Support
Market Minutes
Read snapshots of the latest market news
Canadian GDP stagnates; German inflation eases; Japanese confidence rises
Global economic data reveals contrasting macroeconomic trajectories. Canada's gross domestic product (GDP) unexpectedly stagnated in the first quarter of 2026, marking its first annual contraction since 2020 due to weakening investment. Concurrently, German headline inflation eased to 2.6% on the back of lower energy taxes, whilst Japan's booming retail, industrial, and consumer data propelled the Nikkei 225 to record highs.
PCE Price Index accelerates in line with forecasts; Geopolitical uncertainty persists
The US headline Personal Consumption Expenditures (PCE) inflation rate accelerated to 3.8% in April, matching market forecasts, while durable goods orders surged by 7.9%. Despite persistent inflationary pressures, financial markets found temporary relief in a potential 60-day US-Iran ceasefire agreement.
Ongoing US-Iran tensions sustain market uncertainty; Australian inflation decelerates
Ongoing US-Iran tensions fuel domestic inflation and political pressure ahead of the US midterms, even as oil prices decline. Meanwhile, Australia’s headline inflation decelerated to 4.2% in April, driven by easing transport costs, which relieves pressure on the RBA to tighten monetary policy amid rising unemployment.
Japan exports, US building permits top forecasts; Australian unemployment increases
Japan's exports surged 14.8% in April, pushing the Nikkei 225 up 3.14%. Meanwhile, US building permits beat forecasts at 1.44 million, lifting the Dow Jones to a record high despite rising mortgage rates. Conversely, Australia's unemployment rate hit a multi-year high of 4.5%, complicating policy for the RBA.
Japan GDP expands; UK unemployment and Canadian inflation rise
The global economy continues to exhibit divergent trends. The UK unemployment rate ticked up to 5.0%, maintaining pressure on the Bank of England amidst sticky domestic inflation. Meanwhile, Canada’s headline inflation accelerated to 2.8% on the back of rising energy costs, and Japan’s GDP outperformed market expectations with a resilient 0.5% expansion in the first quarter of the year.
US yields and dollar advance as inflation risks mount; Japanese PPI jumps sharply
Rising inflation risks and geopolitical tensions pushed US Treasury yields and the dollar higher, causing global stock markets to retreat. Higher energy prices and a potential hawkish Federal Reserve stance for 2026 dominate investor concerns, while Japan's PPI surged to a three-year high.
US PPI beats forecasts, reviving inflation concerns; EIA oil inventories fall
The US PPI surged to 6% in April, driven by a 15.6% gasoline price spike amid Middle East tensions. This inflation jump prompted Fed officials to consider potential rate hikes. Meanwhile, EIA oil inventories fell more than expected, and Presidents Trump and Xi met in Beijing to discuss critical bilateral trade and security issues.
US inflation accelerates beyond expectations while oil prices rebound
US inflation accelerated to 3.8% in April, primarily driven by surging fuel costs and escalating geopolitical instability in the Middle East. With WTI crude surpassing the $100 threshold and rising inflation risks, market expectations suggest the Federal Reserve may be compelled to maintain or even increase interest rates throughout the 2026–2027 period.
US NFP data exceeds expectations; European equities retreat amid geopolitical instability
US stocks hit record highs as April’s 115,000 job gains doubled expectations, signalling labour market resilience. Conversely, European indices retreated due to fragile Middle East peace talks and looming July 4 tariff deadline from the US President Trump.
US–Iran deal hopes lift equities and sink oil prices; ADP, Ivey PMI beat forecasts
A potential US–Iran peace agreement lifted equities and pushed oil lower as traders priced in less supply risk and softer inflation pressure. The S&P 500 and Nasdaq 100 set fresh records, while Brent and WTI fell sharply. Stronger-than-expected ADP private payrolls and a robust Canadian Ivey PMI added to the data-driven backdrop.