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New Zealand Dollar: Hawkish RBNZ supports currency – Danske Bank
Danske Research Team notes that the Reserve Bank of New Zealand (RBNZ) kept its policy rate at 2.25%, matching expectations, but signalled a need for faster tightening. They now project at least two more hikes by year-end, which lifted the New Zealand Dollar (NZD) and front-end yields.
Fxstreet
Wed, May 27
WTI falls to near $89.00 as US-Iran peace hopes prevail
West Texas Intermediate (WTI) oil price depreciates nearly 4% after registering over 3% gains in the previous day, trading around $88.90 per barrel during the European hours on Wednesday. Crude oil prices decline as traders weigh potential progress toward a US-Iran peace agreement.
Gold: De-escalation seen lifting prices into year-end – Commerzbank
Commerzbank analyst Norman Liebke notes that Gold and Silver have dropped as renewed US strikes in the Gulf reinforced the inverse link with Oil. Higher energy prices raise inflation and rate fears, weighing on non-yielding metals.
Fxstreet
Wed, May 27
Australian Dollar: Peak risk builds against NZD – Societe Generale
Societe Generale’s Kenneth Broux and colleagues note that the Reserve Bank of New Zealand (RBNZ) held rates at 2.25% but turned more hawkish, while Australia’s softer Consumer Price Index (CPI) and underwhelming jobs data have markets trimming Reserve Bank of Australia (RBA) hike expectations.
Asian stock market remains mixed amid US-Iran uncertainty, KOSPI soars
Asian equity markets reflect a mixed performance on Wednesday, while uncertainty surrounding a breakthrough in the United States (US)-Iran negotiations has escalated, following Washington’s attacks on southern Iran.Fxstreet
Wed, May 27
Fed’s Kashkari: Risk to US inflation now higher than risk of deterioration in labour market
Minneapolis Federal Reserve (Fed) Bank President Neel Kashkari said in the European trading session on Wednesday that the major concern for the central bank now is higher United States (US) inflation than deteriorating labor market conditions; however, the central bank needs to pay attention to bothFxstreet
Wed, May 27
Equities: Small caps shine as earnings broaden – Danske Bank
Danske Research Team notes that US equities advanced, with the S&P 500 up 0.6% and the Russell 2000 outperforming with a 1.8% gain. The analysts stress that small caps are unusually strong given a perceived narrow tech-led rally and shifting rate expectations.
Fxstreet
Wed, May 27
BoJ's official: Financial conditions remain easy in Japan, underpinning economic activity
A Bank of Japan (BoJ) official told Parliament during the Asian session on Wednesday that financial conditions in Japan remain easy, backing strong economic activity, a scenario that leaves room for tightening monetary conditions further.Fxstreet
Wed, May 27
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Today’s Market Recap: Nasdaq Falls Over 5%, AI Stocks Plunge as Nvidia Drops Over 9%, Micron Falls Over 17%, SanDisk Drops Over 22%
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