starts to yoyo exactly as the RBNZ has flip-flopped in the past

Roger J Kerr sees three strands of economic stimulus coming for the local economy. Meanwhile, bond markets react to compounding fiscal risks. And the RBA starts to yoyo exactly as the RBNZ has flip-flopped in the past

Trump threatened aggressive tariffs on the EU contributing to volatility in risk sensitive assets. S&P500 partially recovers from initial losses. Euro Stoxx down close to 2% and German bunds rally. US dollar broadly weaker

Trump threatened aggressive tariffs on the EU contributing to volatility in risk sensitive assets. S&P500 partially recovers from initial losses. Euro Stoxx down close to 2% and German bunds rally. US dollar broadly weaker

US PMIs resilient despite economic uncertainty. Euro-area PMIs soft. US dollar makes broad based gains. Modest increase in the NZGB borrowing programme forecast at the Budget

US PMIs resilient despite economic uncertainty. Euro-area PMIs soft. US dollar makes broad based gains. Modest increase in the NZGB borrowing programme forecast at the Budget

Growing fiscal concerns and a weak UST 20-auction contributed to a large rise in long end treasury yields. Surge in yields weigh on US equities. UK CPI higher than expected. GBP/USD reached a 3-year high with less BOE easing priced

Growing fiscal concerns and a weak UST 20-auction contributed to a large rise in long end treasury yields. Surge in yields weigh on US equities. UK CPI higher than expected. GBP/USD reached a 3-year high with less BOE easing priced