Daily Market Commentary
US equities traded higher overnight and assisted a US Dollar fightback as economic data suggested the economy remained resilient in the face of tariff uncertainty. The USD making broad gains vs the G10 currencies backed by US manufacturing and service sector results were both higher than consensus.
AUD/USD trading at .6390 as renewed pressure form the USD with risk appetite fading and broader markets tilting defensively. The Aussie's pullback reflecting diverging policy trajectories and economic signals. With no significant Australian data released Thursday, sentiment remains shaped by the RBA's recent 25 basis point rate cut.
AUD/GBP .4762 AUD/EUR .5661 AUD/JPY 92.02
Dates & Headline
19/5 NZ Business PSI, NZ PPI, UK House Price Index, China House Price Index, China Industrial Production/Retail Sales, EU CPI
20/5 G7 Meeting, PBoC IRD, RBA IRD, German PPI, EU Current Account, Canada CPI
21/5 G7 Meeting, NZ Trade Exports/Imports, Japan Trade Exports/Imports, Japan CPI
22/5 G7 Meeting, Australia/Japan Services/Manufacturing/Composite PMI, NZ Budget, NZ Credit Card Spending, UK/France/German/EU Services/Manufacturing/Composite PMI, ECB Minutes, Chicago Fed National Activity Index, US Weekly Jobless Claims, US Services/Manufacturing/Composite PMI, EU Consumer Confidence, US Existing Home Sales, Kansas City Fed Manufacturing Index
23/5 NZ Retail Sales, UK Consumer Confidence, Japan CPI, German GDP, UK Retail Sales, France Consumer Confidence, US New Home Sales
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