Kenny Fisher

The Reserve Bank of Australia (RBA) raised its cash rate by a quarter-point to 4.35% at Tuesday’s meeting.

The U.S. Federal Reserve held interest rates at the benchmark federal funds rate in a range between 3.5%-3.75percent, its lowest rate since November 2022. This marked the third straight meeting that the Fed has kept rates unchanged.

The US producer price index (PPI), which measures inflation before it hits consumers, surged in March to 4.0% year-on-year.

US fourth-quarter GDP was revised sharply lower to 0.5% while Core PCE held steady at 3.0%, supporting the view that the Federal Reserve is unlikely to cut rates soon.

Australia’s consumer price index (CPI) eased to 3.7% year-on-year in February, marking a three-month low.

There were no surprises from the US Federal Reserve at Wednesday’s meeting.

The US consumer price index (CPI) climbed 2.4% year-on-year in February, unchanged from January and matching the market estimate.

Yesterday’s delayed January employment report was surprisingly strong, led by a sharp rise in non-farm payrolls (NFP). Investors had a chance to review a fresh batch of US data, and risk appetite headed higher as the US Dollar has retreated against the major currencies, while equity markets are pointing higher.

The Reserve Bank of Australia raised the cash rate by a quarter-point to 3.85% at today’s meeting.

There were no surprises from the US Federal Reserve (Fed) at Wednesday’s meeting.

Earlier this month, a US military operation captured Venezuelan leader Nicolas Maduro and transported him to New York to face trial for narco-terrorism conspiracy. This was followed by the massive protests in Iran, which were bloodily suppressed by the Iranian regime. President Trump strongly hinted at a military response against Tehran and fears of war in the Middle East increased dramatically. Trump now appears to have backed off, saying it is because Iran agreed not to execute hundreds of protestors. Oil prices, which had climbed to multi-week highs during the unrest, eased after Trump moved away from military action.

The US consumer price index (CPI) climbed 2.7% year-on-year in December, unchanged from November and matching the market estimate.